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Who
is an NRI?
An NRI is an Indian citizen who stays outside India:
(a) for purposes of carrying out employment or any business
or vocation;
(b) under circumstances indicating an intention to stay outside
India for an uncertain
duration;
(c) any Indian citizen deputed outside India for a temporary
period in connection with employment.
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Who
is a PIO?
A citizen of a foreign country (other than a citizen of Bangladesh
or Pakistan) is a PIO if
(a) he/ she at any time held an Indian passport; OR
(b) he/ she or either of his/ her parents or any of his/ her
grandparents was a citizen of
India; OR
(c) spouse (not being a citizen of Bangladesh or Pakistan)
of an Indian citizen or (a)
or (b) above.
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How
can I open an Easy Rupee Account?
You can open an Easy Rupee Account by applying online
or by downloading the account opening form, filling it up
and mailing it with relevant documents to our India address:
ICICI Bank Ltd.
RPC Mumbai,
Autumn Estate,
5th Floor,
'A' Wing,
Near Mhada,
Chandivali, Andheri (E),
Mumbai - 400 072.
INDIA.
Email us
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, now you no longer have to incur expensive courier charges to send us your documents, you can simply post them to the local P.O. Box in your respective countries.
Note: The P.O. Box is a service offered by ICICI Bank India, and any of the overseas branches or Representative Offices are not involved in this service.
Click here
to learn more about the P.O. Box Service
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What are the documents that I have to submit to open an Easy Rupee Account?
Please click here to know the documentation requirements for opening an Easy Rupee Account. |
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What
is the minimum amount with which I can open an Easy Rupee
Account?
The minimum amount for opening an Easy Rupee Account is INR
15,250. |
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Are
my Easy Rupee Account funds repatriable?
Yes, both the principal and interest are repatriable.
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Are
they taxable in India?
No, NRE Savings Accounts are not taxable in India.
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Can I open
my account in any currency?
Yes, you can open your account in any currency. We will
convert your currency into INR and open the Easy Rupee Account.
Your Easy Rupee Account will be maintained in only INR.
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Can
I have joint holders for my Easy Rupee Account?
Yes. You can hold your Easy Rupee Account jointly with
other Non-Resident Indian(s). You can authorise an Indian
resident to operate your account, by submitting a mandate
letter. You can also register nomination for this account.
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What
is the Ncash Debit card and how is it different from an ATM
card?
ICICI Bank's Ncash Debit Card is debit-cum-ATM Card that can
be used for transactions at merchant establishments and to
operate your account at bank ATMs both in India and abroad.
An ATM card can be used only to operate your account at limited
ATMs.
In India, ICICI Bank's Ncash Debit Card is accepted at over
30,000 merchant establishments and 1300 ATMs. Globally ICICI
Bank's Ncash Debit Card is accepted at over 24 million merchant
establishments and 6,00,000 ATMs. |
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What
are the limits on Ncash debit cards for NRI customers?
Cash withdrawal per day of INR 25,000 and transaction worth
INR 25,000 at merchant establishments. |
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What
are the charges for the debit card?
The annual charges on the Debit Card are INR 199 plus applicable taxes. Other charges are as detailed below:
For Cash Withdrawal
- INR 20 (all inclusive) per transaction at partner / non partner bank ATMs in India (with effect from March 27, 2008)
- INR 108 per transaction at ATMs overseas
For Balance Enquiry
- Nil for balance enquiry at partner / non partner bank ATMs in India
- INR 25 per transaction at ATMs overseas
For purchases and ATM transactions outside India there is a 3.5% currency
conversion charge, at all VISA enabled POS and ATM machines.
Service Tax (currently 12.36%) on these charges will continue to be extra.
Click here to see the entire list of partner banks.
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How do I get
an Ncash debit card?
All Easy Rupee Account holders get an Ncash
debit card. If you are not an ICICI Bank customer, you can
open a savings account and get an Ncash debit card. |
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Whom
do we contact for help on debit card related issues while
we are abroad?
You can contact Visa Global Customer Assistance Service
Toll-Free Number: 1800-345 1345
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Can
a joint account holder have a separate debit card?
Yes, a joint account holder can definitely be issued a separate
debit card.
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Questions on Inactive / Dormant Accounts
a. What is meant by an Inactive / Dormant account?
