SAVINGS SCHEMES OF BANKS GROUP NO: 2 T.Y. (B.B.I.

) ACKNOWLEDGEMENT It gives us immense pleasure in acknowledging the valuable and co-operative assi stance extended to us by the various individuals who have helped us successfully in completing our project. We would also like to thank the Mumbai University and Professor RenuTiwarifor gi ving us the opportunity to showcase our project making skills and for giving us proper guidance in completing the same. Last but not the least we would also like to thank our Parents, Friends and Coll eagues who have helped us in successfully completing our project.

DECLARATION We the students of St. Andrews College of T.Y.B.B.I. hereby declare that we have completed the Project SAVING SCHEMES OF BANKSfor the Subject SECURITIES AND PROT FOLIO MANAGEMENTfor the year 2012-2013. Information submitted is true and origin al to the best of our knowledge. GROUP MEMBERS NAME ROLL NO SIGNATURE JashmaCordeiro 8205 SimonaDsouza 8216 TejalKelaskar 8222 Rebecca Mendes 8227 JovitaPalaty 8237 Sneha Pinto 8242 PetrinellNunes 8252 ValentinaHenriques 8256 SayliPatil 8238 CERTIFICATE I hereby certify that the students of St. Andrews College of T.Y.B.B.I. have comple ted the Project SAVING SCHEMES OF BANKSfor the Subject SECURITIES AND PORTFOLIO MANAGEMENTfor the year 2012-2013. Information submitted is true and original to the best of my knowledge. GROUP MEMBERS NAME ROLL NO SIGNATURE JashmaCordeiro 8205 SimonaDsouza 8216 TejalKelaskar 8222 Rebecca Mendes 8227 JovitaPalaty 8237 Sneha Pinto 8242 PetrinellNunes 8252

ValentinaHenriques SayliPatil 8238 INDEX Introduction

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Case Study ICICI Bank (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) Types of Saving Schemes: Dream Deposits Fixed Deposits Recurring Deposits Savings Deposits Silver Saving Accounts Special Saving Accounts Senior Citizens Saving Schemes Professional Saving Schemes Weblography

INTRODUCTION Savings Meaning: In deposit terminology, the term Savings refers to money set aside for the purpo se of future use. Savings generally represent only one part of an individuals ass ets and, unlike investments, they usually have a minimal exposure to risk. Savings Example: For example, Savings will often be deposited into a bank savings account where t he funds will earn a nominal amount of interest and will be insured in most case s. In the United States, bank savings and checking accounts are insured by the F ederal Deposit Insurance Corporation or FDIC. Savings accounts in countries othe r than the United States carry different terms that may even include different c urrency deposit options. Most major countries have their own versions of deposit insurance to protect the Savings accounts of the customers of financial institu tions. Savings represent an important part of an individuals, as well as a nations , basic assets. Definition of Savings Account A deposit account held at a bank or other financial institution that provides pr incipal security and a modest interest rate. Depending on the specific type of s avings account, the account holder may not be able to write checks from the acco unt (without incurring extra fees or expenses) and the account is likely to have a limited number of free transfers/transactions. Savings account funds are cons idered one of the most liquid investments outside of demand accounts and cash. I n contrast to savings accounts, checking accounts allow you to write checks and use electronic debit to access your funds inside the account. Savings accounts a re generally for money that you don t intend to use for daily expenses. To open a savings account, simply go down to your local bank with proper identification and ask to open an account. Savings deposits Accounts that pay interest, typical ly at below-market interest rates, that do not have a specific maturity, and tha t usually can be withdrawn upon demand. ICICI BANK

INTRODUCTION ICICI Bank Ltd. is India s second largest financial services company headquarter ed in Mumbai,Maharashtra. It offers a wide range of banking products and financi al services to corporate and retail customers through a variety of delivery chan nels and through its specialised subsidiaries in the areas of investment banking , life and non-life insurance, venture capital and asset management. The Bank ha s a network of 2,533 branches and 6,800 ATMs in India, and has a presence in 19 countries, including India. The bank has consolidated total assets of about US$ 102 billion as of September 30, 2009. The ICICI Group has leadership positions a cross the financial services sector, including insurance, securities brokerage, asset management and private equity. The bank has subsidiaries in the United Kingdom, Russia, and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai Intern ational Finance Centre; and representative offices in United Arab Emirates, Chin a, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The company s UK subsidiary has established branches in Belgium and Germany. ICICI Bank s equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (A DRs) are listed on the New York Stock Exchange (NYSE).

