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Open an NRI Account online today. Provide your contact details and get a call back at time convenient to you.

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Rates & Charges
Rates & Charges
 
Savings Account
NRE Savings 4.00% Apply Now
 
Fixed Deposit & RD
NRE FD
(390 days to 2 years)
7.50% Apply Now

More Rates       Service Charges 

Offer Zone Get In Touch

NRO (Non–Resident Ordinary) Savings Account*

Key Highlights

  • Park your rupee funds gathered from earnings in India.
  • Free* money transfers at competitive exchange rates.
  • Add Indian resident as a joint holder to operate your account.
  • Free mandate card & cheque book for your family in India, giving them anytime, anywhere access to your account.
*Conditions apply. Subject to levy of applicable service tax.

 

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What is an NRO Saving Account?

  • An NRO (Non-Resident Ordinary) savings account is where you can maintain and manage your income earned in India such as rent, dividends, pension etc.

Why choose an NRO Saving Account?

  • Be assured of efficient managing of your local rupee earnings in India, even as you live abroad. Easy redesignation of your account when you change status from resident to non-resident.

Overview

Features and Benefits

  • Higher yield post tax: By availing DTAA benefit facility.
  • Low cost and Hassle-free money transfers: Available through various online and offline modes at competitive exchange rates
  • Low balance required: Minimum monthly account balance as low as ₹ 10,000 only
  • Anytime, anywhere account access: With domestic ATM-cum-Debit card, convenient access at over 11,000 ATMs and over 3,000 branches all over India, and phone and 24x7 internet banking.
  • Beneficial interest rates: Interest rate calculated on daily closing balances at 4% per annum. Interest paid half-yearly in June and December.
  • Easy movement: Interest earned in current financial year is fully repatriable(after deducting tax). Funds in NRO account can be repatriated upto USD one million per financial year# for all bonafide purposes.
  • Money2India: Safe and simple online money transfer tracking service with online transfer to over 100 banks in India.
  • Joint holding: With an Indian resident or NRI.
  • Easy redesignation: Of your resident account to NRO Account when you become a NRI. Your account number remains the same.
  • Mandate benefits: Free cheque book and ATM card for mandate holder.
  • NRI Advantage: Handpicked exclusive offers catering to your needs when in India as well as when abroad. Know more.
  • FREE PO Box service to send your documents.
  • Double Taxation Avoidance Agreement (DTAA)
  • Earn higher post tax return through reduced TDS rates by applying for DTAA facility on your NRO Savings account.
  • You can avail DTAA benefit on your NRO accounts by providing a self-declaration in the prescribed format, self attested PAN card copy, Form 10F and tax residency certificate for the current year.

 

Click here for the list of documents. The documents would need to be submitted every year to continue to avail DTAA benefit.

 

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

*Subject to nominal foreign currency conversion charges.

#Subject to submission of an undertaking & CA certificate in the prescribed format.

Service Charges

Monthly Average Balance

  • You need to maintain a monthly average balance of INR 10,000 at account level or INR 25,000 at Customer ID level.
  • If you are unable to maintain this minimum Monthly average balance at Savings account level, service charges will be levied. Click here  for the complete list of service charges.

 

Customer ID level: Monthly average balance in NRE Savings / Non interest bearing account + Monthly average balance in NRO Savings / Non interest bearing account + Month end balance in Fixed deposit/s and Recurring deposit/s within the same customer ID.

Documents Required

Other documents NRIs


When you submit application for account opening at ICICI Bank branch in India or overseas, you will need:

 

  • Self attested photocopies of:
    • Passport: First and last four pages of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph and signature).
    • Valid work permit/employment visa/Residence Visa/Residence Permit.
  •  
  • Address proofs: View complete list of Indian and overseas address proofs here.

When you submit application for account opening from outside India, you will need:

  • Photocopies of the following documents which have been self-attested by the document holder as well as duly attested by a Banker / Notary / Embassy official / Consulate Official:
    • Passport: First and last four pages of the passport of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph and signature).
    • Valid work permit/employment visa/Residence Visa/Residence Permit.
  •  
  • Address proofs: View complete list of Indian and overseas address proofs here.
  • Additionally, funding from customer’s self KYC complied account through cheque, DD, inward remittance (wire, vostro, M2I) is mandatory. In case of cheque, ensure that signature on cheque and application form match. In case of DD, customer’s name should be mentioned as purchaser in the DD advice. In case of Inward remittance, customer’s name and country mentioned in the SWIFT message should match with name and country of residence as per Account opening form.