Inactive Account Definition: If there are no transactions in your savings account for more than 15 months, the account will be classified as "Inactive".
Dormant Account Definition: If there are no transactions in your savings account for more than 18 months, the account will be classified as "Dormant".
This is a measure to safeguard your interest, as it is possible that you may not be monitoring your account. A letter to this effect would be sent to your communication address.
b. What are restrictions, when my account becomes Inactive / Dormant?
Inactive Account restriction: You cannot request for issue of chequebook incase your account is inactive.
Dormant Account restrictions: The following requests are not permitted in a dormant account:
- Requests for issue of chequebook
- Renewal of ATM/ Debit Card
- Requests for change of address, addition or deletion of joint holder, signature modification
- Withdrawal through ATM, Internet Banking, Branch etc
c. How do I activate my Inactive / Dormant account?
Inactive Account Activation:
In order to make your account active (from inactive stage)
please conduct a transaction by cheque, ATM or by infinity,
else visit the nearest ICICI Bank branch in India and submit
an account-activation letter.
Dormant Account Activation: In order to normalize your account (from dormant stage), you may use any one of the following channels:
- Send an account-activation request to ICICI Bank Limited, RPC Mumbai, Autumn Estate, 5th Floor, 'A' Wing, Near Mhada, Chandivali, Andheri (E), Mumbai - 400 072. INDIA
- Write to us by logging in www.icicibank.com and placing the request through "Service Request" option available in your Internet Banking
- Call us on +91 40 23128925, if you are currently residing abroad or in India
- Toll Free Number:
US/Canada: 1 866 ICICI 4 U;
Singapore: 800 ICICI 4 U;
UK: 0 8081 314 151;
India: 1800 22 4848
- Visit the nearest ICICI Bank Branch in India and submit an account-activation letter
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How can
I transfer funds from my NRO / Easy Rupee Account to
Another account in ICICI BANK (own)
Another account in ICICI BANK (third party)
An account in another bank?
To transfer funds from your NRO / Easy
Rupee Account to any account, you can use ICICI Bank’s
Internet banking facility. Log on to your online account
and click to the ‘e-cheques’ section and follow
the instructions provided there. |
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What are the service charges for my savings account?
Click
here to view service charges for NRE Savings Account.
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What minimum balance would I be required to maintain in my NRE/NRO account?
The minimum quarterly average balance (QAB) required to be maintained is INR 15000 at an account level OR INR 25000 at a cust ID level of that account.
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How do you calculate QAB?
QAB is the sum of the daily balances of your account divided by 90 (or days in the quarter)
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When will the QAB charges be levied on my account?
QAB charges, if applicable, will normally be levied on your account in the subsequent 15 days of the quarter end.
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What are the annual charges on the Debit Card?
The annual charges on the Debit Card are INR 199 plus applicable taxes.
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What are the documents that can be accepted as source of proof for credit to NRE accounts?
The
documents/instruments that can be accepted as source of proof
for credit to NRE accounts are:
1) Foreign
currency demand drafts representing funds from
overseas/FCNR/NRE sources
2) ICICI Bank NRE account
cheques
3) Cheques / pay orders / demand drafts with
specific evidence/certificate/advice that the funds are from
foreign source or
repatriable in nature:
a) Cheque issued from another
NRE account (with suitable crossing or account number and
account type printed on the
cheque)
b) Closure proceeds of FCNR deposits (The issuing
banks should advise that the funds are repatriable in
nature)
c) Foreign inward remittances (The issuing banks
should advise that the funds are repatriable in nature)
d)
Closure proceeds of OBU deposits (The issuing banks should
advise that the funds are repatriable in nature).
4)
An IPO refund order accompanied by a letter/advice from the
registrar stating that the investment was from a
repatriable source.
5) A letter
from the registrar/bank for receipt of refund of amount from
application for shares if the amount of
subscription was paid from the NRE
account.
6) A letter from any bank or recognized mutual
fund house stating that the funds were invested from the
source of NRE funds.
7) Funds
received through EFT credit with specific mention of NRE funds
transfer.
8) To deposit foreign currency cash / traveller's
cheques to an NRE / FCNR (B) account, the NRI needs to visit
the branch and submit a copy of
his/her passport and immigration details (original passport to
be carried in person). A currency
declaration form, if applicable, will also be required.
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