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Most escrow accounts managed by commercial banking centers are similar to other deposit accounts the institution offers. An escrow account may be a transaction between two outside parties, such as a rental deposit, or it may be an impound account attached to a mortgage loan. How does the bank profit off of escrow accounts? - Investopedia investopedia.com ? ask ? answers ? how-do... investopedia.com ? ask ? answers ? how-do...
Typically, the escrow account is most often opened by the seller's real estate agent, but escrow may be opened by anyone involved in the transaction.
For home buyers and sellers, a real estate agent will typically open an escrow account on your behalf. However, if you need to open one, you simply need to contact a bank and ask to open an escrow account.
At ICICI Bank, we cater to a wide range of escrow transactions. Some of the benefits of opening Escrow Account with ICICI Bank are listed below: Quick TAT in closure of agreements. Instant account number generation and easy account opening. Escrow Account Services - ICICI Bank icicibank.com ? current-account ? escrow-ac... icicibank.com ? current-account ? escrow-ac...