You may have a few reasons why your NPS account has been frozen, and you’d like to know how to unfreeze it. If you have not met the minimum contribution requirements, it’s most likely because you have not updated your personal information in the past three years. In such a case, it’s important to contact the CRA as soon as possible to find out how to unfreeze your account. The main reason for account freezing is failure to meet the minimum contribution requirements. The CRA will send you a notification via registered channels.
ICICI Bank retains the right to upgrade a limited account to a full savings account
If a KYC application is rejected, ICICI Bank reserves the right to upgrade your limited account to a full savings or current accounts. Some of the reasons for this are non-maintenance of ATM/Debit card, annual fees, and/or interchange charges. If your account is closed due to a KYC rejection, you will be informed in writing.
If your KYC submission is rejected for any reason, ICICI Bank may contact you for a physical verification process. If your documents are not valid or incomplete, ICICI Bank may reject your Online Application Form without further notice. If the Customer is unable to pay the fees and is not able to meet the eligibility criteria, ICICI Bank may contact you to verify the details.
ICICI Bank may share information about its Visitors with its affiliates, group companies, governmental agencies, and third parties for risk management, credit scoring, and statistical analysis. These third parties will only use this information for these purposes and will not be held responsible for its use. The information they receive is used to improve their service and protect the bank and its affiliates.
ICICI Bank may keep records of transactions, access, and other information about a customer’s finances. These records may be stored on computer systems, tapes, or other recording devices and shall be admissible as evidence. The Registered User may not challenge the validity of these records. They are final and binding in all ways.
If your application is rejected, ICICI Bank will refund the funds you’ve deposited into an Online Savings Account. You may have to wait six or eight days for the refund to process. You may incur a payment gateway or transactional charge in this process. However, if you’ve deposited funds using a debit card, the ICICI Bank retains the right to upgrade your limited account to a full savings account because of a rejection of your KYC.
ICICI Bank respects the privacy of its Visitors. Your personal information is confidential, and ICICI Bank shall not be held liable for any unauthorized disclosure of this information. Information provided by the Customer will be encrypted using 128-bit encryption, the highest level permitted in India. If your information is not encrypted, you will receive a suitable message.
You can opt to de-link your default mapping through a third party service such as PhonePe. By using this service, you will be able to receive funds from other PhonePe users. If you don’t want to share your default mapping, you can delink it with the other user’s phone number. The funds will then be sent to your default bank account.