DREAM DEPOSIT PLAN All of us have dreams. We dream for ourselves, for our families,friends and relati ves and for society at large too.Some of our dreams are need based, while some a spirational.The dreams that are close to us; they mean everything.. We all want tonurture them and if possible secure them so that we can accomplish them under all odds.So be it our childs education, daughters marriage, owning a ho me,driving our car or planning our retirement, it is imperative that wesecure th em at all costs.To secure them, you need to plan your finances prudently, based onyour needs and aspirations at different points in time. A plan thatgives you t he flexibility in terms of choices that suit your needs andan assurance of a ret urn that is safe and secure. ICICI Bank is proud to present Dream Deposits - A unique offering offour deposit p lans that enable you realise your dreams at every stageof your life. TYPES OF DREAM PLAN: 1. Dream Car Plan 2. Dream Home Plan 3. Dream Education Plan 4. Dream Retirement Plan

5. Dream Gold Plan

DREAM HOME PLAN Buying a home is probably one of your most cherished dreams in ourlives. ICICI B ank Dream Home Plan enables you to plan for you dream ina systematic manner. Als o, it ensures that your FD/ RD created by you from the corpus of your savings stays safe with ICICI Bank What more, ICICI Bank Dream Home Plan offers multiple benefits: 1. Helps you to utilize your monthly savings to form a corpus for thedown paymen t required to buy your dream home. 2. Entitles you to get the following benefits on ICICI Bank Home Loans: 3. 25% waiver on the Processing Fee for your home loan from ICICI Bank* 4. Property alerts from ICICI Bank Home Finance to help you identify yourdream h ome 5. Attractive rate of interest on our home loans

DREAM CAR PLAN Secured and fixed returns on Fixed Deposit/ Recurring Deposit Minimum deposit amount : Fixed Deposit: Minimum Rs. 50,000 Recurring Deposit: Minimum Rs. 3000 per month ( subject to total principal deposit minimum of Rs. 50,000) Minimum Tenure of FD/ RD : 9 months Premature withdrawal: Allowed, subject to the terms and conditions governing the Dream Car Plan DREAM GOLD PLAN

1.

Secured and fixed returns on Fixed Deposit/ Recurring Deposit

2. Minimum deposit amount : Cumulative Fixed Deposit: Minimum Rs. 12,000/Recurring Deposit: Minimum Rs. 2,000/- per month Minimum Tenure of FD/ RD : 6 months Premature withdrawal: Allowed Option of automatic renewal or automatic closure on maturity

DREAM RETIREMENT PLAN 1. 2. Total tenure : Investment + Benefit phase: 10 years Investment phase:

Minimum RD tenure: 3 year , and there after in multiples of 3 months. Min. RD amount: Rs. 2000 and in multiples of Rs. 100 thereafter. 3. Benefit Phase:

Option of quarterly / annual pay out min tenure of 12mnths\ DREAM EDUCATION PLAN 1. 2. Total tenure : Investment + Benefit phase: 10 years Investment phase:

Minimum RD tenure: 3 year , and there after in multiples of 3 months. Min. RD amount: Rs 500 and in multiples of Rs 100 thereafter 3. Benefit Phase :

Option of quarterly / annual payout Min. tenure : 12 months ICICI Bank Youngstars Account mandatory for the plan, as repaymentaccount in ben efit phase shall be the Youngstars Account FIXED DEPOSITS A Fixed Deposit (also known as FD) is a financial instrument provided by Indian banks which provides investors with a higher rate of interest than a regular sav ings account, until the given maturity date . It may or may not require the crea tion of a separate account. It is known as a Term Deposit in the Canada, Austral ia, New Zealand and the US and as Bond in United Kingdom they are considered to be very safe investments. Term Deposits in India is used to denote a larger clas

