1. Does that really mean I don't have to keep anything on my a/c?? Does this have any time period for which no money on my a/c will be overlooked??
No money required AT all. Just ensure your account is active - activity includes logging in, transferring / receiving funds, paying bills etc.
2. Then how would I put money to my a/c??
You can transfer from other bank accounts online or you can also opt for a 'pull' facility where you submit an ICICI authorisation form to the other bank from which you need to transfer money to your B2 account. Once that authorisation form is approved, you can login to your B2 account anytime and request for a 'fund transfer' from the other bank account.
3. Does this provide only Internet banking??
YES, 2 phone calls allowed per month for free.
4. Will I get ATM Access(ATM Card)??
NO
5. What about Interests??
Money in excess of 5000 is automatically put into an FD for a 1 year duration. Withdrawals from this amount would give you FD interest rates for the duration that portion of money was in the FD.
Quick example: You have 9000 in your account on July 1. ICICI puts 4000 into an FD automatically for a year. You now withdraw 6000 from your account on October 15, so 5000 from your non-FD portion, and 1000 gets removed from the FD. You get interested for the 5000 at savings bank rates (3.5% per year computed daily), and on the 1000 bucks at FD rates for the duration October 15 to July 1.
Lastly what's their profit?? I mean what ICICI is gaining from this if they really provide us zero balance a/c?? I mean I may not keep any money(never). So how would they income??
You really think ICICI doesn't know their plot well?
With a B2 account, they are doing away with a big maintenance cost that is incurred on regular accounts - serving customers at the bank branch. As also unlimited phone banking calls. These are human intensive tasks and thereby require more money to maintain. Not to mention a certain standard of service. How they gain? The money going into the FD is used by the bank as their investment - they aren't really paying out of their pockets for those FD rates
And the money lying idle in your account in the non-FD section, that gives them a better ROI as they give you a measly 3.5% from probably a double digit return they make investing that amount. Banks earn multiple ways, but that's a long story.