With its headquarters in Vadodara, ICICI Bank is a global bank and provider of financial services in India. It is one of the leading banks in the country and has about 5300 branches throughout the country that have their own unique ICICI IFSC codes. The code serves as an identifier, and to perform any transactions, the sender must check IFSC code to reach the right bank they are sending the money.
ICICI Bank: History
On January 5, 1955, the Industrial Credit and Investment Corporation of India (ICICI) emerged. The organisation chose Sir Arcot Ramasamy Mudaliar as its first chairman. It aimed to support the Indian industry. Before changing its name to ICICI Bank, they referred to it as the Industrial Credit and Investment Corporation of India Bank.
Later, the parent firm went through a merger with the bank. Through various delivery channels and specialist subsidiaries in investment banking, venture capital, asset management, life insurance, and non-life insurance, it provides its customers with various banking services and financial products.
The prominent services of the bank include —
- Online Money Transfers
- Debit Cards
- Current Accounts
- Monitoring Services
- Credit Cards
- Time Deposits
- Prepaid Cards
- Savings Accounts
- Automated Lockers
- Recurring Deposits
- Digital Wallets (known As ICICI Pocket)
To deliver online services, including fast auto loans, digital accounts, insurance, investments, and loans, ICICI bank built a platform called “ICICIStack.”
IFSC codes for ICICI banks
Let’s examine what the IFSC is. “Indian Financial System Code” is what IFSC stands for. It provides each bank branch with its unique alphanumeric code. IFSC is a unique identifying code that all banks need for all bank-to-bank money transfers.
For example, the eleven-character ICICI IFSC code “ICIC0003518″ comprises the first four letters ” ICIC”, the fifth number is “0,” and the final six digits, which stand for the particular ICICI Bank branch code. Here’s an illustration: ICIC0003518 is the ICICI IFSC codes for the branch located at Azad Nagar, Kanpur. The branch code, in this case, is 003518.
IFSC Code Lookup for ICICI Bank
The two simple and quick methods to check IFSC code of your bank include looking for them in your chequebook or on the first page of your passbook.
Another way to check IFSC code is to go on google and search for the ICICI IFSC code using the branch’s address.
Importance of the IFSC code
Each and every type of money transfer, including RTGS, NEFT, and IMPS, requires an IFSC code. If you do not have an IFSC code, you cannot complete any money transfer. Before starting a transfer, you must have the recipient’s information, and the most important is the branch IFSC code. Furthermore, additional information needed for Fund Transfers Using Any Payment Method includes:
- The amount you need to send
- Account number at the bank
- Name of the receiving bank
- Beneficiary’s Name
- Account information for the recipient
Opening an ICICI Bank Account: Steps
People can open a variety of bank accounts for both personal and business use to conduct transactions, save money, receive interest on deposits, and obtain financial security. Customers must satisfy the requirements below to create an account at ICICI Bank.
- One must be an Indian national.
- The applicant must be at least 18 years old to be eligible.
- When a person is a juvenile, their parents or legal guardians can operate an account on their behalf.
- The applicant must possess a legitimate government-approved identity and residence proof.
In addition to the abovementioned requirements and bank approval, the applicant must put a minimum amount in the account. This depends upon the account types, which have varying minimum balance requirements.
The following papers are needed to create an account:
- Aadhaar cards, passports, driver’s licences, voter identification cards
- PAN cards, Form 16 are acceptable forms of identification and proof of address (only if you do not have a PAN card)
- Recently taken passport-size photos
The ICICI IFSC Code is one of the best service providers in the country, and operating an account with them is very smooth and hassle-free. In addition, the bank provides excellent online and offline services.