s of investments with varying levels of liquidity. The defining criteria for a F ixed Deposit is that the money cannot be withdrawn for the FD as against Recurri ng Deposit or Demand deposit before maturity. Some banks may offer additional se rvices to FD holders such as loans against FD certificates at competent interest rates. Its important to note that banks may offer lesser interest rates under u ncertain economic conditions. The interest rate varies between 4 and 11 percent. The tenure of an FD can vary from 10, 15 or 45 days to 1.5 years and can be as h igh as 10 years. These investments are safer than Post Office Schemes as they ar e covered under Deposit Insurance & Credit Guarantee Scheme of India. They also offer Income tax and Wealth tax benefits. Fixed deposits are a high-interest-yielding Term deposit offered by banks in Ind ia. The most popular form of Term deposits are Fixed Deposits, while other forms of term Deposits are Recurring Deposit and Flexi Fixed Deposits (the latter is actually a combination of Demand deposit and Fixed deposit). To compensate for the low liquidity, FDs offer higher rates of interest than sav ing accounts. The longest permissible term for FDs is 10 years. Generally, the l onger the term of deposit, higher is the rate of interest but a bank may offer l ower rate of interest for a longer period if it expects interest rates, at which RBI lends to banks ("repo rates"), will dip in the future. Usually in India the interest on FDs is paid every three months from the date of the deposit. (e.g. if FD a/c was opened on 15th Feb., first interest instalment would be paid on 15 May). The interest is credited to the customers Savings ba nk account or sent to them by cheque. This is a Simple FD. The customer may choo se to have the interest reinvested in the FD account. In this case, the deposit is called the Cumulative FD or compound interest FD. For such deposits, the inte rest is paid with the invested amount on maturity of the deposit at the end of t he term. Although banks can refuse to repay FDs before the expiry of the deposit, they ge nerally don t. This is known as a premature withdrawal. In such cases, interest is paid at the rate applicable at the time of withdrawal. For example, a deposit is made for 5 years at 8 %, but is withdrawn after 2 years. If the rate applica ble on the date of deposit for 2 years is 5 per cent, the interest will be paid at 5 per cent. Banks can charge a penalty for premature withdrawal. Banks issue a separate receipt for every FD because each deposit is treated as a distinct contract. This receipt is known as the Fixed Deposit Receipt (FDR), th at has to be surrendered to the bank at the time of renewal or encashment. Many banks offer the facility of automatic renewal of FDs where the customers do give new instructions for the matured deposit. On the date of maturity, such de posits are renewed for a similar term as that of the original deposit at the rat e prevailing on the date of renewal. Income tax regulations require that FD maturity proceeds exceeding Rs 20,000 not to be paid in cash. Repayment of such and larger deposits has to be either by " A/c payee " crossed cheque in the name of the customer or by credit to the savi ng bank a/c or current a/c of the customer. Flexibility of tenure - 7 days to 10 years Liquidity Premature / Partial withdrawal permitted (subject to applicable charges) Loan / Overdraft upto 90% of FD amount Option of monthly / quarterly payout available Competitive interest rate - Know interest rates for various tenures Convenient ways to open a FD Internet Banking Phone banking ICICI Bank Branch

RECURRING DEPOSITS It is a saving avenue which works like the systematic investment plan of a mutua l fund, wherein a particular amount of money is deducted from your account every month. You have to apply for a recurring deposit account and ask the bank to de duct the stipulated amount from your savings or current account every month. You r deposit can also be paid through internet banking. Almost all banks offer this scheme and you can invest as little as Rs 5 with public sector banks or, Rs 500 with private banks. The investment tenure ranges from a minimum of six months t o a maximum of 10 years. The date of monthly instalments will depend on the date on which you open your account. If you started on June 1, 2011, your installmen ts will be deducted on 1st of every month, thereafter. You will get a passbook w hich will contain a record of all the transactions. You can either have an indiv idual account or apply jointly with any family member, even a minor. RECURRING DEPOSIT ACCOUNT ICICI Bank Recurring Deposits are an ideal way to invest small amounts of money every month and end up with a large kitty on maturity. High recurring billing and recurring payments can be a drain on your finances an d hence large investments may seem a plan away. Let us help you in processing your recurring payment through our recurring billi ng software that keeps track of your investments with us. This can be easily ava iled of through a recurring account online that comes with letting us serve you through Internet banking. You may even transfer funds through Internet banking i nto your recurring account. A recurring account transfer gets done in seconds th rough Internet banking.

FEATURES With our recurring deposits you can avail a host of facilities with ICICI Bank. You may check on recurring account receivable, recurring account payable, recurr ing account fees and all recurring debit account transactions. A recurring deposit account with ICICI Bank allows you a loan against the deposi t. Our new recurring deposit account also has a special feature - Non-applicabil ity of Tax Deduction at Source (TDS). The minimum balance of deposit is Rs.500 per month and thereafter in multiples o f Rs.100. The tenure ranges from 6 months to a maximum period of 10 years, recur ring deposit of 3 months thereafter. The recurring deposit also comes with a nomination facility. Encourages savings without stress on your finances. High rates of interest (identical to the fixed deposit rates). Non-applicability of Tax Deduction at Source (TDS).

Minimum Balance** The minimum balance of deposit is Rs. 500 per month and thereafter, in multiples of Rs. 100. Period of Deposit

The minimum period is 6 months, and thereafter in multiples of 3 months.

