ICICI Bank India

ICICI Bank Limited is the 2nd major financial service firm in India. The bank is headquartered in Mumbai. The bank is known for offering a wide array of banking, financial services and products to both retail and corporate customers with its various types of delivery channels and specialized subsidiaries. They have made their presence felt in wide varieties of areas, including investment banking, life and non-life insurance, asset management, and even venture capital.


At present, ICICI Bank India Ltd has a wide network of nearly 2,533 branches, and around 6, 800 ATMs that are spread all around India. The bank has its global presence across 19 different countries.


Overview


ICICI Bank has been considered as the biggest private sector Indian bank when it comes to market capitalization, while it is the 2nd largest in terms of benefits with a sum total asset of $77 billion, as on 30th June 2009 (the current figures are way higher, but we’re still waiting for the latest results). The total profit of the bank for the quarter completed on 30th June, 2009, was found to be around $8.78 billion.


In earlier times, ICIC Bank India Ltd was referred to as Industrial Credit and Investment Corporation of India. It had a widespread network of around 1,544 branches along with 4,816 ATMs situated across the nation, and in eighteen other countries.


The bank serves a total of 24 million customers all over the world, and has been regarded as one among the ‘Big 4-Banks’ operating in the country, along with HDFC Bank, SBI (State Bank of India) and Axis Bank.


ICICI Bank India Ltd has been considered as the nation’s biggest credit card provider. The equity stake of the bank is listed on several stock exchanges including BSE, NSE, Vadodara Stock Exchange and Kolkata Stock Exchange. Most importantly, the equity stake of ICICI bank is also listed in the New York Stock Exchange.


This bank has the biggest international balance sheet when compared to all other banks operating in India. It is even increasing its banking business in the overseas market at a desirable pace.


Channels


There are 5 different channels through which ICICI bank provides its banking services and products to its customers. The 5 channels of the bank include:


  • ICICI Bank Branches

  • ICICI Bank ATM

  • ICICI Bank Mobile Banking

  • ICICI Bank Internet Banking

  • ICICI Bank Phone Banking


ICICI Bank Products and Services


ICICI Bank India Ltd provides a mass of products and banking services to its customers, which include –


  1. Loans

  2. Deposits

  3. Investments

  4. Cards

  5. Demat Services

  6. Insurance

  7. Online Services

  8. NRI services.


Deposits Offered by the ICICI Bank


Some of the forms of deposits provided by ICICI Bank Ltd include savings account, special savings account (SA), advantage deposit, fixed deposits, life-plus senior-citizens SA, security deposits, child education plan, recurring deposits, salary account, privilege banking and family banking.


ICICI Bank Ltd Loans


The different types of loan facilities provided by this bank include


  1. Home Loans

  2. Personal Loans

  3. Loan against Property

  4. Two Wheeler Loans

  5. Pre approved Loans

  6. Loan against Gold Ornaments

  7. Commercial Loans.


Home Loans – Developing a dream home according to one’s taste is every individual’s greatest wish of their life. ICICI Bank offers home loans at decent interest rates. For home loans of amounts equal to Rs. 30 lakhs or less, the interest rate for the first twelve months has been fixed at 10.50 percent, while for loans greater than or equal to Rs. 30 lakhs and less than or equal to Rs. 7.5 lakhs, the interest rate is fixed at 11.00 percent. For loans of amount more than Rs. 7.5 lakhs, the rate is 11.5 percent.


ICICI Bank Cards


As previously mentioned, ICICI Bank India Ltd has been the largest credit card provider in India. The bank provides different types of cards including


  1. Consumer Cards

  2. Travel Cards

  3. Corporate Cards

  4. Debit Cards

  5. Prepaid Cards

  6. Business Cards

  7. Purchase Cards

  8. Merchant Services.


It has got tie-ups with many of the major retail sectors and malls, and they’re currently offering 5% cash-back on purchases made through ICICI debit and credit cards in selected outlets and malls such as E-zone, Pantaloons, Tata Chroma electronic store, and the likes of them.


To have a premium savings account with ICICI, you need to maintain an average quarterly balance of Rs. 2 lakhs; in turn, you’d get a dedicated relationship manager who’d assist you in tax planning, making investment, and you’re also offered door-step banking, just like they do in HDFC and Axis Bank.


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