ICICI Bank
ICICI Bank Limited is one of India's largest private sector banks, founded in 1955 as a development finance institution by the World Bank, Industrial Credit and Investment Corporation of India (ICICI), and the Government of India. Headquartered in Mumbai, the bank was incorporated in 1994 and re-launched as a universal bank. ICICI Bank serves over 80 million customers and operates 5,300+ branches and 16,000+ ATMs across India, alongside a strong digital footprint in the United Kingdom, Canada, and Singapore. RBI regulations under the Banking Regulation Act, 1949 and RBI Master Direction on Interest Rate on Deposits govern the bank's savings and salary account products. The ICICI Bank Salary Account is a zero-balance savings account offered to salaried employees routed through ICICI Bank corporate tie-ups. Account holders earn 3.5% p.a. interest on savings balances (for balances up to ₹50 lakh, as per ICICI Bank's published savings rate card). The Monthly Average Balance (MAB) requirement is fully waived for the duration that the salary is credited, with no penalty or minimum balance requirement applied. Free unlimited NEFT, RTGS, and IMPS transfers are processed via the iMobile Pay app and ICICI Bank net banking portal, with no per-transaction charges. Salary account holders receive a complimentary ICICI Bank Platinum Debit Card with an ATM withdrawal limit higher than the standard ICICI Savings Account, plus free unlimited ATM transactions at ICICI Bank's 16,000+ ATM network and 5 free transactions per month at other bank ATMs. The package includes a personal accident insurance cover of up to ₹2 lakh (death cover) at no additional premium to the employee, and free WhatsApp Banking for instant balance enquiry, mini statement, and customer support. The iMobile Pay app is consistently rated among India's best mobile banking apps, supporting UPI, IMPS, and QR-based payments, mobile recharge, bill payments, FD/RD booking, mutual fund investments, instant loan applications, and video KYC. The app supports fingerprint and Face ID authentication. Salary account holders can fund standing instructions, ECS mandates, SIPs, insurance premiums, and home loan EMIs directly from the salary account. On job change or retirement, the salary account is automatically converted into a standard ICICI Bank Savings Account without any paperwork, retaining the account number, debit card, and net banking credentials. The ICICI Bank Salary Account is best suited for IT/ITES professionals, large corporate employees, and BFSI sector workers with an ICICI Bank corporate tie-up. The account is opened with Aadhaar, PAN, employer ID, and latest salary slip, and is governed by RBI savings account norms. Eligibility, documentation, and corporate tie-up onboarding are coordinated directly by the employer's HR/finance team with ICICI Bank's corporate banking team. Source: ICICI Bank official website, updated May 2026.
| Feature | Details |
|---|---|
| Interest Rate | 3.5% p.a. |
| Minimum Balance | ₹0 |
Review the eligibility criteria below. Most savings accounts require Indian residency, valid KYC documents, and a minimum age of 18 years.
Click "Apply Now", fill in your details, and complete KYC via Aadhaar eKYC, video call, or by uploading self-attested documents.
Once KYC is verified, your account is activated within 1–3 working days. You will receive your account number and can start transacting immediately.