Nomination Nomination facility available for bank deposits. There can be only one Nominee for a deposit account whether held singly or joint ly. A person legally empowered to operate a minor s account can file a nomination on behalf of the minor. Applicants can make nomination by filling up the Form prescribed under the Banki ng Companies (Nomination) Rules 1985. The nomination details can be changed during the subsistence of the account rela tionship by filling up the Form prescribed under the Banking Companies (Nominati on) Rules 1985. For more details approach your bank. Convenient booking through : ICICI Bank Branch ICICI Bank Internet Banking : o Log into www.icicibank.com using Internet Banking user ID and password o Click on Open Fixed/Recurring deposit in "My Accounts" section o Click on open Recurring Deposit ICICI Bank Customer Care : o Select language o Press "1" for existing customers DOCUMENTATION Identity proof : Passport PAN card Voter ID card Driving licence Government ID card Photo ration card Senior citizen ID card Address proof : Passport Telephone bill Electricity bill Bank Statement with Cheque Certificate/ ID card issued by Post office

* Any other Identity proof or Address proof document can be submitted, subject t o the Bank s satisfaction. Tax on Recurring Deposits First, what I do know for sure RDs are not tax free! While doing research for this article I came across a few forums where people we re asking if interest income from RDs is tax free or not. I dont know what the or igin for the question is but it could be people confusing no TDS with any tax at all. Banks dont deduct tax at source on RDs but the interest itself is taxable like ot her interest income. It will be added to the rest of your income and taxed at yo ur slab. This is what I think will happen If you take a RD for the duration of over a year, say 2 years then you will have to see how much interest accrues to you in one financial year, and then declare that interest as part of your return and pay tax on it. So, even though you are still paying installments for the RD, and it hasnt mature

d yet, you will need to declare the income that has accrued to you, and pay tax on it. Interest rates on Recurring Deposits

I was going through the interest rate page of ICICI Bank, and saw that they give interest rates of 8.25% on RDs of 12, 15, 18, and 21 months, but they give 9.25 % on a 390 day fixed deposit. A few other bank websites said that they offered RDs at the same interest rate a s the fixed deposit, but I think that means exclusion of special interest rates that banks give on deposits of 390, 555, 400 day maturities etc., and since thes e are the maturities that give you the higher interest rate, it looks like the i nterest on a RD will be lower than a fixed deposit. Effect of Direct Tax Code on Recurring Deposits Ive seen that sooner or later someone comes along and asks how DTC will affect a particular product, so I thought to include this here. There are no tax benefits of investing in RDs, they arent covered under Section 8 0C, and the interest is not tax free either. So, there are no tax benefits of in vesting RDs that will be affected negatively by the DTC. The tax slabs will chan ge in DTC, and since interest income from RDs are going to be taxed according to your income slab thats the only effect that DTC will have on RD. In my opinion, this is not material or something that will make a difference in your decision t o opt for a RD or not. Stopping Recurring Deposits Early Banks allow you to stop your recurring deposit earlier than the maturity period, but like fixed deposits, you get a lower interest rate than what you have settl ed for, and in some cases there is some penalty as well, which is also called a service charge in some banks. NRI ACCOUNT What is NRE Recurring Deposit Account? NRE Recurring Deposit Account, maintained in Rupees, is an excellent option for NRIs to make big savings by investing small sums every month from your foreign i ncome. Why choose NRE Recurring Account? The investment per month is not big and you can avail of easy account funding op tions. Plus, you get full repatriability Features and Benefits Easy funding of account: transfer funds every month from your NRE Savings accoun t. Flexible monthly installments: from INR5,000 to INR100,000 in multiples of INR1, 000. Multiple tenure options: ranging from 1 to 10 years. Constant access: free Internet banking for 24-hour access to your account. Easy movement: funds are fully repatriable. Tax benefits: interest earned not taxable in India. Favourable exchange: Competitive exchange rates on conversion of your foreign cu rrency into rupees. .

SAVINGS BANK ACCOUNT Savings accounts are accounts maintained by retail financial institutions that p ay interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a check). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and therefore often does not incur a reserve requirement freeing up cash from the bank s vault to be lent out with interest. The other major types of deposit account are transactional (checking) account, m oney market account, and time deposit. DEFINITON Investopedia explains Savings Account Because savings accounts almost always pay lower interest rates than Treasury bi lls and certificates of deposit, they should not be used for long-term holding p eriods. Their main advantages are liquidity and superior rates compared to check ing accounts. Most modern savings accounts offer access to funds through visits to a local branch, over the internet and through automated teller machines. Savings accounts are accounts maintained by retail financial institutions that p ay interest but cannot be used directly as money (for example, by writing a cheq ue). These accounts let customers set aside a portion of their liquid assets whi le earning a monetary return. How to Deposit Money in a Savings Account Saving money is one thing that many people find difficult. However, starting a s avings account at your bank is one way to get your own nest egg started. Deposit ing money in your savings account can be done in several different ways. Documentation required to open Savings Bank Accounts Identity proof to open Savings Bank Accounts : Passport PAN card

