ICICI Bank MySavings Rewards Program Features

For the first time ever in banking history, ICICI Bank has introduced an exclusive rewards program for savings bank account holders called the MySavings Rewards Program.  This is in collaboration with the Payback Points.  They are planning to reward all the existing and new ICICI Savings Bank Account holders to reward them with the Payback Points for all the general banking transactions as mentioned below via this My Savings Rewards Program.

Transactions to Earn Rewards Points

You will start earning or accumulating the rewards points (Payback Points) when you do any of the below mentioned transaction on your account.

• Activate your internet banking associated with your account


• Do online shopping using your Internet Banking


• Pay your monthly bills via ICICI Internet Banking


• Pay your home loan EMIs via auto debit in your ICICI Savings Account


• Set Auto Debit for Recurring Deposits, car loan, and personal loan from your account


• Activate and shop using the iMobile option


• Activate the iDirect Account


• Add more family members to your family banking


• Just do regular shopping using your ICICI Debit Card

 

Payback Points

All the points that you will earn with this MySavings Rewards Program will be converted into the Payback Points associated with your account.  For this you will need to link your existing Payback Card to your ICICI Bank Savings Account or can also apply for new Payback Card and link it.

 

This is the first of its kind initiative by brining the loyalty points to a regular savings account which used to be a feature available only for the credit card holders and with the introduction of such features the bank customers are just rewarded just for doing their daily or regular banking transactions which is good.  I hope more private banks like HDFC may follow suit soon, hopefully!