NRI Banking: Home >> Bank Accounts >> NRE Savings Account

NRE (Non-Resident External) Savings Account*

NRE Saving Account
Maintain your overseas earnings in India with this savings account – convenience for the global Indian.



What is an NRE Account?

  • An NRE (Non-Resident External) Account is a savings account maintained in ` where you invest your foreign income earned outside India.

Why choose an NRE Account?

  • Enjoy tax-free interest and fully repatriability of funds.

  • This is the most convenient way to use your foreign earnings in India.

Features and Benefits

  • Tax benefits: interest earned not taxable in India.
  • Easy movement of funds: Funds in NRE account are fully & freely repatriable.
  • Low balance required: minimum quarterly account balance as low as ` 15,000 only
  • Anytime, anywhere account access: with international ATM-cum-Debit card, convenient access at over 11,000 ATMs and over 3,500 branches all over India, and 24x7 phone and internet banking.
  • Beneficial interest rates: interest rate calculated on daily closing balances at 4% per annum. Interest paid half–yearly in June and December.
  • Low cost and Hassle-free money transfers**: available through various online and offline modes at competitive exchange rates
  • Money2India: Safe and simple online money transfer tracking service with online transfer to over 100 banks in India.
  • Joint holding: with another NRI.
  • Mandate benefits: free cheque book and ATM card for mandate holder.
  • FREE PO Box service to send your documents.

*Please note that now Non interest bearing NRE accounts are also available under this category.

** Subject to levy of applicable service tax .

Quarterly Average Balance

  • You need to maintain a quarterly average balance of ` 15,000 or a total relationship value (within the same customer identity number) of ` 25,000.
  • If you are unable to maintain this minimum balance, quarterly service charges of ` 750 + service tax will be levied.

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General

Who is an NRI?
Who is a PIO?
What type of bank accounts can be opened by NRIs / PIOs?
 

Account Opening

How can I open an NRE Savings Account?
What are the documents that I have to submit to open a NRE Savings Account?
 

NRE SB

What is the minimum amount with which I can open a NRE Savings Account?
Are my NRE Savings Account funds repatriable?
Is interest earned on NRE Savings Account taxable in India?
Can I open my account with any currency?
Can I have joint holders for my NRE Savings Account?
What is the interest rate payable in NRE savings Account?
 

ATM / Debit Card

How is the Silver debit card different from the ATM card?
Can I shop online using my ICICI Bank NRE Account debit card?
What are the limits on an silver debit card for NRI customers?
What are the charges for the debit card?
How can I get a silver debit card?
Whom do we contact for help on debit card related issues while we are abroad?
Can a joint account holder have a separate debit card?
How can I request for an ATM/ Debit Card and PIN?
How can I request for an ATM/ Debit Card for my Mandate?
Do banks levy any service charge for use of other bank ATMs?
What should be done in case during the cash withdrawal process, cash is not disbursed by ATM but the account gets debited for the amount?
How many days maximum would the bank require to re-credit the account for such wrong debits?
Are customers eligible for compensation for delay beyond 7 working days?
In case the compensation is not credited as mandated, what recourse does the customer have?
 

Money2India

What is Money2India.com?
Benefits of Money2India?
Which countries is the service available in? Which currencies are supported?
 

Account Usage

What is meant by an Inactive / Dormant account?
What are restrictions, when my account becomes Inactive / Dormant?
How do I activate my Inactive / Dormant account?
How can I transfer funds?
What are the service charges for my savings account?
What minimum balance would I be required to maintain in my NRE/NRO account?
How do you calculate QAB?
When will the QAB charges be levied on my account?
What are the documents that can be accepted as source of proof for credit to NRE accounts?
How can I request for a demand draft to be sent to any address in India?
How can I request for an Address Change on my account?
How can I update my Signature on my account?
How can I update my Contact number?
How can I update my E-mail ID ?
How do I register for E-statement facility on my account?
How can I repatriate funds from my NRE/FCNR/RFC account?
What is the limit for making an outward remittance from my NRE account?
I have registered a mandate-holder in my NRE account. Can he make an outward remittance from the account as well?
Can I link all my credit card to Savings account under a single user ID?
Can I link all my loan account to Savings account under a single user ID?
Can I link my all my Saving accounts under a single user ID?
How can I request for reissue of my Internet Banking Password?
How can I activate my disabled internet banking user ID?
I have forgotten/ not received my user ID and Password, how can I obtain them?
How do I add a payee on internet banking to transfer funds

Mobile Banking

How can I register for Mobile Banking facility?

Cheque Book

How can I request for a New Cheque Book?
How can I request for Stop Payment?
 

Mandate Facility

How can I register a mandate on my account?
How can I cancel a mandate from my account?
How can I update new mandate on my account ?
What are the facilities and rights available to the mandate holder?

Nomination Facility

How can I register a nominee on my account?
How can I cancel a nominee in my account?
How can I update a new nominee on my account?
How can I declare for “No nominee” on my account?
Can I nominate more than one person for one account?
Can I register different nominees for different accounts?
If I register a nominee when I open the account, do I have to fill in the nomination every time I make a new deposit?
 

Account Closure

How can I request for closure of my Savings account?
 

DNC

How do I register myself under "Do not call"?
I have already registered under “Do not call”. However, I have been receiving promotional calls/ emails from you?
My country is not reflecting in the drop down menu present on the site. What should I do?
 
 

What can you do next?

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Redesignation: Converting existing resident ICICI Bank savings account into NRO savings account without changing the account number.
Repatriable: Transferable (funds) from India to other countries.
Mandate holder: A resident Indian, who is appointed by an NRI, and has the authority to operate the NRI's account and take care of finances on behalf of the NRI.
Customer identity number: A unique number provided by ICICI Bank to a customer. Please note one or more savings accounts or fixed deposits or other products could be linked to a single customer identity number.
View more will be clickable and lead to existing documents page for NRIs.
View more will be clickable and lead to existing documents page for PIOs.
View more will be clickable and lead to existing documents page for Students.
View more will be clickable and lead to existing documents page for Seafarers.