ICICI Bank has established itself as one of most premium banking institutions for Indian customers all over the world. It competes with SBI and Citi Bank in India for acquiring the largest market in Indian banking system. ICICI bank has several ATMs and branches spread evenly across rural and urban establishments all over India.
Here, we shall discuss the various services offered by the bank including credit/debit cards, loans, insurances, as well as savings accounts.
Credit Cards offered by ICICI Bank
ICICI Bank offers over 40 different varieties of credit cards to its most valued customers. Here we shall look at the top 5 most popular credit cards offered by the bank.
The ICICI Bank Coral credit card falls under the gemstone collection of credit cards offered by the bank. These card offers several cash back and discountoffers.
You can avail cash rewards using this card for dining, as well as grocery and lifestyle shopping.
This card features a small joining fee of 1,000 Rs. and the renewal fee for each year is 500 Rs.
You can save up to 15% on dining experience with over 800 different partnered restaurants across the country.
The ICICI Bank Sapphiro credit card too falls under the gemstone collection of credit cards offered by the bank.
You can avail premium Bose sound-tune headphones for free as part of the joining offer along with the card.
You also get unlimited access to airport lounges across the world.
You can save up to 15% on dining experience with over 800 different partnered restaurants across the country.
This card features a joining fee of 6,000 Rs. and the renewal fee for each year is 3,500 Rs.
The ICICI Bank Rubyx Visa credit card too falls under the gemstone collection of credit cards offered by the bank.
You can avail premium Sennheiser HD221 sound-tune headphones for free as part of the joining offer along with the card.
You also get unlimited access to airport lounges across the world.
You can also avail the benefits of buying one get one free movie tickets with this card and a complimentary round of golf at partnered outlets.
You can save up to 15% on dining experience with over 800 different partnered restaurants across the country.
This card features a joining fee of 3,000 Rs. and the renewal fee for each year is 2,000 Rs.
This card falls under the Fuel Cards category offered by ICICI Bank. It helps in saving on fuel recharges by offering fuel surcharge waivers to avid travellers.
This card features a joining fee of 199 Rs. and the renewal fee for each year is nil.
You can earn up to 6 payback points on spending every 100 Rs. with this card at the partnered HPCL fuel stations.
You can save up to 15% on dining experience with over 800 different partnered restaurants across the country.
Avail benefits of 2.5% cash back as well as 2.5% fuel surcharge waivers with this card.
You also get the benefits of 2 free movie tickets every month using this card.
The Jet Airways ICIC Sapphiro credit card falls under the category of airline credit cards offered by ICICI bank.
This card is perfect for people who commute a lot via flights to help them save on hotel and flight bookings.
You get the benefit of 10,000 bonus JPMiles and complimentary Jet Airways ticket as a welcome voucher with this credit card.
You can easily earn 7 JPMiles on spending every 100 Rs. with this card.
Loans offered by ICICI Bank
The different types of business loans offered by the ICICI Bank include,
- Term Loan
- Loan Against Property
- Gold Loan
- Loans Against Shares and Securities
- Cash Credit Facility
- Line of Credit Facility
- Bank Guarantees
- You can either get a new business loan for business expansion purposes from the ICICI bank fixed as well as floating interest rates.
- For thehigher amount of business loans, the banks often ask for security/collateral, however, a lower amount of loan can be acquired by the business without placing any collateral against the amount.
- ICICI Bank classifies its car loan into the following categories,
- New Car Loan
- Pre-owned Car Loan
- You can get a car loan from the bank for a monthly income as low as 16,700 Rs. per month.
- ICICI Bank is one of the only few banks that can offer a 100% of the price of the car as a loan amount to the individual to purchase a new car.
- You can avail a new car loan for a period of up to 7 years at a time.
- The student loan schemes offered by ICICI bank is also known as the Shiksha Sarthi Education loan scheme.
- You can avail this loan for graduation, post-graduation or diploma courses.
- This loan can enable you to pursue higher education within India as well as out of India.
- ICICI Bank also offers a complete package as a student solution service to help them provide the necessary guidance as well as financial planning tips for higher education.
- You can either acquire an education loan as a secured or an unsecured loan.
- ICICI Bank offers instant gold loan approvals. The offered amount for a gold loan ranges from 10,000 Rs. to 15 lakh Rs. depending upon the value of gold placed as a security with the bank.
- You can avail a gold loan for a short period of 6 months to 1 year at max.
- The bank can approve a gold loan in as short as just 30 minutes after checking the value of the gold.
