Through iMobile application, the ICICI Bank Mine offers investment guidance to suit the millennial’s demand


ICICI Bank Corporate Office in Bandra Kurla Complex, Mumbai in the Indian state of Maharashtra. (Credit: Sumedh~commonswiki)

Lending major ICICI Bank has launched what it claims to be India’s first comprehensive banking programme, named ICICI Bank Mine, for millennial customers.

For millennial customers aged between 18 years to 35 years, the ICICI Bank Mine offers millennial an instant savings account allowing then to open online and start transacting immediately.

Effective from 06 November 2020, the ICICI Bank Mine allows millennial-aged up to 35 years to apply digitally for the account through the bank’s website or the app.

Through a complete user experience focused iMobile application, the full banking stack offers investment guidance to suit the millennial’s demand, curated credit and debit card, and instant personal loans & overdrafts.

ICICI Bank executive director Anup Bagchi said that the company’s extensive research revealed that millennial customers prefer banking to be simple, digitally enabled and customised.

Bagchi added: “Based on these insights, we have created ‘ICICI Bank Mine’, the country’s first full banking stack for millennials. It offers a mobile first, highly personalised and experiential led banking experience to them.

“ICICI Bank Mine’ also offers investment guidance to customers through a completely user experience focused iMobile application. For this, we have integrated the investment platform of Sqrrl, a leading fintech in the investment space, with our mobile application iMobile, to guide customers to invest easily and in a tech-savvy way.”

In addition to offering instant savings account opening and iMobile mobile banking app, the ICICI Bank Mine’s other key offerings include new credit card with curated features; and instant personal loan and overdraft facility.

In October, ICICI Bank introduced a debit card facility for customers availing the bank’s Loan Against Securities (LAS).