Apply Online 
RBI Mandate – Simultaneous holding of Resident and Non-Resident Account(s) is not permitted
As per the Reserve Bank of India (RBI) guidelines when the residential status of a person changes from Resident to Non-Resident or vice versa, the existing Account(s) is/are re-designated.
You hold both a Resident and a Non-Resident Account with ICICI Bank Limited, India, which is in violation of the RBI guidelines.
To ensure compliance, confirm your current residential status through any of the following modes:
- By sending an e-mail to customer.care@icicibank.com from your registered e-mail ID
- Calling the Customer Care on 18601207777 from your registered mobile number
- By visiting your nearest ICICI Bank Branch.
If there is no response within 30 days from the date of this communication, ICICI Bank shall re-designate the Account(s). Your last updated Account is a Resident Account and we will re-designate your Non-Resident Account/s to a Resident Account/s. The Minimum Average Balance (MAB) requirement (click for details as per your MAB) will be in line with your existing NRI Account as mentioned in the communication. While re-designating your Account from NRI to Resident, the charges for the services rendered will be at par or lower than the charges in your NRI Account, except for the below service.
DD - Issue by deposit of cash |
NRI – Rs 4 per Rs 1000 or part thereof, subject to a minimum of Rs 100 and maximum of Rs 15000. |
SB – Rs 5 per Rs 1000 or part thereof, subject to a minimum of Rs 100 and maximum of Rs 15,000. |
For further information on the Account features and service charges, visit the Savings Account T&C section on ICICI Bank’s website.
Important points:
Visit ICICI Bank’s website for detailed T&C of the corresponding Accounts to which Non-Resident Account/s will be converted
Your Fixed Deposit(s) shall also be re-designated as per your residential status
The latest residential status will be considered for deduction of tax at source under the Income Tax laws on the income earned. Further, tax once deducted, if any, would not be adjusted and/or refunded and you will have to claim it during the Income Tax return filing process
There will be no change in the existing Standing Instructions on your Account, post re-designation of your Account
If any ICICIdirect Accounts are linked to such disputed Accounts, they shall be delinked and the Trading Account/s will be temporarily closed
If you have any ongoing Portfolio Investment Schemes (PIS), their approval will be suspended and you will be unable to trade, if the Account is re-designated to Resident
Upon re-designation of the Account(s), a new Debit Card will be issued to you as the guidelines do not permit use of the existing Debit Card(s) linked to your Account(s) for your re-designated Account(s).
