Current Account

Affinity Current Account

What is an Affinity Current Account?


The Affinity Current Account (“Affinity Account” or “Affinity”) is designed to provide you with easy linkages back home in India from ICICI Bank Limited, Singapore Branches (“ICICI Singapore”).

ICICI Singapore's Affinity Account can be used as a standalone transactional account or can be linked to your fixed deposit or savings account. You can withdraw funds from you Affinity Account through the personalized cheque book facility or by walking in to our branches.

In what currencies can one open an Affinity Account? What is the minimum balance requirement?


You can open an Affinity Account in Singapore Dollars ("SGD"), United States Dollars ("USD"), Australian Dollars ("AUD") and/or Euros ("EUR"). There is no minimum balance requirement to operate your Affinity Account. However, if the total monthly average balance of all your accounts with us such as the Affinity Account, savings account and fixed deposit falls below 250 currency units, the following charges will apply:

 

Total Monthly Average Balance Administrative charge for the respective month
250 currency units and above 0
0 –250 currency units 3

 

*Please note that if the Affinity Account is the only account that you have under a particular Customer ID with ICICI Singapore, you would be required to maintain a minimum balance of 250 currency units in such account(s).

Is any interest paid on the account?


There is no interest paid on the Affinity Account. You can choose to open a linked Savings account (only in SGD) to earn interest on surplus funds.

How will I be able to view my account statement from my internet banking page?


You are able to view or download your account statement from your internet banking page under the section Account Statement (PDF).

 

Please note that you will be able to view or download your account statement only if you have done any transaction in operative accounts during the respective month. Kindly contact our call centre or visit any of our branches if you wish to receive your account statement regardless if you have done any transaction.

If you only hold a fixed deposit with ICICI Bank, the Deposit Confirmation Advice ("DCA") provided to you provides the details of your deposit with us.

Will I be provided a cheque book with the account?


You can opt to receive a free personalised cheque book when you open a SGD Affinity Account. There will be charges applicable for subsequent issue of cheque books.

Is there any overdraft facility on the account?


No overdraft facility is provided on the Affinity Account.

What are the various charges applicable for a Current Account?


The service charge payable for the account will be communicated by the Bank from time to time, and is also detailed in the Schedule of Charges

Can non-individual customers open an Affinity Account?


Non-individual customers can open a regular Current Account. The Monthly Average Balance ("MAB") requirements for a regular current account are SGD1, 000. The customer can choose to open an account in SGD, USD, AUD and/or EUR.

What is the minimum balance requirement for non-individual current accounts?


There is no minimum balance requirement to operate a Current Account. However if the total monthly average balance of all your accounts with us such as Current Account, Savings Account and Fixed Deposit falls below 1,000 currency units, the following charges will apply:

 

Total Monthly Average Balance Administrative charge for the respective month
1,000 currency units and above No Fee
500 – 1,000 currency units 3
500 currency units and below 5

 

*Please note that if such Current Account is the only account that you have under a particular Customer ID with ICICI Bank, you would be required to maintain a minimum balance of 1,000 currency units in such account(s).

Are monies in the current account insured?


Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

India Banking service for Affinity Current Account

How do I link and de- link my India account?


It’s Simple! Just follow the following steps-

  • Login to the ICICI Bank Singapore internet banking
  • Click on ‘India banking tab”
  • Click on ‘LINK YOUR NR ACCOUNT’

From thereon follow the on screen instructions and within three business days your request will be processed.

You can also choose to de-link your NR Account at anytime by clicking on ‘DE-LINK YOUR ACCOUNT’ and by following the on screen instructions.

How long does it take to link my India account?


Once we receive a completed request your account will be linked within three business days.

Can I make transactions in my India account post linking?


You will only be able to view balances and mini statements (the previous 10 transactions). You will not be able to carry out any transactions in the India account.

Which accounts can be linked to my Singapore account?


Only Non-Resident accounts held with ICICI Bank Ltd., can be linked to your Singapore account.

Which account will I be able to view post linking?


You will only be able to view the savings and deposit accounts post linking. You will not be able to view other accounts like the Demat, Home Loan,credit card or any other accounts.

Can I place a request to link my India accounts over the phone or at a branch?


The request for linking account can only be submitted online. You can visit our branches or call us to know more about the process of linking accounts.

How long does it take to de-link my India account?


Once we receive a completed request, the account will be de-linked within three business days.

Can I use this service if I have a HiSave account?


The service is currently available to Affinity Current Account holders only. We will inform you as and when the service is extended to other account types.

What do I do if I have opened a new account under the same customer ID?


You will be able to view your account details without making any new requests once the account is opened.

What do I do if I see an incorrect transaction?


