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Bank Accounts

Is interest earned on NRE Recurring Deposit account taxable in India?

No, Interest earned on NRE Account is not taxable in India.

Are my NRE Recurring Deposits funds repatriable?

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

Is interest earned on NRE Recurring Deposit taxable in India?

No, Interest earned on NRE Account is not taxable in India.

Can I have a joint account holder for this account?

You can hold the account jointly with other Non-Resident Indian(s).

What happens to the proceeds on maturity?

On maturity, the proceeds will be credited to your NRE Savings Account with ICICI Bank

Can I have a nominee for the account?

Yes, you have the right to specify different nominations for your accounts by completing the appropriate forms. Further, you are at liberty to change the nominee during the course of your deposit period, through a declaration to that effect in the appropriate form.

Can I close my NRE Recurring deposit prematurely?

Yes, you can close your NRE Recurring deposit before maturity. Interest will be calculated at the rate applicable for the period the Deposit has actually remained with ICICI Bank plus applicable penalty.

If closed before 12 months from the date of deposit opening, no interest is payable.

Is there any penalty in case of delay in payment of instalment for NRE Recurring deposit?

In case of delay in payment of any installments for NRE Recurring deposit account, a penalty of Rs. 12/- per thousand per installments will be levied.

What is the tenure for which I can open NRE Recurring Deposit?

Minimum Tenure: 1 year and thereafter in multiples of 3 months.
Maximum Tenure: 10 years

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.

You can also visit any ICICI Bank branch in India and submit the 'Account Closure' Request.

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

 

Can I appoint a mandate holder for my FCNR/RFC/NRE/NRO Fixed Deposits accounts?

No, a mandate holder can be appointed only for operating savings account

 

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'.

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.

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.

You can also visit any ICICI Bank branch in India and submit the Cancel Nomination in my account – DA2 form'.

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.

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.

You can also visit any ICICI Bank branch in India and submit the 'Update new Nominee – DA3' form.

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.

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.

You can also visit any ICICI Bank branch in India and submit the 'No Nominee Declaration - D1 '.

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.

Can I nominate more than one person for one account?

No, only 1 person can be nominated for an account

Can I register different nominees for different accounts?

Yes, you can have separate nominations for different accounts.

 

If I register a nominee when I open the account, do I have to fill in the nomination every time I make a new deposit?

No, you don't have to go through the same procedure every time. ICICI Bank allows NRIs to give a one-time instruction to make the nominee applicable for all accounts.