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Particulars FCNR NRO NRE
Denomination Foreign currency Indian currency Indian currency
Type of Account  Fixed Deposit Current Account / Savings account / Fixed Deposit / Recurring deposit Savings account / Fixed Deposit / Recurring deposit
Repatriability of Funds No restrictions No restrictions on interest earned, principal repatriable up to specified limits No restrictions
Taxation on interest income Exempt Taxable Exempt

How to book FCNR/NRE through Wire Transfer

  FCNR NRE
Process 1. Place wire transfer instructions to your overseas bank
2. Mention Customer ID in Beneficiary Account number field and mention tenure details/ FCNR creation in SWIFT remarks
3. For more details on wire transfer refer https://www.icicibank.com/nri-banking/money_transfer/wire-transfer/index
4. PAN/Form 60 is mandatory PAN can be updated through net banking. Incase you do not have PAN, update form 60 through net banking, you will receive SR number as reference, quote the SR number in SWIFT remarks.

1. Place wire transfer instructions to your overseas bank
2. Mention Account Number in Beneficiary Account number field and mention tenure details/ NREFD creation in SWIFT remarks
3. For more details on wire transfer refer https://www.icicibank.com/nri-banking/money_transfer/wire-transfer/index
4. NREFD application form
5. PAN/Form 60 is mandatory
PAN can be updated through net banking. Incase you do not have PAN, update form 60 through net banking, you will receive SR number as reference, quote the SR number in SWIFT remarks.

Process and documentation on closure of deposits

FD closure On maturity Premature closure
Single applicant Internet banking or Mobile banking or customer care Internet banking or Mobile banking or Direct couriered to ICICI Bank Limited, NRI HUB, RPC Mumbai Autumn Estate, 5th Floor, A wing Near Mhada Chandivali, Andheri-E, Mumbai -400072
More than one applicant Internet banking or Mobile banking or customer care Internet banking or Mobile banking or Direct couriered to ICICI Bank Limited, NRI HUB, RPC Mumbai Autumn Estate, 5th Floor, A wing Near Mhada Chandivali, Andheri-E, Mumbai -400072.
Documents: FD closure request signed by all account holder needs to be uploaded while placing the request online.

Please Note:

  • The deposit would be booked with the net amount received after deducting appropriate charges/ fees as may applicable at the time of remittance/ clearance of the cheque
  • In case of FCNR (B) FD booking request through wire transfer/ remittances, the request for FCNR (B) FD will be processed only if the remitter and the beneficiary name matches. For complete details, please visit  Terms and Conditions.

FCNR Fixed Deposit FAQ's

Yes, the principal amount and interest earned are fully repatriable.

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No, Interest earned on FCNR Fixed Deposit Account is not taxable in India.

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FCNR FD requests can be processed only if the Beneficiary and remitter is the same