Overview and Savings Account Requirement of ICICI Bank

December 22, 2010 | Author: | Posted in Saving

ICICI Bank or formerly recognized as Industrial Credit and Investment Corporation of India is one of the top banking and financial services firm in India. It is the biggest private sector bank by market capitalization and the second largest bank in India. It was organized in 1955 and its present headquarter is situated in Mumbai, Maharashtra, India.

Presently, its Chairman is K.V. Kamath, Chanda Kochhar as Managing Director and CEO and N.S. Kannan as Chief Financial Officer.

ICICI Bank has stuff that composed of investment banking, commercial banking, retail banking, private banking, asset administration, mortgages and credit cards.

ICICI Bank is associated with to the Big Four Banks of India, together with its main competitors Canara Bank, State Bank of India and Punjab National Bank. ICICI bank also has an interconnections of 2,016 branches and almost 5,219 ATMs in India and it is found in 18 countries.

It has 24 million customers at the end of July 2007. ICICI Bank is also the biggest issuer of credit cards in India. ICICI Bank’s stocks are recorded on the stock exchanges at Bombay Stock E, New York Stock Exchange, Kolkata and Vadodara (formerly Baroda). Its American Depository Receipts trade on the New York Stock Exchange (NYSE).

Among the Indian banks, ICICI Bank has the largest international balance sheet and is expanding in overseas market. ICICI Bank now is present in 19 nations, including an offshore unit in Mumbai.

It has branches in Canada, Russia and the UK; representative offices in Indonesia, Bangladesh, Malaysia, China, Thailand, USA, South Africa, and the United Arab Emirates; and offshore banking units in Bahrain and Singapore, an advisory branch in Dubai; and branches in Belgium, Hong Kong and Sri Lanka. ICICI Bank is also targeting the NRI (Non-Resident Indian) citizens in specific.

Generally, the typical requirements in opening a bank account in India are the afterward.

Self-attested photocopies of the following supporting documents are required to be placed with the application. Originals thereof will have to be produced for verification.

i. Passport (where the address is similar as the address cited in account opening form)

ii. Income Tax Permanent Account Number (PAN) card. In case PAN card is not issued, Form 60/61 is to be complied.

You can also work with the following for requirements in opening a new savings account in India.

1. Proof of Identity

i. PAN card

ii. Voter ID sheet

iii. Passport (where address differs)

iv. ID badge of a real employer

v. Driving Permit

vi. Govt./Defense ID badge

vii. Photo ID badge issued by Post Office

2. Proof of Address (Any one of the following)

i. Electricity Statement

ii. Income Tax/Wealth Tax Assessment Order

iii. Credit card bill

iv. Salary slip (with address)

v. Telephone Account of charges

vi. Letter from a reputed company

vii. Bank Account Statement

viii. Letter from any certified public establishment

ix. Ration card

B. Two recent photographs (2.5 cm x 3.5 cm)

C. In condition of unable to read well clients, Left Thumb Impression (LTI) to be attached and confirmed.

D. For opening of account of minors, where proof of identity/location is not available, the same will be prepared by the Father

ICICI Bank is one of India’s most private banks. If you are concerned in applying for a bank account in ICICI bank, you must prepare and arrange the fundamentals mentioned above.

Bert Tenorio is a blogger on forex trading, investment, earn money online and banking such as on how to apply a ICICI bank account. For more more information on these topics, you should visit India Bank , for more articles on saving, investing and earn money online.

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