ICICI Bank launches ‘Smart Star’ account, a minor operated savings account

September 24, 2014

Mumbai: ICICI Bank, the country's largest private sector bank announces the launch of Smart Star, a savings account that can be opened and operated by minors above 10 years of age, all by themselves.

Speaking on the initiative, Mr. Rajiv Sabharwal, Executive Director, ICICI Bank, said, "We are pleased to offer the 'Smart Star' account, which is specially designed keeping in mind the requirements of minors today. The unique proposition allows minors to operate their accounts independently. This will help to inculcate a habit of saving and responsibility of spending wisely. "

The account, which will be opened in the name of the minor, will offer a personalized cheque book and a debit card with a picture of his/her choice. Minors will be able to undertake various banking transactions including issuing cheques, paying bills, recharge mobile phones, open fixed deposits and recurring deposits among others. They will also have access to banking channels such as ATM, mobile and internet banking.

This initiative underscores the Bank's ongoing strategy of reaching out to the youth through an array of specialised services like 'Pockets by ICICI Bank' - the world's most comprehensive banking application on Facebook - Mobile Banking, Expression Debit Card among others.

To apply for this account, one needs to visit his nearest ICICI Bank branch. More information on the facility can be availed on http://www.icicibank.com/Personal-Banking/account-deposit/young-stars/index.page?#toptitle

The Bank services its large customer base through a multi-channel delivery network of 3763 branches, the largest among private sector banks in the country; 11447 ATMs, call center, internet banking (www.icicibank.com), mobile banking and Facebook banking.

For news and updates about ICICI Bank, visit www.icicibank.com and follow us on www.twitter.com/ICICIBank.

About ICICI Bank Ltd: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank with consolidated total assets of US$ 124.5 billion at June 30, 2014. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 19 countries, including India.

Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.

For Press Queries:

Sujit Ganguli
Senior General Manager & Head - Corporate Communications and Brand Group
ICICI Bank Ltd,
Mumbai – 400051
Email – ganguli.sujit@icicibank.com