ICICI Bank launches 'Easy NRI Account'
September 30, 2014
Dubai: ICICI Bank, India's largest private sector bank, announced the launch of 'Easy NRI Account', a savings bank account specially designed to ensure convenient banking for NRIs (Non Resident Indians) located in the Middle East.
The 'Easy NRI Account' has been created with the objective of simplifying regular banking activities along with facilitating remittances for customers. This account offers a low monthly average balance requirement of just Rs. 2,000.
In addition, the account offers a unique feature of nil charges for non-maintenance of minimum balance, as long as the customer has remitted a sum of Rs. 20,000 to ICICI Bank India Easy NRI Account over the preceding three months. This ensures that customers can use the account for remittances without worrying about minimum balance maintenance.
The Easy NRI Account has a special provision for customers who are more comfortable monitoring their account activity using a passbook. The Easy NRI Account holder or mandate holder for this account is issued a passbook which can be updated by simply visiting any of ICICI Bank’s over 3,600 branches in India.
Recurring deposits starting from as low as Rs.500 have also been enabled, encouraging NRI customers to save easily and automatically.
Mr. Rajiv Sabharwal, Executive Director, ICICI Bank, said, “At ICICI Bank, we strive towards designing products that meet customer needs. Our experience of serving 1.5 million NRI customers for over a decade has helped us gain valuable insights into their lives. These insights have led to the development of the 'Easy NRI Account'. We are confident that this product will enable our customers to carry out their day-to-day banking transactions as well as remittances in a simple and hassle free manner.”
About ICICI Bank Ltd: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank with consolidated total assets of US $ 124.5 billion at June 30, 2014. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 18 countries, including India.
About ICICI Bank NRI Services: ICICI Bank is one of the most preferred banks for NRIs in the world. It reaches out to NRIs in over 150 countries. Serving more than 1.5 million NRIs over the last decade, it continues to be the trusted choice of Indians abroad. The bank with its rich experience and expertise deploys technology to deliver the best in banking experience to its NRI customers. The bank offers solutions to NRI customers with a focus on:
- Comprehensive product suite addressing specific financial needs of the NRI
- Round the clock availability through various channels to ensure convenience for the NRI
- Usage of cutting edge technology to deliver efficiency & ease
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