 Address

Voter ID card Driving licence Government ID card Photo ration card Senior citizen ID card proof to open Savings Bank Accounts : Passport Telephone bill Electricity bill Bank Statement with Cheque Certificate/ ID card issued by Post office

* Any other Identity proof or Address proof document can be submitted, subject t o the Bank s satisfaction. Note: Please ocument. Please Please Please

* Mandatory to provide Permanent address and telephone number Saving Account - Features Other Accounts ICICI Bank Savings Accounts Features The ICICI Bank International debit card is a debit-cum-ATM card providing you wi th the convenience of acceptance at merchant establishments and cash withdrawals at ATMs. Click here for details The next time you want to withdraw cash from your ICICI Bank Savings account, ju st walk into any bank s ATM and use your ICICI Bank ATM-cum-Debit card for free. The above benefit is available free of cost for the first 5 transaction per mon th uptoRs 10,000 per transaction. Money Multiplier Facility Internet Banking is offered free of cost. Anywhere Banking - This facility entitles the account holder to withdraw or depo sit cash upto a limit of Rs.50,000 across all ICICI Bank branches. You can give us various types of standing instructions like transferring to fixe d deposit accounts at regular intervals. An average monthly balance of Rs.10,000 only in metro and urban locations, Rs.5, 000 only in semi-urban and Rs. 2,000 only in rural locations. Nomination facility is available. Interest is payable half-yearly. Average Monthly Balance* Type of Account Balance Savings Account Rs. 10,000 in metro and urban locations Rs. 5,000 in semi-urban locations Rs. 2,000 in rural locations Non-maintenance of the minimum average monthly balance attracts a fee as given b elow: Non Maintenance MAB charges** Metro/Urban: Rs. 250 per month; if Rs 5,000 =< MAB <Rs 10,000 Rs 350 per month; if MAB<Rs 5,000 Semi-Urban:

produce the original document(s) for verification & a photocopy of each d fill the form in CAPITAL LETTERS using Black ink. countersign in case of any overwriting. avail of the nomination facility.

Rs. 250 per month; if Rs 2,500 =< MAB <Rs 5,000 Rs 350 per month; if MAB<Rs 2,500 Rural: Rs. 250 per month; if Rs 1,000 =< MAB <Rs2,000 Rs 350 per month; if MAB<Rs 1,000 Metro/Urban: Rs. 250 per month; if MAB is between Rs. 10,000 and Rs. 5,000 Rs. 350 per month; if MAB falls below Rs. 5,000 Semi-Urban: Rs. 250 per month; if MAB is between Rs. 5,000 and Rs. 2,500 Rs. 350 per month; if MAB falls below Rs. 2,500 Rural: Rs. 250 per month; if MAB is between Rs. 2,000 and Rs. 1,000 Rs. 350 per month; if MAB falls below Rs. 1,000 Nomination Facility Nomination facility available for bank deposits. There can be only one Nominee for a deposit account whether held singly or joint ly. A person legally empowered to operate a minor s account can file a nomination on behalf of the minor. Applicants can make nomination by filling up the Form prescribed under the Banki ng Companies (Nomination) Rules 1985 The nomination details can be changed during the subsistence of the account rela tionship by filling up the Form prescribed under the Banking Companies (Nominati on) Rules 1985 For more details approach your bank. *At erstwhile Sangli Bank locations (not migrated yet) the following savings acc ount products are also offered: Savings account without chequebook with a minimum balance requirement of Rs.50. Savings account with Non-MICOR chequebook with a minimum balance requirement of Rs.300. Savings account with MICOR chequebook with a minimum balance requirement of Rs.5 00. No Frills Savings account with a minimum balance requirement of Rs.10.

