About Current Account
The Current Account (" Account" or " ") is designed to provide you with easy linkages back home in India from ICICI Singapore.
Currnt Account is available in multiple currencies, with low monthly average balance requirements. The current Account will be a convenient solution for all your money transfer requirements to India.
Convenience of multiple banking channels
Choice of multiple currencies
- Convenience of money transfers through multiple channels: Transfer money from ICICI Singapore using any of the following channels to any bank in India with confirmed exchange rates
- Call and Remit: Transfer money from the convenience of your home or office by calling us Toll-free at 8001012553 (7 days a week between 0800 and 1800 hours).
- Branch: Simply walk into our branch and place a money transfer request.
- Preferential exchange rates: As an Current Account holder, you enjoy preferential exchange rates** for all your money transfers to India:
- Additional 5 paise per transaction over the applicable card rates;
- Additional 10 paise per transaction if your total relationship size (including fixed deposits, current and savings account balance) is more than SGD 25,000 (or equivalent) with ICICI Singapore.
- Choice of Multiple Currencies: You can open an Current Account in SGD, USD, AUD as well as EUR.
- Maximise savings by linking a savings account to your Current Account Your currrent account help you maximise savings if you link the same to an ICICI Singapore Savings account. Earn interest on your savings and enjoy complete flexibility to move your funds, without any lock-in period. Get easy access to your savings and monthly interest payouts.
- India banking -View your Singapore and Non Resident (NR Account) information together. You can now view the details of your Accounts held with ICICI Bank Ltd, India via your ICICI Bank Singapore logged in section. This will make tracking your finances between the Singapore and India more convenient.
3 Easy steps to open an Current Account & Savings Account
- Step 1 - Walk into any ICICI Singapore branch and meet our customer service representative.
- Step 2 - Fill an account opening form ("Account Opening Form" or "AOF") (as prescribed by ICICI Singapore) and furnish us a proof of your identity and residential address. Please carry the original documents for verification at the time of account opening at ICICI Singapore.
Please note that:
- Proof of Identity must be issued by a public authority and include the applicant's name, date of birth, nationality, a signature and a photograph of the bearer E.g. NRIC/EP/DP/PEP and Passport.
- Proof of Address must be issued by recognised authorities, banks or utilities and include full address of the applicant. It could be in the form of utility bills, driving license, tax bill, bank statements or others. These proofs are required as per Government Regulations and the Bank may therefore verify the proof of identity and address you would submit.
- Step 3 - You can open the Current Account with a minimum of SGD 100. To fund your Current Account, you can give us a cheque drawn on any bank in Singapore, NETS debit card, E- Giro or Demand Draft.
For your Account Opening Form, you should read the following carefully:
- ICICI Singapore's General Terms and Conditions Governing Accounts and Secured Facilities ("GTC");
- Terms and Conditions as given on the AOF. You may also refer to the terms and conditions applicable to the Current Account
- Customers opting for the internet banking facility must accept the terms and conditions applicable for internet based international money transfers
The Current Account can be operated as a single account or joint account.
Below are features of the Joint Account:
- The number of joint account holders for an account shall not be more than 4.
- Joint Account holders have an option of anyone to sign singly or jointly for operating the Account; the same is captured in the account opening form.
- The account is operated as per signing condition/mode of operation as taken at the time of account opening. These instructions can be financial (funds transfers) as well as operational (address change, servicing of account etc.) in nature.
- In case of request for closure of a joint account, will be per signing conditions.
- All account holders are equally responsible for all debt on the joint account.
- In the event of difficulties like separation/divorce/dispute arising between the joint account holders, any one of the account holders is required to inform the bank about the same through a written notice. On receipt of such notice, we will only accept future instructions which have been authorized by all the joint account holders.
- A joint account can be transferred into the name of just one of the account holders, basis a written request authorized by all the joint account holders.
- In the event of the death of any one of the joint account holders the account is operated as per terms and conditions stated in the General Terms and Conditions Governing Accounts and
Minimum Balance Requirements and Charges
There are no minimum balance requirements to operate your Current Account. However, if the total monthly balance of all your accounts with us, such as your Current Account, savings account and fixed deposit account (Monthly Average Balance – MAB) falls below 250 currency units, administrative charges of 3 currency units per month may apply.
The administrative charges shall be calculated by adding the daily closing balance of all accounts under your customer ID with us for a particular month and dividing it by the total number of days for that particular month. In case the account is in dormant status, the charges are levied on the account. In case the account is in freeze status, the charges are not applied. In case an account has been opened during the running month, then the account will be exempted from application of MAB charges for that month. However, from next month, the account will be considered for MAB charges with the logic given above. These charges will be levied on the Current Account only.
**Terms and Conditions apply.
Please click here for Current Account FAQs
Please click here for Money Transfer FAQs