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ICICI Current Account – Procedure, Charges, and Minimum Balance.

Last Updated on August 25, 2021

A current account is very beneficial for proprietors, startups, and business professionals to cater to different financial needs. The ICICI bank provides various services related to the current account. The ICICI bank provides its customer with anywhere banking that allows them to avail facilities from any branch like internet banking, bulk transactions, doorstep banking, upcountry cheques, etc. 

Table of Contents

  1. Procedure for opening ICICI Bank Current Account
  2. Documents Required to open ICICI Current Account
  3. Types of ICICI Current Account
  4. Conclusion
  5. Frequently Asked Questions

Procedure to open Current Account in ICICI Bank

The customer willing to open an ICICI bank current account can do so through an offline process by visiting the nearest bank branch or an online process. Following are the steps you need to follow:

Online Process:

Firstly, open the official website of ICICI bank. Go to the business section or click this URL https://www.icicibank.com/business-banking/current-account/index.page

  • Then, Click on the Apply now button on the section opened.
  • The ICICI digital current account form opens up. Enter all the personal details like name, phone number, email id.
  • After entering the details, click on ‘Next’.
  • An OTP will be received on your registered mobile number for verification.
  • Once verified, click on Next, upload all the required KYC documents.
  • Select the variant for ICICI digital current account.
  • Further confirmation will be through a call from the bank and an executive will visit your place for verification.

Documents Required for ICICI Bank Current Account

Following are the list of documents that you may require to open a Current Account in ICICI Bank:

  • Recent passport size colour photograph
  • Account opening cheque
  • Identify Proof document: Driving license, PAN card, passport, Aadhar card, voting card, etc. 
  • Address proof document: Aadhar card, passport, driving license, voting card, utility bills, etc.

Visit ICICI bank’s website for list of required documents for opening a current account.

Types of ICICI Current Account

ICICI bank provides various types of current accounts that differ in the features, fees, and minimum balance requirements.

Variants of Regular Current Account

ICICI Bank current accountsFeatures
New Start up current accountFacilities like free mobile alerts, zero minimum balance current account.
Shubhaarambh current accountZero minimum balance and free NEFT and RTGS transactions.
Smart Business current accountFree RTGS and NEFT and variant change.
Smart Business current account GoldFree RTGS and NEFT and cheque collection and payments.
Roaming Current account GoldFree cheque collection and payment and product type change.
Roaming Current account PremiumFree transaction of non-cash collection.
Roaming Current account ClassicFree RTGS and NEFT and cheque collection and payments.
Roaming current account standardFree RTGS and NEFT and cheque collection and payments.

Variants of Premium Current Account

ICICI Bank current accountsFeatures
Club Elite IvyDedicated relationship manager and unlimited transaction.
Roaming Current account EliteFree mobile alerts, RTGS and NEFT.
Smart Business account- PlatinumFree mobile alerts, RTGS and NEFT.
Roaming Current account- PlatinumFree RTGS and NEFT and cheque collection and payments.
Roaming Current account Gold PlusFree mobile alerts, cheque collection and payment anywhere.
Made 2 orderCustomize account and charge for services.

Let’s check the details of each of these current account offered by ICICI Bank.

New Startup Current Account

The New startup current account offers various benefits and is ideal for a startup.

FeaturesCharges
Average Monthly balance (MAB)For the first 6 months, No MAB required. After 6 months – 25,000
Cash deposit at base and non-base locationFor maintained monthly balance, free limit up to 12 times.
Base location Cash withdrawalFree and unlimited
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees
Number of cheque leavesPer month 100 free cheque leaves
DD/POPer month 10 free DD/PO
Balance of Non-maintenance Per month 1000 rupees
Charges for NEFT/RTGSNEFT/RTGS collections no charges
Payment for IMPSUp to rupees 10,000 charges are 3.50 rupees
Physical account monthly statementPer month 25 rupees
Charges for account closureNo charges within 14 days

Shubhaarambh Current Account

FeaturesCharges
Average Monthly balance (MAB)For first 6 months, No MAB required. After 6 months – 25,000
Cash deposit at base and non-base locationFor maintained monthly balance, free limit up to twelve times.
Base location Cash withdrawalFree and unlimited
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees
Number of cheque leavesPer month 100 free cheque leaves
DD/POPer month 10 free DD/PO
Balance of Non-maintenancePer month 1000 rupees
Charges for NEFT/RTGSNEFT/RTGS collections no charges
Payment for IMPSUp to rupees 10,000 charges are 3.50 rupees
Physical account monthly statementPer month 25 rupees
Charges for account closureNo charges within 14 days

Smart Business Current Account

The Smart business account is the current account that provides free mobile alerts facility and transaction benefit to their customers.