 

Other documents PIOs


When you submit application for account opening at ICICI Bank branch in India or overseas, you will need:

  • Self attested photocopies of:
    • Passport: First and last four pages of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph and signature).
    • PIO card or past Indian passport of self/parent/grandparent along with a self-declaration about Indian origin OR self-declaration for PIO as given on the relationship form.
    • Valid work permit/employment visa if residence country is different from Passport issuing country. If your visa has expired, acknowledged renewal requests made to the visa authorities will be accepted.
  • Address proofs: View complete list of Indian and overseas address proofs here.

When you submit application for account opening from outside India, you will need:

  • Photocopies of the following documents which have been self-attested by the document holder as well as duly attested by a Banker / Notary / Embassy official / Consulate Official:
    • Passport: First and last four pages of the passport of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph and signature).
    • PIO card or past Indian passport of self/parent/grandparent along with a self-declaration about Indian origin OR self-declaration for PIO as given on the relationship form.
    • Valid work permit/employment visa if residence country is different from Passport issuing country. If your visa has expired, acknowledged renewal requests made to the visa authorities will be accepted.
  • Address proofs: View complete list of Indian and overseas address proofs here.
  • Additionally, funding from customer’s self KYC complied account through cheque, DD, inward remittance (wire, vostro, M2I) is mandatory. In case of cheque, ensure that signature on cheque and application form match. In case of DD, customer’s name should be mentioned as purchaser in the DD advice. In case of Inward remittance, customer’s name and country mentioned in the SWIFT message should match with name and country of residence as per Account opening form.

 

Other documents Students


When you submit application for account opening at ICICI Bank branch in India or overseas, you will need:

  • Self attested photocopies of:
    • Passport: First and last four pages of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph and signature). The signature should be clearly visible and match the signature on your registration form.
    • Valid student visa / I-20 form (applicable only for non-face to face US customers). In case a student holds a regular visa then copy of admission letter / identity card from the university to be obtained to confirm student status.
  •  
  • Address proofs: View complete list of permanent address proofs here.

When you submit application for account opening from outside India, you will need:

 

  • Photocopies of the following documents which have been self-attested by the document holder as well as duly attested by a Banker / Notary / Embassy official / Consulate Official:
    • Passport: First and last four pages of the passport of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph and signature).
    • Valid student visa / I-20 form (applicable only for non-face to face US customers). In case a student holds a regular visa then copy of admission letter / identity card from the university to be obtained to confirm student status.
  •  
  • Address proofs: View complete list of Indian and overseas address proofs here.
  • Additionally, funding from customer’s self KYC complied account through cheque, DD, inward remittance (wire, vostro, M2I) is mandatory. In case of cheque, ensure that signature on cheque and application form match. In case of DD, customer’s name should be mentioned as purchaser in the DD advice. In case of Inward remittance, customer’s name and country mentioned in the SWIFT message should match with name and country of residence as per Account opening form.

 

Other documents Seafarers


Following KYC documents should be collected for opening seafarer accounts:

  • Self attested copy of valid passport (First and last four pages of the passport (pages with your name, address, date of birth, date and place of issue, expiry date, photograph and signature). Photocopy must include first four pages of passport and the pages indicating last date of arrival in India. The signature should be clearly visible and match the signature on your registration form)
  • Self attested copy of valid visa (first two pages and last two pages of the passport as well as the page indicating the last date of arrival in India) OR continuous discharge certificate (CDC). Certificate must indicate last date of arrival in India or declaration by ICICI employee (during branch visit) confirming that you are sailing for the first time.

    Incase of employees on Oil Rigs, instead of a visa, a letter from government authority stating” allowed to entry country “ or a business Visa along with a valid appointment letter is taken.
  • Seafarer’s declaration from the customer . No separate declaration will be required if the declaration is part of the AOF
  • A) For a permanent employee then in addition to the above the:
    1. Initial work contract and
    2. Last wage slip (should not be more than six months old).
      or
  •  
  • B) If the customer is a contract employee, then the following documents are also required:
    • i. Valid CDC is a mandatory document along with the last page of the disembarkation stamp
    • ii. Valid work contract with the last page of the wage slip or
    • iii. The expired/last contract letter, if the disembarkation stamp on CDC is not more than 6 months old
      or
  • C) For oil rigs,
    • i. An expired contact letter can be accepted if the last disembarkation stamp on the passport from the country where the oil rig is situated is not more than six months old.

Note- All KYC Documents provided need to be self attested

Other documents DTAA