For any discrepancy in your balance or statement please contact ICICI Bank Ltd. You can call them on 8001012553 and select IVR Option 2 for NRI Services.

Account Opening

How can I apply for an Affinity Current Account and what are the documents I need to submit?


It is quite simple. Please visit any of our branches, fill the Account Opening Form and furnish the following supporting documents.

  1. Proof of Identity:
    • Singapore Citizens / Permanent Residents - Copy of pink / blue NRIC card
    • Singapore Residents (Other than Permanent Residents) - Copy of documents issued by the relevant Government Agencies/ Ministries in Singapore (eg: Employment Pass) and Passport.
    • Singapore Non Residents - Copy of Passport.
  2. Proof of Residential Address :E.g. latest copy of utility bills, bank statements etc - issued within the last 3 months.

 

Please carry the originals of the above mentioned documents with you so that our staff may verify the same.

Can I have the Affinity Account in joint names?


Yes, you can hold the Affinity Account in joint names, to a maximum of four account holders. The account operations shall be in accordance with the instructions provided at the time of account opening for mode of operation of account.

Whom can I contact to open a Current Account with ICICI Bank?


Please visit our branches and meet our Customer Service representatives.

Can a non-resident of Singapore open an Affinity Current Account?


The Affinity Account is only for individuals resident in Singapore. However, non-resident customers can open Fixed Deposits with ICICI Singapore.

How can I pay for the initial account opening?


At the time of account opening, you can make the initial account opening deposit by cheque, cash or by swiping your NETS card. Please note that the cash and NETS transactions should be done only at ICICI Singapore branches through the available NETS terminal

How will the initial funds (for account opening) be returned if the account opening form is declined or rejected by ICICI Singapore?


In case the account opening form is declined and/ or rejected, ICICI Singapore will inform you through post, phone or mail (based on the details as provided by you on the account opening form at the time of account opening) as applicable about the rejection of your account opening form. The refund of funds deposited for initial funding at the time of account opening will be as indicated below.

  • For non-account holders: The funds deposited by the applicant at the time of account opening (for initial funding of the account) will be refunded to the applicant within a period of 7 working days from the date of rejection of the account opening form, in the following manner:
    1. In case of cheque and/ or NETS based funding: The funds deposited will be refunded by ICICI Singapore by providing a cashier's order in the applicant's name at the applicant's registered communication address (i.e. the address designated by the applicant as his/ her communication address in the account opening form at the time of account opening) by courier or post.
    2. In case of cash based funding:The funds deposited will be refunded by ICICI Singapore to the applicant by providing a cashier's order of the amount equivalent to the funds deposited at the time of account opening.
  • For existing account holders (for subsequent account opening): For account holders, reversal of funds can be by either of the following means:
    1. In case of deposit of funds by a debit instruction: Reversal of funds will be by crediting the customer's existing account with the equivalent amount;
    2. In case of initial account funding by cheque or NETS transaction: The funds deposited will be refunded by a cashier's order in the customer's name and sent vide courier or post at the customer's registered communication address (if the account opening is initiated bydepositing a cheque or vide a successful NETS transaction)
    3. In case of account funding by cash: ICICI Singapore will return the funds deposited by cash to the customer by providing a cashier's order of the amount equivalent to the funds deposited at the time of account opening.

Account Servicing

Whom do I contact for any grievances on product or service issues?


For service or product related issues, you may contact our Customer Service Managers at our branches or write to us at sg.service@icicibank.com

 

For any complaints, you may write to our Complaint Officer by addressing your complaint/ grievance to: The Complaint Officer, ICICI Bank Limited, 6 Raffles Quay, Level 1, John Hancock Building, Singapore or by email on sg.complaints@icicibank.com

How can I avoid dormancy on my accounts?


Accounts become dormant if there are no customer-induced transaction (debit or credit) for a period of 12 months. To avoid such instance please ensure that there are regular transactions in your account like:

  1. Cash and cheque deposits into the account;
  2. Cash and cheque withdrawals;
  3. Issue of fresh cheque book;
  4. Change of address and contact details;
  5. Inward and Outward remittance;
  6. Booking of Fixed deposit from dormant account.

 

Please note if the account is dormant, we will be unable to send any account statements.

My account has become dormant/inactive. How can I activate it?


You need to simply visit either of our branches with your valid ID and residential address proof for verification. You will also need to give a written request for activation of your account.

 

Post receipt of the completed request, your account will be activated within 24 hours.

Funds Transfer

What are the various transaction limits on Internet banking?


