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FCNR Fixed Account |
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Frequently Asked Questions
1. Who is an NRI?
2. Who is a PIO?
3. How can I open an FCNR Fixed Deposit?
4. What are the documents that I have to submit to open an FCNR Fixed Deposit?
5. Are they taxable in India?
6. What is the tenure for which I can open an FCNR Deposit?
7. Can I close my FCNR Deposits prematurely?
8. Can I have a Nominee for my FCNR Deposits?
9. Can I have a joint account holder for this account?
10. What will happen to my deposits once it matures and I forget about it?
11. Can I get loans against my FCNR Deposits?
12. Will I get a Cheque Book and an ATM-cum-Debit Card when I open an FCNR Deposit?
13. Can I appoint a mandate holder for my FCNR Deposits accounts?
14. How can I renew my FD?
15. How can I update my Signature on my account?
16. How can I register a nominee on my account ?
17.How can I cancel a nominee in my account ?
18.How can I update a new nominee on my account ?
19.How can I declare for “No nominee” on my account ?
20.How can I update my E-mail ID & Contact number ?
21.How do I register for E-statement facility on my account?
22. How can I request for closure of Fixed Deposits?
23.How can I repatriate funds?
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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 Account?
You can open an FCNR Fixed 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.
NRI Services Centre (CPC NRI),
ICICI Bank Limited
Ground Floor, Empire Complex,
414 - Senapati Bapat Marg,
Lower Parel, Mumbai - 400 013,
INDIA.
Incase of further queries, please contact us through 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 FCNR Fixed Deposit?
Please click here to know the documentation requirements for opening an FCNR Fixed Deposit.
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Are they taxable in India?
No, FCNR deposits are not taxable in India. |
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What is the tenure for which I can open a FCNR Deposit?
You can maintain an FCNR deposit for a tenure ranging from 12 months to 60 months.
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Can I close my FCNR Deposits prematurely?
You can close your FCNR Deposits before the due date. No
interest payable if the deposit is withdrawn before the
completion of one year. If the deposit is withdrawn after
completion of 1 year, there will be 1% charge on the rate
applicable for the period for which the deposit was kept or the contracted rate, whichever is lower.
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Can I have a nominee for my FCNR Deposits?
Yes, you can register your nomination with this account. |
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Can I have a joint account holder for this account?
Yes, you hold the account jointly with other Non-Resident Indian(s).
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What will happen to my deposit once it matures and I forget about it?
We will automatically renew the fixed deposits and it will keep earning you attractive interest rates. However, if you open the account under non-auto renewal mode, you must give us written maturity instructions.
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Can I get loans against my FCNR Deposits?
The amount of loan that can be sanctioned would depend on
the currency and tenure of the FCNR, please refer table below
for details:
| Deposit Tenure |
USD |
GBP |
EUR
/ CAD / GBP |
| <= 1 year |
85% |
80% |
70% |
| > 1 year and <= 2 years |
85% |
75% |
65% |
| > 2 years and <= 3 years |
80% |
70% |
60% |
| > 3 years and <=5 years |
75% |
70% |
60% |
| > 5 years and <=10 years |
NA |
NA |
NA |
The maximum loan permitted is Rs. 20 Lacs. |
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Will I get a cheque book and an ATM-cum-debit card when I open an FCNR deposit?
No, you will not get a cheque book or an ATM-cum-debit card with your FCNR Deposit.
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Can I appoint a mandate holder for my FCNR deposits?
No, a mandate holder can be appointed only for operating savings account.
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How can I renew my FD?
You can request for FD Renewal by by applying online through "Service Request" option available in your Internet Banking.
Alternatively, you can click here to download the request form and mail it to our India address:
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the 'Renewal of Term Deposit' Request form.To refer to the updated list of our branches please,Click here
In caseof further queries, please write through Email us or call our 24-hour Phone Banking Services
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How can I update my Signature on my account?
You can request for a Signature Updation by downloading the 'Signature Change' request form, and send the completed form alongwith relevant documents to our India address :
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA
Click here to download the 'Signature Change' request form.
Also attach any one of the following as proof of your changed signature:
- Any government issued photo identity document having a seal / stamp of government authority as a proof of current signature on the form.
- New signature attested by another Banker / Indian Embassy / Notary.
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the ' Signature Change Form'.To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How can I register a nominee on my account ?
To register a Nominee, Click here to download the 'Add a Nominee- DA1 form' ', fill it up and mail to our India address :
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA.
Please Note that :
- The nomination form has to be signed by all the account holders and witnessed simultaneously. A witness for the nomination form is mandatory. He / she can be any person known to the account holder as well as the nominee.
- The signature of the nominee is not required on the nomination form. One witness (known to the account holder as well as the nominee) is required to attest thumb impression(s) / sign on the form.
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the 'DA1 Form'.To refer to the updated list of our branches please, Click here
If you still do not wish to register a nominee, please send us a letter cum 'No Nominee declaration'.
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How can I cancel a nominee in my account ?
You can download the ' Nominee Cancellation- DA2 form' request and mail it to our India address :
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA.
Click here to download the 'Cancel Nomination in my account – DA2 form'.
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the Cancel Nomination in my account – DA2 form'.To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How can I update a new nominee on my account ?
You can download the 'Nominee Updation- DA3 form' request form and mail it to our India address :
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA.
Click here to download the 'Update new Nominee – DA3' form.
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the 'Update new Nominee – DA3' form.To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How can I declare for “No nominee” on my account ?
You can download the 'No Nominee Declaration' , and mail it to our India address :
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA.
Click Here to download the ''No Nominee Declaration' .
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the 'No Nominee Declaration - D1 '.To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How can I update my E-mail ID & Contact number ?
You can login to Internet Banking and update your Email Id/ Contact Number through “Update my E mail ID” /”Update my contact number“ options available Online
You can also make the request for 'E-mail ID and Tel No. Updation' by contacting our 24-hour Customer Care
Alternatively, you can click here to download the request form and mail it to our India address:
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the request letter.To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How do I register for E-statement facility on my account?
You can register for E-statement facility by applying Online through an option available through Internet Banking.
Alternatively, you can click here to download the 'Registration Form' and mail it to our India address:
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the registration form.To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How can I request for closure of Fixed Deposits?
You can request for a Closure of Deposits by applying Online through "Service Request" option available in your Internet Banking.
Alternatively, you can click here to download the request form and mail it to our India address:
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA.
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the 'Account Closure' Request.To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
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How can I repatriate funds?
You can repatriate funds in two ways:
- Demand Draft
- Wire Transfer
You can place a request for Repatriation from fixed deposit through any of the following modes:
- You can request for “Repatriation of Funds” by applying Online through "Service Request" option available in your Internet Banking.
- Alternatively, you can click here to download the request form for 'Outward Repatriation of Funds' and mail it to our India address:
ICICI Bank Limited,
RPC Mumbai,
5th Floor, A-Wing, Autumn Estates
Chandivali Farm Road, Chandivali
Land Mark:Next to Chandivali Studio, Opp MHADA
Andheri-East,
Mumbai- 400072
INDIA.
If you are an NRI in USA, UK, Canada, Australia, Singapore and UAE, you can simply post your documents to the local P.O. Box in your respective countries and save on courier charges. Click here to learn more about the P.O. Box Service.
You can also visit any ICICI Bank branch in India and submit the request. To refer to the updated list of our branches please, Click here
For any clarification or more information, please call us on our 24-hour Customer Care or write to us through "Email us" option, at our website www.icicibank.com.
* Repatriation of funds will be subject to regulations of relevant jurisdiction as existing from time to time.
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