FeaturesCharges
Average Monthly balance (MAB) MAB required – Rs. 25,000 , for RIB -50,000 rupees
Cash deposit at base and non-base locationFor maintained monthly balance, free limit up to twelve times.
Base location Cash withdrawalFree and unlimited
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees
Number of cheque leavesPer month 100 free cheque leaves
DD/POPer month 10 free DD/PO
Balance of Non-maintenancePer month 1000 rupees
Charges for NEFT/RTGSNEFT/RTGS collections no charges
Payment for IMPSUp to rupees 10,000 charges are 3.50 rupees
Physical account monthly statementPer month 25 rupees
Charges for account closureNo charges within 14 days

Smart Business Account (Gold)

This current account allows free cash deposits up to 12 times.

FeaturesCharges
Average Monthly Balance (MAB) MAB required – Rs. 1 lakh
Cash deposit at the base and non-base locationFor maintained monthly balance, free limit up to twelve times.
Base location Cash withdrawalFree and unlimited
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees
Number of cheque leavesPer month 300 free cheque leaves
DD/POPer month 25 free DD/PO
Balance of Non-maintenance If MAB >= 50%Rs. 1000  If MAB < 50%Rs. 3000
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions
Payment for IMPSUp to Rs. 25,000 charges are Rs. 3.50
Physical account monthly statementPer month 25 rupees
Charges for account closureNo charges within 14 days

Roaming Current Account Gold Variant

It is ideal for medium-sized retailers with facilities like free cheque collection and payment.

FeaturesCharges
Average Monthly Balance (MAB) MAB required – Rs. 1 lakh
Cash deposit at base locationFor maintained monthly balance, free limit up to Rs. 10 lakh.
Base location Cash withdrawalFree and unlimited
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees
Number of cheque leavesPer month 200 free cheque leaves.
DD/POPer month 25 free DD/PO
Balance of Non-maintenancePer month Rs. 2000
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 10,000 charges are Rs. 3.50
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days

Roaming Current Account Premium Variant

It offers free cheque collection, payment, and unlimited cash withdrawal. 

FeaturesCharges
Average Monthly balance (MAB) MAB required – Rs. 50,000
Cash deposit at base locationFor maintained monthly balance, free limit up to Rs. 5 lakh.
Base location Cash withdrawalFree and unlimited.
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees.
Number of cheque leavesPer month 100 free cheque leaves.
DD/POPer month 20 free DD/PO.
Balance of Non-maintenancePer month Rs. 1500.
Charges for NEFT/RTGSNo charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 10,000 charges are Rs. 3.50
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days.

Roaming Current Account Classic Variant

in the ICICI bank is suitable for local businesses. It offers free cheque collection and payment from anywhere in the country.

FeaturesCharges
Average Monthly balance (MAB) MAB required – Rs. 25,000
Cash deposit at base locationFor maintained monthly balance, free limit up to Rs. 2.5 lakh.
Base location Cash withdrawalFree and unlimited.
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees.
Number of cheque leavesPer month 50 free cheque leaves.
DD/POPer month 10 free DD/PO
Balance of Non-maintenancePer month Rs. 1000
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 10,000 charges are Rs. 3.50
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days.

Roaming Current Account Standard Variant

It provides free facilities like NEFT and RTGS transactions.

FeaturesCharges
Average Monthly balance (MAB) MAB required – Rs. 10,000
Cash deposit at base locationFor maintained monthly balance, free limit up to Rs. 1 lakh.
Base location Cash withdrawalFree and unlimited.
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees.
Number of cheque leavesPer month 25 free cheque leaves.
DD/PONil
Balance of Non-maintenance Per month Rs. 750
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 10,000 charges are Rs. 3.50
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days.

Roaming Current Account Elite Variant

It provides free mobile alerts facility and is suitable for high-end businesses.

