Savings Account
Product Features | ||
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Types of Accounts |
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Currency |
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Minimum Deposit |
No Minimum Deposit |
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Transaction Fees |
No Monthly Fees |
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Deposit Method |
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Interest Payment |
Computed daily and paid monthly |
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Linking an external Chequing Account |
Yes. Linked to the external Chequing Account from which the initial deposit was made. An additional 2 external Chequing Accounts can be linked. |
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Statements to Customers |
Physical statements sent once a month to the customer |
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Insurance |
CDIC Coverage Eligible |
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RSP Eligible |
Yes |
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Investment by a minor |
A minor, (person under the age of 18 years) is not eligible to open a savings account with ICICI Bank. A joint account with a minor is also not a valid application. |
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Issuance of tax receipts (T5) |
If any customer earns interest over $50, a T5 will be issued |
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Upon death of Investor before maturity of deposit |
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Additional Features |
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