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Features of Savings Account

  • Open single or joint accounts

  • Linked Current Account enables withdrawals

  • No minimum balance

  • SGD currency only

  • Option for multiple account holders

About Savings Account

Easy steps to open a Savings Account

Step 1 - Walk into ICICI Bank Singapore branch and meet our Customer Service representative.

Step 2 - Fill an Account Opening Form (AOF) (as prescribed by ICICI Bank Singapore) and furnish proof of your identity and residential address. Please carry the original documents for verification at the time of account opening.

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 / Dependant’s Pass (DP) / Personalised Employment Pass (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, tax documents, bank statements or others. These proofs are required as per the Government Regulations and the Bank may therefore verify the proof of identity and address you submit. 

Step 3 - You can fund your Savings Account through a cheque drawn on any bank in Singapore, NETS Debit Card or local transfer.

For your Account Opening Form, you should read the following carefully:

  • ICICI Bank Singapore's General Terms and Conditions (‘GTC’) Governing Accounts and Secured Facilities
  • Terms and Conditions as mentioned in the AOF.

Savings Account Interest Rates
Currency Interest Rate
SGD 0.1%

All Savings Account interest rates are expressed on a per annum basis. These Savings Account interest rates are for reference only and are subject to change by ICICI Bank, Singapore at any time without any notice. The actual rate of interest offered shall be the rate as may be determined by the Bank from time to time. Other terms and conditions apply.

FAQs

What are the features of the Savings Account?

The Savings Account is an account linked to a Current Account that offers the twin benefits of interest rates as well as flexibility of withdrawal of funds without any lock-in. The account provides the facility of earning interest on the funds in it, while at the same time allowing you the flexibility to withdraw funds, as per your requirement through the linked Current Account. A Saving Account cannot be opened as a standalone account

In what currencies can one open a Savings Account? What is the minimum balance requirement?

You can open a Savings Account in Singapore Dollars (SGD). There is no minimum balance requirement.

Is any interest paid on the Savings Account?

The interest accrual will happen daily and will be credited monthly in the account. Please note that the interest rate is subject to change and the applicable rate will be updated on our website.

In case of change in interest rate, you may choose to discontinue the account for which you will be required to notify the Bank within a month of the effective date of the interest rate change as updated on the website.

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