Working woman? This ICICI Bank savings account promises several benefits for you

ICICI Bank Advantage Woman Aura Savings Account: To cater to the needs of working women, private lender ICICI Bank has unveiled a new account called 'Advantage Woman Aura Savings Account' which is not similar to a regular savings account. This new account comes with a number of unique offers, complementing the needs and aspirations of working women. With offers on housing convenience, shopping, travel, knowledge enhancement and more, this account is a companion for life. A salaried-woman can open this account via in four ways - either by inviting ICICI Bank’s Tab banking officer, or calling toll free number 1800 200 3045, or placing a request on the official website or by simply visiting the bank branches. The minimum Monthly Average Balance (MAB) required to be maintained for Advantage Woman Savings Account is Rs 10,000 and minimum Monthly Average Balance (MAB) varies as per the Savings Account Variant.

Here’s a list of benefits working women will get for opening ICICI Bank’s AURA account. 

1. Cashback up to Rs 750 per month on dining, entertainment and jewellery on the usage of Debit Card.

2. Free unlimited access to ATMs of all banks — with more than 2 lakh ATMs across the country, you are never far away from your money.

3. 50% discount on locker rentals available exclusively for Advantage Woman Aura Savings Account holders.

4. Home Loan: Enjoy the triple benefit of lower rate, discount on Processing Fees and getting a home in your name.

• New Home Loan: 50% waiver on Processing Fees (0.25% instead of 0.50%)
• Top-Up on existing Home Loan: 50% waiver on Processing Fees (0.5% instead of 1%)
• Balance Transfer: Zero Processing Fees.

It needs to be noted that, such will be available only if Auto Debit is the mode of repayment of the loan.

5. Two-wheeler loans: 

• Flat Rs 499 off on Processing Fees
• Loan up to 100% of on-road price

6. Auto Loans: Flat 50% discount on Processing Fees

7. Earn higher interest by setting a balance limit above which money in the Savings Account will get converted into Fixed Deposit (FD) on request.

Here’s how Savings Account coupled with high earnings of a Fixed Deposit works: 

This is achieved by creating a Fixed Deposit linked to your Savings Account providing you the following unique facilities. Your money is never idle. Creation of a linked FD ensures higher rate of interest on your Savings Bank Deposits. You can issue instructions through any channel such as the ICICI Bank Branch, ICICI Bank Phone Banking and ICICI Bank's Internet Banking for creation of Fixed Deposit(s) from the surplus funds in your Savings Bank Account (subject to a minimum of Rs. 10,000). The Fixed Deposits will be created in multiples of Rs. 5,000 for a tenure of one year or more as instructed by you.

You can withdraw the funds from your savings account through any channel such as the ICICI Bank ATM, ICICI Bank Internet Banking or by issuing a cheque. etc. All linked Fixed Deposits will be enabled for automatic Reverse Sweep in multiples of Rs. 5000 on a Last-In-First-Out (LIFO) basis when the balance in the Savings Account falls below Rs.10,000. The amount reverse swept will earn interest rates at the applicable rate for the period that the deposit was held with the bank less applicable premature withdrawal penalty. The remaining amount will continue to earn higher interest at the original rate applicable to the fixed deposit.

Under this facility, when your deposits fall, the bank will automatically renew the principal and accrued interest for the same tenure as the original deposit.