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FCNR Fixed Deposit

FCNR(B) or foreign currency fixed deposit, is designed as an attractive investment opportunity for Non-Resident Indians. This account helps to maximise returns on your foreign currency investments. This account protects you from foreign currency exchange fluctuations while securing attractive and assured returns.

Existing Customer Apply NOw

Features of FCNR Fixed Deposit

Modes of booking

Internet Banking, I-mobile, Phone Banking, Wire Transfer, Request at your nearest branch, Direct channel

Hassle-free renewal

Automatic renewal of your principal and interest on maturity

Easy movement

Principal amount and interest earned are fully repatriable

Tax benefits

Interest earned is not taxable in India

Attractive loan options

Loans up to 85% of your deposit at attractive interest rates. Maximum INR 500 lakhs.

Quick processing

Electronic Deposit Confirmation Advice (E- DCA) on your e-mail ID in 1 working day

Tenure

Ranging from 1 to 5 years for USD, GBP, CAD, AUD, and SGD Open your account.

Avail in 5 currencies

FCNR can be booked in 5 currencies USD, GBP 1,000. SGD, CAD and AUD 2,000

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.

Forms

FD opening form

FD closure through digital banking form

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.