ICICI Bank Services And Products

ICICI Bank first opened its doors to the public in 1994, when it was promoted as a Limited company. Today, you get various financial services and banking products for both retail and corporate customers.

ICICI Bank is India's 3rd largest private sector bank that boasts of a total or consolidated asset amounting to Rs. 11,242.81 billion as on March 31, 2018. Its profits after tax for the same year amounted to Rs. 67.77 million.  ICICI Bank has an extensive network with 4874 branches, excluding the 14,267 ATMs across the country.

We shall now talk about the list of products and services from ICICI Bank.

Products and Services of ICICI Bank

ICICI Accounts

ICICI Bank has one of the largest or most extensive ATM networks and bank branches from where you can avail mobile banking, net banking, doorstep banking, get personalized loans, and various accounts and deposits. Amongst accounts, it provides you with the following as per your choice:

• Savings accounts- You get various value-added benefits with ICICI savings account. There are various savings accounts that you can avail of as per your needs and requirements. The different types of ICICI savings accounts include THE ONE Savings Account, Regular Savings Account, Silver Savings Account, Gold Savings Account, Titanium Savings Account, and much more

• 3-in-1 online trading accounts: This is the type of account that gives the customer the convenience of opening a bank account, a demat account and a trading account all at once. One can trade in equity, mutual funds, derivatives, and IPOs.

• Salary Account: A salary account gives a wide range of benefits to both the employer and the employee. The employer is benefited as he or she can disburse salaries from a single platform. The employees are benefited as their salaries are credit immediately, and they can also enjoy convenient features like internet banking and mobile banking.

• PayLater by ICICI Bank: If you wish to make a purchase but can’t due to a low balance, you can use PayLater by ICICI Bank to buy now and pay for the items later. For instance, you buy a phone now and pay back the bank with EMIs.

• Pension Accounts: ICICI Bank offers a range of accounts just for securing one’s pensions. These pension schemes include the National Pension System, Atal Pension Yojana, EPFO, Civil Pension and Defense Pension.

• Other Accounts: There are other bank accounts from ICICI as well that you can avail, depending on your needs. These include Child Education Plan, Outward Remittance, EEFC Account, and the New Pension Scheme. 

ICICI Deposits

You can get a wide range of deposits as well to cater to your needs and circumstances. ICICI bank deposits include:

• FD Extra: This is ideal for those who wish to have something more than what regular FDs offer. ICICI Bank’s FD accounts include FD Life, FD Invest, FD Income, and FD Card.

• Fixed Deposit with monthly income option: This is a term deposit option that has the benefits of a cumulative FD in the investment phase, followed by FD with money income in the payout phase.

• Recurring Deposit with monthly income option: This is slightly different than the last one as it has the beneficial features of a recurring deposit during the investment phase and the features of annuity fixed deposit during the payout phase.

• Fixed Deposit: If you have idle money or money that you do not have any plans of using in the long or short run, the best thing to do is to keep the amount in an FD and get the benefits of a host of attractive benefits.

• FD without premature withdrawal facility: In this type of deposits, you earn additional interest on your deposit amount, depending on the term and the amount. 

• Recurring deposit: One of the fastest and most secure ways to grow your money is through a recurring deposit account. This type of account is focussed on making your funds grow faster.

• iWish Flexible RD: This is one of the most versatile and personalizable deposit accounts that you can get from the bank. It is ideal for saving up for a goal, such as buying a car etc. With this deposit, you can save when you find a good interest rate to deposit for.

• Value Added Products (Holiday Savings Account): This deposit account is ideal for the times when you wish to save up for a dream holiday. You have a recurring deposit account and get a top up over that. You also get the huge benefit of booking a holiday in the next year at the rate of interest of the current year.

• Tax Saving FD: If you wish to have an account for investment purposes, this is ideal as tax is not charged on the amount here.

• Money Multiplier Fixed Deposit: With this deposit, you will be able to earn interest on the FD and enjoy liquidity of funds as well.

• Security Deposit: These deposits are for the employees of a company who desire that they place a security deposit to discourage attrition. 

ICICI Loans

ICICI Bank understands the fact that no two people can have the same desire, wish, or circumstances. Thus, in the realm of loan products, ICICI Bank not just offers a wide range of loans but also personalizes them according to your needs. Here are some of the types of loans:

• Home loan: It is very easy to get a home loan from ICICI Bank. You get the benefits of attractive interest rates and lower EMIs.

• Car loan: ICICI Bank car loans are highly preferred. The bank has a network of 1800 channel partners at 1700 locations and tie ups with the leading manufacturers and dealers. The benefits are - fast processing, flexible schemes, and problem-free application.

• Personal loan: You can take a personal loan at attractive rates of interest for any requirement such as a wedding, dream holiday, home renovation and much more.

• Education loan: ICICI Bank education loans are one of the most popular in the country. These loans allow you to focus on your studies and not worry about the finances.

• Gold loan: This is one of the bank’s comparatively new loan options. You get loans against gold and gold ornaments of a corresponding value. However, do remember that the loan amount you get won't be 100% of the collateral's value, although it shall be a high percentage enough. You can use your gold loan for any personal or emergency needs. Before taking a gold loan, be sure to know what the current gold rate is.

• Loan against securities: To get loans through this means, all you need to do is to pledge a corresponding security in favor of the bank. 