SILVER SAVINGS ACCOUNT Silver Savings Account - Features ICICI Banks Silver Savings Account entitles you to select privileges and offers. The ICICI Bank International VISA debit card is a debit-cum-ATM card providing y ou with the convenience of acceptance at merchant establishments and cash withdr awals at ATMs. Money Multiplier Facility. Internet Banking is offered free of cost. You can give us various types of standing instructions like transferring to fixe d deposit accounts at regular intervals. Nomination facility is available. Interest is payable half-yearly. Nomination Nomination facility available for bank deposits. There can be only one Nominee for a deposit account whether held singly or joint ly. A person legally empowered to operate a minor s account can file a nomination on behalf of the minor. Applicants can make nomination by filling up the Form prescribed under the Banki ng Companies (Nomination) Rules 1985. The eligibility criteria for opening an ICICI Bank Silver Savings Account? The Silver Savings Account brings to you exclusive benefits, especially created for valuable customers like you. To retain membership of this elite Silver Saving s circle, all you need to do is maintain a minimum monthly average balance (MAB) of Rs.25,000 in your Savings Account. If you do not maintain the required minimu m balances for two consecutive quarters, Silver Savings Account benefits will be withdrawn The minimum balance required to be maintained for an ICICI Bank Silver Savings A ccount? The minimum monthly average balance (MAB) to be maintained in your Silver Saving s Account is Rs.25,000. Non-maintenance of MAB in any month will attract a charg e* as per the following guidelines: MAB maintained in the account Charges to be levied Rs.10,000 =< MAB < Rs.25,000 Rs. 175 per month Rs. 5,000 =< MAB <Rs. 10,000 Rs. 250 per month MAB <Rs. 5,000 Rs. 350 per month * Waiver of non-maintenance of MAB charges subject to FD of min Rs.1.25 lac in t he same Customer Id *The above is applicable for customers who have opened or upgraded to Silver Sav ings Account on or after August 21, 2008. Non-maintenance of MAB charges not app licable to Salary customers. At what frequency will the interest be paid to me? Interest earned on your Silver Savings Account balance shall be credited to your account on a half yearly basis in the months of September and March. In case of the linked Money Multiplier Account, the accrued interest on the FDs created will be paid on maturity or on withdrawal in case of premature withdrawa l Do I have any facility for Standing Instructions? Yes, you can set up standing instructions through your ICICI Bank Silver Savings

Account. A few examples of the same are as below: Transfer to a Fixed Deposit. Transfer to a Recurring Deposit Make recurring payments like LIC premium, Installments etc. For more details please contact your nearest ICICI Bank branch. What are the different channels through which I can access my ICICI Bank Silver Savings Account? You can access your Silver Savings Account through: ICICI Bank branches ICICI Bank.com ICICI Bank ATMs Phone Banking Mobile Banking SPECIAL SAVING SCHEMES Special Savings Account: ICICI Banks Special Savings Account provides comprehensive banking services to no n profit motive organizations like Trusts, Associations, Societies, Clubs, NGOs, Hospitals, Educational and Research Institutes and section 25 companies and ent ities eligible for a savings account as per RBI Guidelines . The ICICI Bank Edge Free multi city chequebook facility All cheques issued by you will be payable at par at various ICICI Bank branches across the country Money Multiplier Facility On your request a Fixed Deposit is linked to your Spec ial Savings Account enabling you to enjoy high returns and maximum liquidity. To know more, No penalty for non-maintenance of minimum balances in the accounts. Internet Banking Phone Banking Free Anywhere banking Free collection of outstation cheques Free monthly account statements Inward remittance through Money2India for FCRA approved trusts Supplementary Savings Solutions with added features Can an unregistered association, clubs and societies open Special Savings Accoun t? No, accounts of unregistered Trust, associations, clubs and societies cannot be opened. They have to be necessarily registered under the Societies Act with the Registrar of Societies. Is there any specific notification/guideline from RBI/or any other government or ganisation permitting ICICI Bank to open accounts of trusts, associations, clubs and societies? ICICI Bank is a scheduled commercial bank and any bye-law stating that the entit y can open a bank account with a scheduled commercial bank will include us. What is the minimum balance required for opening this account? There is no minim um balance requirement for this account, but a cheque of Rs.25,000 should accomp any the account opening form as an initial deposit. What are the features of the Money tiplier Facility features are : Minimum balance in Special ked Fixed Deposit Fixed Deposit request will You can have more than one Multiplier Facility offered for SSA?Money Mul Saving Account should be Rs. 25,000 to generate a lin be made in multiples of Rs. 5,000 only. Fixed Deposit linked to the same Special Saving Accou

nt. You will have to give a specific request for each Fixed Deposit creating and linking. All Fixed deposit linked to the account will be enabled for automatic reverse sw eep in multiples of Rs. 5,000 when the balance in Special Saving Account falls b elow Rs. 10,000. Fixed Deposit will be broken in Last In First Out (LIFO) basis of reverse sweep. Linked Fixed Deposit will be in auto-renewal mode.