The following transaction limits are applicable on Internet banking:

 

S.noTransaction TypeFrom AccountTo AccountCurrencyMaximum Limit in currency unitsFrequency
1. Fund transfer ICICI Current Account Account with any bank in Singapore SGD 50,000. Daily*
2. Fund transfer ICICI Savings Account Self current account with ICICI Bank SGD 249,999 Daily*
3. Fund transfer ICICI Current Account Current Account within ICICI Bank SGD SGD 50,000 Daily*
4. Fund transfer Hisave savings account Linked account of Hisave with any other bank in Singapore SGD 50,000 Daily*
5. Remittance to India ICICI Current Account Registered payee with any Bank in India SGD,USD 25,000 Daily*

What are the Branch codes for ICICI Bank?


The following branch codes are applicable for ICICI Bank Singapore:

 

S.noBranch Name and AddressBranch CodeSWIFT codeCurrencyCategory
1. Raffles Quay –6 Raffles Quay, #01-02,Singapore-048580 8871 ICICSGSGXXX SGD Retail Banking
8872 USD,AUD,EUR
2. 190 Serangoon Road Singapore 218064 8873 SGD
8874 USD,AUD,EUR

 

S.noOthersCodeSwift CodeCurrencyCategory
3. Private Banking Customers 8881 ICICSGSGXXX SGD Private Banking
8882 All currencies except SGD

 

When does the fund transfer limit get reset?


Daily Funds Transfer limit for a particular day is reset at 12:00 AM Singapore time.

What are the various transaction codes?


The various transaction codes that reflect in your statement are as follows:

 

S.noTransaction TypeFrom AccountTo AccountNarration formatSample Narration
1. Fund transfer ICICI Current Account Account with any bank in Singapore BIL/12 digit trans action reference number/Date and time /SW Transaction reference number is 145 executed on 24 October 2012 the narration will be -BIL/000000000145/24-10-2012 17:40:54/SW
2. Fund transfer ICICI Savings Account Self current account with ICICI Bank TRTR/12 digit trans action reference number/Date and time /SW Transaction reference number is 178 executed on 24 October 2012 the narration will be - TRTR/000000000178/24-10-2012 17:40:54/SW
3. Fund transfer ICICI Current Account Current Account within ICICI Bank SGD SWY/Remarks Remarks set as - Savings SWY/Savings
4. Fund transfer Hisave savings account Linked account of Hisave with any other bank in Singapore SWY/Remarks Remarks set as - consolidated SWY/consolidated
5. Remittance to India ICICI Current account Registered payee with any Bank in India IRM/FIO8 digit transaction reference number/REM/Date and time Transaction reference number is SRI01234567 executed on 2 Feb 2012 the narration will be -IRM/FIOSRI01234567 /REM/20120210124224

What kind of transaction signing is applicable on my fund transfers?


The transaction signing required for a transaction depends on the amount that you are transferring. Please be guided by the grid below-

 

Local Fund transfer

S.noTransfer AmountType of verification applicable
1. From 1 to less than 2001 Onekey device based OTP
2. From 2001 to less than 25001 Transaction signing password using Onekey device with one input parameter
3. From 25001 to less than equal to 50000 Transaction signing password using Onekey device with two input parameters

 

Remittance to India

S.noTransfer AmountType of verification applicable
1. From 1 to 2000 Onekey device based OTP
2. Greater than 2000 and less than 25000 Transaction signing password using Onekey device with one input parameter

What is the GIRO upgrade about?


This is an industry wide enhancement of the current interbank GIRO payment infrastructure led by the Association of Banks in Singapore (ABS).

What are the benefits of this upgrade?


The benefits that are available after the upgrade are:

  • Ease of setting up payment instructions without the need for a bank branch code
  • Introduction of new Purpose code and Reason codes
  • Ability to pay credit or charge cards with other banks
  • Greater clarity of payment instruction in bank statements

Will my bank account number be changed?


Your bank account number will not be changed. However when you are adding payee for fund transfer please note that for HSBC, OCBC and State Bank of India (SBI), you will need to incorporate the branch into the account number field after the upgrade. The full account number will be expanded to include the branch code followed by the existing account number for these 3 banks, please remember to use the new account number going forward.

See below for an example:

Bank NameCurrentPost Upgrade
Bank CodeBranch CodeAccount NumberSWIFT/BICAccount number
HSBC 7232 146 12345678 HSBCSGSGXXX 14612345678
SBI 7791 277 34567891 SBINSGSGXXX 27734567891
OCBC 7339 550 45678901 OCBCSGSGXXX 55045678901
All other banks NA NA 58901234 SWIFTCode 58901234

 

General FAQ

Is there any minimum age to open the account?


We currently offer accounts to persons above 18 years of age.

In which language can I communicate with the Bank?


English is the language of communication for any communication with the bank.

Money Transfer FAQ

Are there any money transfer related FAQs that I may refer to?


Yes, you may visit for the FAQs on money transfers.