• Commercial business loan: If you are looking for a commercial business loan, you can certainly do so with the help of ICICI Bank. It offers you a wide range of such loans like commercial vehicle loan, working capital loan and construction equipment loans.

• Pradhan Mantri Mudra Yojana: This is a collateral-free loan to the amount of Rs. 10 lakhs. This loan is for micro service units and small manufacturing service units.

• Stand-up India Scheme: This is a loan scheme developed by the Government of India for the upliftment of Scheduled Castes and Scheduled Tribes. One can get bank loans ranging from Rs. 10 lakhs to Rs. 1 crore. It favors women borrowers as well. It is for those setting up a first time venture in trading, services, and manufacturing. 

ICICI Cards

The bank offers you a wide selection of cards. With these cards, depending on their powers and limits, you can be benefitted by them immediately. Here are the different types of ICICI cards.

• Credit Cards: ICICI Bank credit cards come with a wide range of benefits such as lifestyle benefits, travel benefits, safety of the card and others. The bank offers a range of credit cards that one can avail.

• Debit Cards: With ICICI Bank debit cards, you can have the benefits of cashless transaction both offline and online. The bank is tied up with dealers and merchants around the country and the world. Arange of debit cards is available for customers.

• Prepaid Cards: These cards are ideal of small payments online, such as a few movie tickets and a couple of shopping discount passes. ICICI Bank offers you a wide range of prepaid cards to avail of.

• Travel Cards: For those who travel frequently, you get what is known as ICICI Bank Travel Card. These allow you to have problem-free payments while travelling abroad. This card comes loaded with 15 top global currencies.

• Unifare Metro Card: This is quite a unique unique card. With a Unifare Metro Card, you get the benefits of a Debit card or a Credit card, along with a Metro Smart Card for shopping at more than 22 million online merchant sites. You can also use the same to travel by the Metro. 

• Commercial Card: Commercial cards are ideal for businessmen as it offers expense management solution, vendor payment solutions and business travel benefits. 

ICICI Insurance

In today's fast-paced life, more and more people understand the importance of having a Life Insurance Policy. These policies are useful because, with their help, the Life Insurance customer knows that his or her loved ones shall be taken care of or benefitted even after his or her death, critical or terminal illness. The insurance products that you can avail of from the bank are the iProtectSmart and the Heart and Cancer. 

ICICI Pocket wallet

Pocket e-wallets are the rage these days, not only because they are trendy but also because they are incredibly useful. They offer the customer a wide range of benefits. ICICI Bank has its wallet app known as Pockets. It is powered by Visa, which means you can send and receive payments, recharge mobile, pay bills, shop anywhere and much more, regardless of your bank. You also get a physical shopping card which you can swipe while buying anything to make your life easier.

If you are an ICICI Bank customer already, it is faster to start using. All you need is your internet banking username and password. For all other banks, that is all you need as well. It means that you can download the app and start using in within a few moments. Similarly, you can send money to friends with a simple click or by tapping the receiver's phone. With the app, it becomes easier to do phone recharges, get discounts on movie tickets, and much more. You can shop on Indian websites, get fantastic deals, can personalize the app itself, and even get live support whenever you need it.

Investments

Good investments bring happiness. ICICI Bank understands this and provides its customers with a wide range of investment options. ICICI personalizes according to your needs, requirements, and circumstances. To that end, it offers investment products such as:

• Fixed income products (Fixed deposits and Bonds): When it comes to investments, the needs of individuals are different. This ICICI Bank offers a wide range of fixed investment options like FDs and Bonds, along with their subtypes.

• Senior Citizen Saving Schemes: Get assured and safe returns when you invest in ICICI Bank Senior Citizen Saving Schemes. The account can be individual or joint with spouse. 

• Public Provident Fund: This is available for both salaried individuals as well as for self-employed people. It encourages the habit of savings, gives tax benefits, safety and convenience.

• Sukanya Samriddhi Yojana Account: This investment scheme is developed by the Indian government as part of its Beti Bachao Beti Padhao.

• Mutual Funds: For meeting your long-term investment goals, mutual funds are the best. When you invest in mutual funds through ICICI Bank, you shall have the professional management skills of the bank’s fund managers. 

• Gold Monetization Scheme: Under this scheme, you need to deposit a certain quantity of gold with the bank, and the gold shall need to have 995 purity. The deposit one gets against this from the bank gains in interest. 

• IPA through applications supported through blocked account: Through this, investing becomes much easier. Making an IPO application from a savings account becomes easier. For investing, you don’t need to move money off your account. The account can be blocked, and the holder can gain in interest even while investing. 

Forex Services

Whether you are traveling overseas for business, recreation, or studies, you shall need foreign exchange. ICICI makes it easier for you to get that. It offers timely and reliable foreign currency investment services. Transferring funds overseas to others is also possible. ICICI bank offers:

• Travel card: ICICI Bank travel cards can be loaded with 15 of the global major currencies for the ultimate travel experience and ease. There is a remote reload of currency option here as well.

• Currency notes: While travelling overseas, customers can now take with them currency notes and their corresponding denominations for ease of travelling.

• Facility to send money abroad: You can now transfer abroad money easily through Foreign Currency Demand Draft and Wire Transfer.

It is easy to buy Forex as well. All you need is either ICICI Bank internet banking, the iMobile App, visiting the Forex branches or the SMS service.