What are the charges applicable for DDs and Pay orders for this account? A multi-city chequebook is provided with accounts to facilitate fund transfer on Pan-India basis. However, in the event of request for a DD or a Pay order, the usual charges as per the directory of service charges will be applicable. Can a SSA account be opened for entities not allowed to open a Savings account? Only Roaming Current Account/Made2Order(m2o) with at-par cheque books can be off ered to such entities. The customer can get the benefits of fixed deposits inter est through Money Multiplier Facilty. What are the documents that need to be submitted for entities enjoying tax ben efit under section 11 for opening of Special Savings account with interest on sa vings balance? The following documents needs to be submitted by the entities exempt under secti on 11 for opening of Special Savings Account: Copy of the last acknowledged return of income / IT assessment order verifying t hat the income is exempt from tax Registration certificate from Income Tax establishing that the income of entity is exempt from tax Confirmation from the authorised signatory that the income of the entity is exem pt under the Income-tax Act [refer in prescribed format]. It should also be conf irmed in the letter that the trustee/authorised signatories undertakes to intima te the withdrawal of tax exemption to the Bank. This confirmation should be obta ined annually in the month of April to the effect that the entity continues to b e exempt from tax. Note: The above proof of income tax exemption is not needed for list of entities who are eligible for opening a saving account ( refer section on " Elegibility" ) except , when falling under (f) i.e. "Institutions other than those mentioned in clause (i) and whose entire income is exempt from payment of Income-tax under the Income-Tax Act, 1961" Also , Provisions of Section 10 of the Income-tax Act , 1961 refers to the entities eligible for tax exemption. All the entities exemp t under section 10 do not enjoy blanket tax exemption. Circular no.4/2002-03 dat ed July 16, 2002 issued by Central Board of Direct Taxes (CBDT), wherein, CBDT h as exempted certain specified entities falling under section 10 from the provisi ons of deduction of tax at source (TDS) which are unconditionally exempt from ta x under section 10 and are not required to file the return of income under secti on 139 of the Income tax Act, 1961. Such entities are eligible to open a Special Savings Account. Is TDS deductible on the interest earned on savings account and deposits? No TDS is applicable on savings interest. In case of interest on Money Multiplie r/FDs, no TDS is applicable for interest uptoRs. Rs. 5000 under section 194A. On ly if the interest received or likely to be received exceeds Rs. 5000 but does n ot exceed Rs.100,000 during the financial year Form 15G can be submitted for the purpose of exemption from TDS. Otherwise, the entity must produces a certificat e of tax exemption u/s 197 , as issued by the Income Tax Dept. or provide a vali d Sec 10 exemption - which permits them unconditional exemption and shows that t hey are not required to file return of income also. Then no TDS will be deducted . Will multi-city cheques be available for this account?

Yes. With this facility, all cheques issued by you will be payable at par at var ious ICICI Bank branches across the country. This is a unique facility, which gi ves you the power to issue cheques that are treated as local cheques at all ICIC I Bank locations across India. (Option of local and/or multi-city cheque book is available.) Can multi-city cheque be issued for local clearing in the centre where the accou nt is held? Yes Can credits be routed in the account from any of our branches? Yes, anywhere ban king is offered to SSA clients. Can any fund based / non-fund based credit / loan limits be offered to these acc ounts? Credit limits are not offered as part of the product.

SENIOR CITIZENS SAVINGS SCHEMES Senior Citizens Savings Scheme, 2004 ICICI Bank s Senior Citizens Savings Scheme (SCSS) is the safest and the most co nvenient investment option for your life savings. Its credibility is further esc alated by the fact that it is a Government of India product. Additionally, it of fers the highest interest to depositors, 9% interest per annum. The ICICI Bank Edge Minimum Investments - Rs.1000 and in multiples thereof Maximum Investments - Rs.15 lacs Interest Rate - 9% p.a., TDS is applicable Interest option - Quarterly payable on 31st March, 30th June, 30th September, 31 st December Interest paid through direct credit to ICICI Bank Account, ECS facility or 4 pos t dated cheques sent to the investor every year Tenure - 5 years; depositor may extend the account for a further 3 years but req uest for the same must be submitted within one year from maturity Premature closure of account -Up to 1 year - Not allowed -After expiry of 1 year, up to 2 years - Charges @1.5% of the balance deposit am ount is deducted -On or after expiry of 2 years - Up to 2 years - Charges @1% of the -balance dep osit amount is deducted Mode of Investments - Cash or Cheque / Pay order / DD in the name of "ICICI BANK - A/C 9% S.C.S.S." Value date - Date of realisation of the cheque / DD or date of cash deposit at t

he Bank Phone Banking facility for queries Avail account statement containing details of deposit balance and transactions

Senior Citizens Savings Scheme Details: Senior Citizens Savings Scheme (SCSS) is a Government of India Product. 9% interest offered to depositors. Since the product is offered by Govt of India, this product is one of the most S afest Investment Option. Premature closure of account is possible after one year from the date of opening the account.(Charges applicable). Advantages of ICICI Banks Senior Citizens Savings Account:: Large number of Branches. Facility of Direct Credit of Interest to ICICI Bank Account. In case the investor does not want to avail Direct Credit facility or ECS facili ty, 4 Post Dated Cheques will be sent to Investor every year. Account Statement containing the details of Deposit Balance & transactions.