- ICICI Bank offers a home loan at small 8.35% rate of interest.
- The processing fee on the home loan is a mere 1% of the total loaned amount.
- You can avail a loan of up to 10 Crores Rs. value with a good credit history.
- The bank classifies the various loan types into the following categories,
- ICICI Pre-Approved Loan
- Personal loan linked to home loan schemes
- ICICI Home loan transfer and top up
- ICICI Bank Saral Rural Housing Loan
- Lease Rental Discounting Loan
- Land loan
- Office Premises Loan
- NRI Home Loans
- Pradhan Mantri AwasYojna Loan
- The repayment period of the loan can go up to as long as 30 years at a time.
- ICICI Bank offers a personal loan for as low as 11.29% rate of interest.
- A personal loan can be availed for as long as 5 years at a time.
- You can avail a personal loan from the bank for a period of up to 5 years at a time.
- The maximum loaned amount is 40 Lakh Rs. at a time.
- The processing fee on the personal loan is slightly higher at 2.25% of the loaned amount.
Insurances offered by ICICI Bank
- The ICICI Bank offers the following plans/policies under the life insurance bracket,
- Term Insurance Plans
- Health Insurance Plans
- Retirement Plans
- The life insurance plan protects the needs of your families in case of your early demise in a natural/man-made accident.
- You can apply for a life insurance with ICICI Bank online.
- You can use the online quote calculator on the bank’s website to calculate the exact premium amount for a life insurance.
General Insurance – ICICI Bank classifies all the other types of insurances except life insurance under the general insurance bracket.
- The health insurance offered by ICICI bank has the following benefits
- Complete health insurance – Protects you and your family against financial costs of immediate or unforeseen health threats.
- Health Booster – Helps you cover the costs of surgical medical procedures.
- Personal Protect – Gives you the benefits of financial protection against harm from accidental death as well as permanent total disablement.
- Save Tax –Investing in a health insurance can help you save tax via health insurance solutions.
- This insurance policy allows you to call for repair service at your location for road side assistance.
- You can avail the benefits of getting your car repaired at over 3,500 different garages spread throughout the country.
- The car insurance policy also offers a zero-depreciation cover and coverage on parts replacement too.
- The garage cash cover policy allows you a daily allowance for commute for every day your car spends in the garage getting repaired.
- Protects your house and the assets in it against physical damage from man-made and natural disasters.
- You can get various aspects of the house like the basic structure as well as the assets within the house with the All-risk cover facility.
- Avail exciting discounts on insuring the household properties as well as long term insurance plans.
Savings Accounts offered by ICICI Bank
- Get access to a free Titanium Privilege Debit card along with this account.
- Access to 40% discount on annual locker rent on opening this account with the bank.
- Open a trading account for a small price of 975 Rs. with this bank account.
- Get access to a free Gold Privilege Debit card along with this account.
- Access to 20% discount on annual locker rent on opening this account with the bank.
- Open a trading account for a small price of 975 Rs. with this bank account.
- Get access to a free Smart Shopper Silver Debit card along with this account.
- Access to 15% discount on annual locker rent on opening this account with the bank.
- Access to free passbook, cheque book as well as the internet and mobile banking facilities with a silver savings account.
- Get access to a free Smart Shopper Silver Debit card along with this account.
- Access to free passbook, cheque book as well as the internet and mobile banking facilities with a silver savings account.
- Specially designed for kids in the age group of 10 to 18 years.
- Get access to a free young stars debit card for kids.
Debit Cards offered by ICICI Bank
- This card comes under the Gemstone debit card range of cards by ICICI Bank.
- It features an annual fee of 1,499 Rs. every year.
- You can get a buy 1 get 1 offer on movie tickets with this card.
- You can also avail benefits of the culinary treats program to save 15% on dining at several restaurants in India.
- This card comes under the Gemstone debit card range of cards by ICICI Bank.
- It features an annual fee of 749 Rs. every year
- You can get access to a complimentary Airport lounge with this debit card.
- This card comes under the Gemstone debit card range of cards by ICICI Bank.
- It features an annual fee of 449 Rs. every year.
- You can get your hands on up to 1000 payback points as a joining bonus with this debit card.
- This card comes under the personal debit card range of cards by ICICI Bank.
- You can avail up to 10 payback points on spending every 100 Rs. with partnered outlets.
- This card comes under the personal debit card range of cards by ICICI Bank.
- You can earn up to 4 payback points on spending every 200 Rs. with partnered outlets.