FeaturesCharges
Average Monthly balance (MAB)MAB required – Rs. 10 lakh
Cash deposit at base locationFor maintained monthly balance, free limit up to Rs. 1 Crore
Base location Cash withdrawalFree and unlimited
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees.
Number of cheque leavesPer month 2000 free cheque leaves.
DD/POFree of charge.
Balance of Non-maintenance If MAB >= 50% Rs. 5000  If MAB < 50%10,000
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 10,000 charges are Rs. 3.50
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days.

Smart Business Account (Platinum)

It offers facilities like free mobile alerts and other financial benefits.

FeaturesCharges
Average Monthly balance (MAB)MAB required – Rs. 1 lakh.
Cash deposit at base and non-base locationFor maintained monthly balance, free limit up to twelve times.
Base location Cash withdrawalFree and unlimited.
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees.
Number of cheque leavesPer month 600 free cheque leaves.
Charges of non-maintenance of minimum balanceIf MAB >= 50% – Rs. 1000  
If MAB < 50% – Rs. 5000 .
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 25,000 charges are Rs. 2.50 .
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days.

Roaming Current Account Platinum Variant

It provides facilities like free cheque collection and payment collection from anywhere in the country.

FeaturesCharges
Average Monthly balance (MAB)MAB required – Rs. 5 lakh.
Cash deposit at base locationFor maintained monthly balance, free limit up to Rs. 50 lakh.
Base location Cash withdrawalFree and unlimited.
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees.
Number of cheque leavesPer month 1000 free cheque leaves.
DD/POFree of charge.
Balance of Non-maintenanceIf MAB >= 50% Rs. 2,500  If MAB < 50%Rs. 5,000.
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 10,000 charges are Rs. 3.50.
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days.

Roaming Current Account Gold Plus Variant

It is suitable for bulk transactions and are provided with facilities like free cheque collection and payment from anywhere in the country.

FeaturesCharges
Average Monthly balance (MAB)MAB required – Rs. 3 lakh.
Cash deposit at base locationFor maintained monthly balance, free limit up to Rs. 30 lakh.
Base location Cash withdrawalFree and unlimited.
Non-Base location Cash withdrawalPer day free limit of 50,000 rupees.
Number of cheque leavesPer month 600 free cheque leaves.
DD/POFree of charge.
Balance of Non-maintenancePer month Rs. 3,000.
Charges for NEFT/RTGSno charges for NEFT and RTGS transactions.
Payment for IMPSUp to Rs. 10,000 charges are Rs. 3.50.
Physical account monthly statementPer month 25 rupees.
Charges for account closureNo charges within 14 days.

Made-to-Order Account

It allows customers to customize their account based on their specific business needs accordingly.

FeaturesCharges
Average Monthly balance (MAB)MAB required – Rs. 3 lakh.
Cash deposit at base and non-base locationCash deposit limit is flexible.
Services of free limitsFlexibility to decide the higher free limits.
Number of cheque leavesFlexibility Option to choose cheque leaves.
DD/PODD/PO limits can be customised.
Account StatementDaily basis email statement for free.

Conclusion

If you are a new business owner looking for a reliable Indian bank with a history of good banking and higher adaptability, then go with the ICICI Bank for current accounts. To make your business financial transactions seamless and fast, ICICI is the first choice for many startups and bigger companies functioning in India. They provide a wide variety of current accounts according to the needs of the business. You can check the above current account variants or request a call from ICICI bank customer care for more details.

Frequently Asked Questions

1. How to open an ICICI Bank current account online?

Ans. User can visit ICICI Bank’s official website and apply for opening a current account online. 

2. How can one get a statement for ICICI bank’s current account?

Ans. To get a statement for ICICI bank current statement, follow the steps given below:

  • Login to ICICI Corporate Net banking for a current account using login Id and password
  • Click on the E-statement button
  • Enter the account number, period, and click on the PDF to generate the document

3. How to contact customer care for ICICI bank’s current account? 

Ans. For customer care assistance, you can call on the toll-free number 1800 103 8181, 1860 120 3399, 1860 120 7777. If you have some other queries, you can also check their website,

4. What are the variants of one global trade accounts for the ICICI current account?

Ans. There are 3 types of global trade accounts for the ICICI current accounts: Trade Basic, Trade Gold, and Trade Premium.

5. What is the Club Elite Ivy provided by ICICI bank?

Ans. Considering the banking needs for the special current account clients, Club Elite Ivy is an exclusive relationship program provided by ICICI bank.