PROFESSIONAL SAVINGS ACCOUNT At ICICI Bank, the staff always strive to cater to all the present and emerging financial needs of our customers. ICICI Bank Professional Savings Account is an exclusive set of banking and financial services, catering to the specific needs of discerning professionals. It brings together a host of services, privileges a nd lifestyle benefits. A professional can opt for any of the banks following four variants of Professio nal Accounts: Regular Professional Account Gold Professional Account Titanium Professional Account Wealth Professional Account Listed below are the unique benefits that you can enjoy with this account: Access to Privilege Banking Zone Dedicated Relationship Manager# International Debit Card with insurance coverage* Facility to link with Current Account under CASA Family Anywhere Banking with higher limits Daily account balance alerts

Multi-city cheque book with 25 leaves And many more...

#Applicable for Wealth Management Account *Applicable to only Gold, Titanium and Wealth variant Priority services at ICICI Bank branches and Customer Care At ICICI Bank, we understand the value of your time and the opportunities it hol ds for you. This is why we offer priority services to you whenever you walk into our branch or call our Customer Care. Dedicated Wealth Manager A dedicated Wealth Manager will be your personal guide to the possibilities of W ealth Management and will work closely with you in achieving your financial goal s. You will also have access to a Customer Service Manager/Officer who will comp lement your Wealth Manager. (applicable for Wealth Professional Savings Account) International Debit Card with insurance cover A special International Debit Card with a host of benefits and offers that are v alid both nationally and internationally is designed exclusively for you. This D ebit Card also comes with enhanced ATM withdrawal and purchase limits at merchan t outlets. Also, your ICICI Bank Debit Card provides you with purchase-protectio n cover on eligible purchases against losses due to fire or burglary. What s mor e, you get air accident and personal accident cover too! For details, visit www. icicibank.com. Higher cash deposit and cash withdrawal limits at our branches We understand that at times you need to withdraw or deposit a large amount of ca sh at your non-base branch. That is why we have increased these limits especiall y for you. Facility to link your Professional Savings Account with your Current Account You can link your Professional Savings Account with your Current Account and enj oy additional benefits. Not only this, you can also link the Savings Accounts of your family members and pass on the privileges to them as well. Linking all your accounts under CASA Family Banking provides you with the follow ing benefits: Monthly Average Balance (MAB) requirement at family level and not at each accoun t level Flexibility to maintain balances in any one or more accounts Free limits at the family level for Current Accounts rather than separate limits for each account for various transactions such as multi-city cheque usage, cash withdrawal, deposits, DD/PO, etc. e.g. for a CASA Silver Family, multi-city cheque usage is free up to Rs. 50 lac per month at the family level. This limit can be utilised in any one account or a combination of different Current Accounts. Daily account balance alert Every morning you will get an SMS giving details of the balance in your account. This will help you plan your account-related transactions in a better way. Multi-city cheque book with additional leaves Through the multi-city cheque facility, you have a unique advantage to encash yo ur cheques as local cheques in locations where ICICI Bank has a presence. Features Other Accounts In our constant endeavour to fulfill all your banking needs and to enhance exclu

sivity, ICICI Bank has launched the Professional Account - a specially designed product for professionals like doctors, lawyers, CAs, archiects and engineers. Listed below are the unique benefits that you can enjoy with this account: Access to Privilege Banking Zone Dedicated Relationship Manager# International Debit Card with insurance coverage* Facility to link with Current Account under CASA Family Anywhere Banking with higher limits Daily account balance alerts Multi-city cheque book with 25 leaves And many more... #- Applicable for Wealth Management Account *- Applicable to only Gold, Titanium and Wealth variant A professional can get additional features for any of our following four variant s of Professional Accounts: Regular Professional Account Gold Professional Account Titanium Professional Account Wealth Professional Account Eligibility Professionals like doctors, lawyers, CAs , architects and engineers

Documentation Identity proof : Passport PAN card Voter ID card Driving licence Government ID card Photo ration card Senior citizen ID card Address proof : Passport Telephone bill Electricity bill Bank Statement with Cheque Certificate/ ID card issued by Post office

* Any other Identity proof or Address proof document can be submitted, subject t o the Bank s satisfaction. Note: Please ocument. Please Please Please

* Mandatory to provide Permanent address and telephone number

WEBLOGRAPHY

produce the original document(s) for verification & a photocopy of each d fill the form in CAPITAL LETTERS using Black ink. countersign in case of any overwriting. avail of the nomination facility.

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