Each depositor is insured by the Deposit Insurance and Credit Guarantee Corporation up to a maximum of Rs. 5 lakh, for both principal and interest amount held by him in the same right and same capacity. Also, the Customer declare/s that all the information voluntarily furnished by them to the Bank are true, correct and complete. For any other reasons as the Bank deems fit with prior notice to the Customer.
Which is the second largest currency in the world?
Euro is the single currency which is the second most traded and reserve currency of the world.
Accountholders should exercise care when drawing cheques and should not draw cheques by any means, which may enable a cheque to be altered in a manner, which is not readily detectable. Upon receipt of a cheque book or before use, you should check the cheque serial number, account number and your name printed on the cheques and the number of cheques, and report any irregularity to us as soon as reasonably practicable. You are responsible for keeping your cheque books and cheques safe from loss, theft or unauthorised access or use, under lock and key or taking other safeguards as appropriate. You may make withdrawals from your Savings Account at our counter during business hours of our branch. Where a Savings Account is closed during an interest period whether by you or by us for any reason, interest is payable only up to the last calendar day before closure.
Interest is not taxable in case of NRE and FCNR Fixed Deposits held by individuals. In the case of NRO deposits, tax is deducted at source at the rate of 30.9 %. To be funded with remittance from overseas or transferred from other NRE / FCNR accounts.
In the event the above said MAB requirement is not maintained the Freedom Account Holder shall be obliged to pay the requisite charges as may be applicable for transacting on Non-ICICI ATMs during the period of the quarter. On the Small Deposit Account being put under freeze, customer can get the account activated anytime by submitting the valid KYC documents at any ICICI Bank branch. There is no monthly average balance requirement for this account.
Q.6. Answer the following questions on the basis of thefollowing information
An attested copy of Death certificate, Term Deposit Receipts, Will or testamentary disposition, if any, or an attested copy of Legal Heirship Certificate issued by a Tahsildar /corporations. The amount can be tendered by means of A/c payee Cheque/DD issued in favor of SHRIRAM TRANSPORT FINANCE COMPANY LIMITED. In a Non-Cumulative scheme the interest will be credited on the Last day of every month in case of Monthly, Last day of March/June/September and December in case of Quarterly, Last day of March and September in case of Half-Yearly and Last day of March in case of Yearly.
- The ‘call option’ will be permissible and may be exercised after 5 years with prior permission of the Reserve Bank.
- “Customer” shall mean the minor, above the age of ten years, holding an Account with ICICI Bank, with the mode of operation as ‘single’.
- This is also applicable to deposits having operating instructions “Either or Survivor”.
- Non-base Branch of Other Centre – Outstation cheque collection charges plus fund transfer charges will be levied.
Foreign exchange earned and/or gifts received from close relatives and repatriated to India through normal banking channels by resident individuals. Foreign exchange earnings could be through export of goods and/or services, royalty, honorarium, etc. (No restriction on minimum or maximum amount of deposit.)8Rate of InterestBank’s bucket-wise rate of interest on term deposit applicable for the period as mentioned in court order would be applicable.
EFT – (Electronic Fund Transfer)
Teller is a staff member of a bank who accepts deposits, cashes cheques and performs other banking services for the public. Real Time Gross Settelement is a fund transfer mechanism that enables money to move from one bank to another on a real time and gross basis. Simply put, real time means the transaction is settled instantly without any waiting period and gross means that it is not bunched with any other transaction.You can transfer a minimum of Rs. 2 lakh through RTGS; there is no upper ceiling though. RTGS is the fastest inter-bank money transfer facility available through secure banking channels in India. When a banker combines two accounts in the name of the same customer and adjusts the debit balance in one account with the credit balance in the other account, it is called right of set-off.
Who invented money?
The first metal money dates back to 1000 B.C. China. These coins were made from stamped pieces of valuable metal, such as bronze and copper. Early iterations of coins were also used by ancient Greeks, starting around 650 B.C.
2 Requests placed at Branch, Call Centre and Personal Internet Banking applicable per cheque book. There is any kind of loss, direct or indirect, incurred by the Customer or any other person due to any failure or lapse in the facility which are beyond the control of the Bank. The Customer agrees to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys’ fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim. Customer can do maximum 10 transactions per day for every account linked upto a maximum value of Rs 1 lac. Customer can set up maximum per day limits on the linked account which can be lesser than the maximum per day limit of Rs. 1 lac as specified by NPCI. UPI Facility shall be available to customers who have registered for the facility as per the discretion of Banks, NPCI and RBI.
DIFFERENCES BETWEEN MONEY AND CREDIT INSTRUMENTS
When a Court directs a bank to attach the funds to the credit of customer’s account under provisions of Section 60 of the Code of Civil Procedure, 1908. Equated Monthly Installment refers to the monthly payment a borrower makes on his loan. Though it is a combination of interest payment and principal repayment, the total monthly amount is calculated in such a way that it remains constant all through the repayment tenure. Current account with a bank can be opened generally for business purpose.
