ICICI Insta Saving Account Review

ICICI Insta Saving Account is a fully digital Savings Account maintained and operated by ICICI bank. You can open this account within 4 minutes from home wi

thout visiting a bank branch. There is two variant of Insta Save Account and Insta Save FD Account.

The Insta Save account is an instant savings account that can be opened with a monthly average balance (MAB) of Rs 10,000. The Insta Save FD account is an instant saving account with Fixed Deposit. However, you can enjoy the benefits of a savings account without any Minimum balance requirements, given you open a Fixed Deposit of Rs 10,000 for 1 year. Here is everything you need to know about this saving account.

What’s Ahead

  1. Features & Benefits
  2. Eligibility
  3. Document required
  4. Difference between Insta Save Account and Insta Save FD Account
  5. How to open ICICI Insta Saving Account?
  6. FAQ of Insta Saving Account

Features & Benefits

  • The account can be opened within 4 Minutes
  • The account can be opened using Aadhaar
  • 24×7 access to banking services with iMobile App
  • Complimentary Credit Card with a limit of up to 90% on the FD created
  • Exciting offers on Amazon, Flipkart, Big-basket, Swiggy, Eros Now, Pharm-Easy
  • Platinum Debit Card and earn reward points on spends
  • verification through Video KYC
  • Full-fledged Digital Account
  • Air Accident Insurance Rs.50,000/-
  • Free monthly email statements
  • Enjoy 5 free ATM withdrawals at any banks’ ATM every month
  1. Opening of Insta Save Account in 4 minutes is based on assumption that you have all requisites document.
  2. If document is not complete , then there can be delay in account opening.

Eligibility

  • You should be resident of India
  • Only  individual are allowed.
  • Your age Should 18 years or more

The bank account is only available for Indian individuals and people who do not have an existing relationship with ICICI. If you already have a salary or savings account, you won’t open the Insta Save Account.

Document required

Below is the document which is required for Insta Saving Account.

  • PAN Card
  • Aadhaar Card registered with mobile number.
  • Personal mobile number.
  • Ample light and clear background for Video KYC verification.
  • Blank white paper with black/blue pen for Signature Verification.
  • Stable network connection for seamless account opening process.

Difference between Insta Save Account and Insta Save FD Account

Insta Save Account Insta Save FD Account
The minimum monthly average balance Rs. 10,000  Nil. Provided you mandatorily opts for a Fixed Deposit of Rs. 10,000 for 1 year
Charges for non maintenance MAB Rs. 100 + 5% of the shortfall in required MAB N/A

So the only difference between Insta Save Account and Insta Save FD Accountthe you need to maintain an Rs.10,000 FD account and waiver the Minimum monthly average balance. Check the full details here.

How to open ICICI Insta Saving Account?

This article will tell you, How to open ICICI Bank’s instant savings account?

15 Minutes

  1. Visit the official website of ICICI bank.

    Visit the official website of ICICI that is https://www.icicibank.com/Bank. Click on Open Saving account.

  2. Fill in the required details in the online form.

    Select the wish account, Insta Save Account, or Insta Save FD Account, then an online account opening form will come out. Select your gender, age, marital status, occupation, education, income range, residential status and click on ‘continue.’

  3. Fill in the communication Details.

    Enter your mobile number, Email ID, PAN card number. Click on Continue. After getting OTP, put the OTP sent to your mobile number.

  4. Aadhaar Verification

    Enter your Aadhaar number and click on ‘Proceed.’ Enter the OTP received on your Aadhaar number. The Bank will verify the Aadhaar number UIDAI database. After Aadhaar number verification, fill in nominee details.

  5. Verify all the all details

    You will see all the details filled by you in summary, verify the details, and accept the terms and conditions for an online instant account.

  6. Congratulation

    After funding your account through online payment, your online account will be instantly Activated. After Account activation, you can opt for the video KYC process and convert your account into a full-fledged savings account.

My Credit Card rating for ICICI Insta Saving Account

ICICI Insta Saving Account can be opened within a few minute’s bases on Aadhaar and PAN, and you can start transacting immediately, that the excellent services of ICICI. If you open Insta Save FD Account, then you will also get a Secured credit card against Fixed

Editor's Rating:
4.2

You can also check ICICI Bank Best Credit card here.

FAQ of Insta Saving Account

  1. How much money can I deposit in this Insta Save Account?

    Immediately after account opening, you can deposit a maximum of Rs.1 lakh. Once full KYC verification completes, you can fund your account without any limitations.

  2. What happens if I withdraw my FD or do not renew it?

    After your FD withdrawal or completion of the FD term, you will have to open another FD within 3 months to continue enjoying your no balance commitment benefits. Otherwise, you have to bear No Maintenance Average Balance charges.

  3. Do I get a Debit Card with Insta Save Account?

    Yes. You will get a Debit Card at your communication address once your account is successfully activated.

  4. What will be the Insta Save Credit Card limit?

    The credit card limit is subject to 90% of the Fixed Deposit created.

  5. What happens if I do not create an FD in 3 months from the account opening date or maturity date?

    At the discretion of the bank, your Insta Save Account can be closed.

  6. What is the minimum funding amount and period required for an FD?

    The minimum amount required for your Fixed Deposit is Rs 10,000 for a minimum period of 1 year in your Insta Save FD account.

  7. What is Insta save account in Icici?

    ICICI Insta Saving Account is a fully digital Savings Account maintained and operated by ICICI bank. You can open this account within 4 minutes from home without visiting a bank branch. There is two variant of Insta Save Account and Insta Save FD Account.

4 thoughts on “ICICI Insta Saving Account Review”

  1. Icici bank is always showing, website is in maintenace, visit to branch for opening for accout open. Then how to open account online.

    Reply
  2. Their website always says “This service is temporarily unavailable, as the site is undergoing maintenance. Please visit the nearest branch for opening a savings account.”

    In this lockdown situation they forgot to fix their major issue on the website. Accidently, opened Insta Save accounts. Now I will go to the branch and close it.

    Reply

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