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ICICI Bank launches 'Smart Star' account

India Blooms News Service | | Sep 25, 2014, at 12:13 am

#ICICI Bank launches 'Smart Star' account

Mumbai, Sept 24 (IBNS): Private sector bank ICICI Bank has announced 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, 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.

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