The Woman Debit Card shall be issued at an annual fee of Rs.150/- and which fees shall be subject to change, at the sole discretion of ICICI Bank, post giving a one-month prior notice to the Woman Cardholder. For any other fees and charges applicable on the Woman Debit Card, the Woman Cardholder shall need to refer to the details in the Tariff Annexure of Debit Card. ICICI Bank shall not be liable for any failure to perform any obligation contained in these POA holder terms and conditions or for any loss or damage whatsoever suffered or incurred by the POA holder howsoever caused and whether such loss or damage is attributable to any dispute or any other matter or circumstances whatsoever. ICICI Bank shall not be responsible for ensuring that the POA holder operates the Account for the purposes mentioned in the POA or for monitoring the transactions carried out by the POA holder in any manner whatsoever. Any dispute regarding the operation of the Account by the POA holder shall be settled by the Customer directly with the POA holder without any reference to ICICI Bank.
In a reinvestment fixed deposit scheme, the interest accrued on deposit at the end of each quarter is invested along with the principal. At the end of the quarter, the interest and the principal are both rolled over, and the interest is calculated on the total sum in the next quarter. As per RBI directives https://1investing.in/ to Banks that the interest shall be paid only on a quarterly basis and any monthly payment would be only to a discounted value. As much as the depositor opts for interest to be paid to him on the monthly basis then the monthly interest payable shall be little less than interest calculated at simple rates.
- Any loan facility against such tax-saving fixed deposits is also not available.
- All instructions for transfer must be submitted at our branches latest by 4 PM, one working day prior to the pay-in date for market trades/execution date for off market trades.
- All deposits held in the same name and same PAN, will be clubbed together under one customer folio for the purpose of calculation of income tax.
- Please note that basis Goods and Services Tax regulations and notified GST rates, Central GST, State/Union Territory GST, or Inter-State GST, as applicable, and Cess as applicable would apply on our fees and charges.
- Though it is a combination of interest payment and principal repayment, the total monthly amount is calculated in such a way that it remains constant all through the repayment tenure.
ICICI Bank does not accept any responsibility for any loss arising out of failure on the part of the Customer to carry out examination of entries in the passbook/Account statement and to point out such error and/or omission within fourteen days from the date of the Account statement/updation of passbook. The Customer hereby agree and confirm that the information given of GSTIN with respect to the number and billing address to ICICI Bank at the time of Account opening is correct and ICICI Bank can update the same in its records. The Customer agree and confirm that the GST Identification Number (“GSTIN”) provided at the time of Account opening will be the default/ primary in case of multiple GSTIN and will be used for charging GST and reporting on the GST Network (“GSTN”) portal, unless otherwise specifically requested by the Customer with respect to any transaction.
This is applicable for all current accounts opened for business purpose. Wherever there is a conflict between these ERA Terms and the Primary Terms and Conditions, these ERA Terms shall prevail. All capitalized terms not defined herein shall have the meaning as ascribed to in the Primary Terms and Conditions. On the completion of current educational course customer shall intimate ICICI Bank of the same, update his/her latest communication address in the Account and also communicate his/her intention to continue the account, if eligible to do so, at the sole discretion of ICICI Bank. Upon submission of relevant KYC documents, account will be unfreezed and converted to a regular savings account and Terms and Conditions applicable to ICICI Bank Savings accounts shall apply henceforth. Offers on debit card are subject to the savings account variant opted by the Customer and are subject to change from time to time at the sole discretion of ICICI Bank.
You should give us clear written instructions or other duly authenticated instructions clearly identifying the cheque in question by reference to its cheque number, if you wish to stop payment of a cheque. We have no obligation to act on your Instruction if we do not receive it in time to enable us to stop payment. Cheque books will either be available at our branch counters or delivered directly to the customer, to the addresses registered with the Bank as per your instructions. You must report any loss, theft or unauthorised use of a signed cheque or a cheque book to us either in writing or through PhoneBanking services as soon as reasonably practicable. All cheques must be written in dark colour non-erasable ink or ball-point pen and be signed in conformity with the specimen signature registered with the Bank; and The customer should comply with the conditions printed on the inside cover of cheque books. We may, at our sole discretion, refuse to issue a cheque book on any account, which is not maintained satisfactorily (such as excessive cheque returns, etc.
- You can use debit cards at ATMs, Shopping Outlets, Online Purchase and at many points where debit card is accepted.
- There will be no upper ceiling on the balances held in the account.
- The interest amount calculated is rounded off to the nearest rupee.
- The liability of the Guardian/parent will be binding on his/ her/their heirs, executors and administrators and his/her/its estate and effects.
- ’s can be issued by scheduled commercial banks at a discount.
- The money market helps such organizations to have the necessary funds to meet their working capital requirements.
In the event of change in employment status, the benefits applicable to the Salary/ reimbursement account stand to be modified. The joint a/c holders agree to these terms and will not dispute the same due to change in employer status of the primary A/c holder. ICICI Bank reserves the right to discontinue the services/benefits at any time without prior notice to the family members.
Under no circumstances shall the Bank be liable to the Customer for any indirect, incidental, consequential, special or exemplary loss or damages in connection with the Account or the Services. All notices in connection with the Services or the Account by the Customer to ICICI Bank shall be in writing and sent to the address as provided below and all notices shall be deemed to be received by ICICI Bank only upon acknowledgment of receipt of the same in writing by ICICI Bank. Unless otherwise agreed or specified herein, advantages and disadvantages of fiscal policy any notice or other communication may be delivered to the Customer personally. General communication of information from the Bank to all Customers as a whole or to any sub-group of Customers may, if the Bank acting reasonably considers it appropriate, be effected by means of publication of a notice on the Website , or by the putting of prominent notices on the Bank’s premises. The Account and the Services provided to the Customer are not transferable under any circumstance and shall be used only by the Customer.