Ice Bank Tank is a refrigeration unit to provide efficient, cheaper and greater cooling effect. It is designed as a large basin of rectangular shape and is widely used in dairies to maintain the quality of milk. This cooling system is basically used as a chiller for the chilling of water at a very low temperature nearly in between 1 to 2 degree Celsius. The chilled water is then used to exchange heat from the milk after passing through the pipes of a heat-exchanger. Ice Bank Tank helps to reduce the electricity bills by using it at night when the cost of electricity generation is less to lower the temperature of water and at daytime the cold water is used for refrigeration purpose.