Is ICICI bank safe?

  • Asked By
  • Updated On:
  • Replies:

Short Answer

ICICI bank is a safe choice to keep our money because the bank is in the hands of strong management. Additionally, when compared to earlier quarters, the bank delivered better results and showed improvement in factors like the Capital Adequacy Ratio (CAR) and NPA ratio.

Detailed Answer

It has become crucial to understand whether or not your bank is secure in the face of cyber fraud and banking scams. Are you are considering opening a bank account with ICICI Bank? Do you already have an ICICI bank account and want to know if it is secure? Don't worry, today we will discuss and will see whether ICICI Bank is safe or not.

Is ICICI bank safe?

ICICI Bank is an Indian private bank . It offers a wide range of banking and financial services, including deposits, loans, cards, investments, insurance, demat, NRI services online, etc.

In addition to having a nationwide network of 5,275 branches and 15,589 ATMs, it is also present in 17 other nations. This demonstrates the bank's strong management and considerable potential.

Therefore, in terms of management and services ICICI bank is indeed a safe bank.

To further clarify, let's look at some technical aspects also.

1. NPA ratio :

The proportion of advances or loans that are in default or arrears are represented by the NPA ratio. The NPA ratio ought to be at a minimum (less than 3%). ICICI bank has -

  • Gross NPA ratio - 3.41 %
  • Net NPA ratio - 0.70 %, which is less than the previous quarters.

2. Capital Adequacy Ratio(CAR):

The CAR evaluates a bank's capital position in relation to the risks involved in loan disbursement. CAR should be high because it ensures banks have sufficient room to absorb reasonable losses.. ICICI bank has -

  • Capital Adequacy Ratio -17.95% % (Tire- I) compared to the minimum regulatory requirements of 9.70% , which is a quite good.

3. Under Bank Nifty:

ICICI bank is the second largest bank listed under Bank Nifty in terms of market capitalization.

ICICI bank safety and security features

The well-managed ICICI bank has a substantial network throughout India and abroad. Although the bank has been able to keep the minimal requirement to enter the safe zone. As a result, ICICI Bank is unquestionably a secure option for keeping our money.

**Do you have any other financial query? Sign in and ask FREE queries and get quick answers from our FINTRAKK community!


Tagged With: icici bankbankindian bankssafe bankbank account
Categories: Finance
Ask Your Query for FREE, Get quick answers from our FINTRAKK community!
Discussion (0)
Related FAQs
Which bank is safest in India? Are private banks safe or public banks?

You can choose any bank in India to open an account in, be it a private-sector bank or a public-sector bank. By the market share SBI, HDFC, and ICICI Bank are the three top banks that can be considered when looking at the largest banks in India.

How to close ICICI bank account ?

Do you have any thoughts of closing your ICICI Bank account? The procedure for cancelling a bank account might be a little difficult, whether you're shifting or changing to a new bank. To make the process of closing an ICICI Bank account as easy as possible by guiding you through it.

What are types of bank accounts in India?

There are mainly 5 types of bank accounts in India. These include Savings account, Current account ,Fixed deposit account, Recurring deposit account and NRI accounts.

How to close an ICICI Direct Demat account? Is the account closed online or offline?

In order to close your Demat account with ICICI direct, you are required to download its closure form available online: and submit it in an ICICI bank branch that has a Demat services desk.

How many Bank accounts can you have in India?

Currently, an eligible person can have as many bank accounts as he or she wants. There could be multiple accounts with the same bank or separate accounts with different banks.

Is HDFC bank safe?

HDFC bank is undoubtedly a safe bank in India. The bank is India's largest private bank in terms of market capitalization and has also been ranked India's No. 1 bank in Forbes' World's Best Bank Report.

What is PPF or Public Provident Fund in India?

Public Provident Fund Scheme is a saving scheme that comes with tax benefits. Ministry of Finance introduced this scheme in the year 1968. The main objective of PPF is to encourage general people to mobilize their small savings. The interest offered on these schemes are not taxable. Precisely, PPF is an investment with non-taxable returns.

How can NRIs from the United States invest in Mutual Funds in India?

NRIs living in the United States can invest in Indian Mutual Funds, but there are some hassles that have to be overcome. You will require an NRE, NRO, or FCRN account in order to convert the foreign currency into Indian rupees, post which you can complete the KYC and begin investing in Indian Mutual Funds.

Can an Indian open account with foreign stock broker ?

Opening an account with a foreign stock broker can be a great way for Indian investors to diversify their portfolio and gain access to a wider range of investment opportunities. However,there are a few things to consider before opening an account with a foreign stock broker.

How to close an Indian Bank Account online? What all factors are important while closing the Indian bank account?

Indian Bank account cannot be closed in online mode. However, you can close it by submitting the account closure form in offline mode to your Indian Bank branch.