NRE Fixed Deposit Account FAQs

An NRI is an Indian citizen who stays outside India:
(a) for purposes of carrying out employment or any business or vocation;
(b) under circumstances indicating an intention to stay outside India for an uncertain duration;
(c) any Indian citizen deputed outside India for a temporary period in connection with employment.

A citizen of a foreign country (other than a citizen of Bangladesh or Pakistan) is a PIO if
(a) he/ she at any time held an Indian passport; OR
(b) he/ she or either of his/ her parents or any of his/ her grandparents was a citizen of India; OR
(c) spouse (not being a citizen of Bangladesh or Pakistan) of an Indian citizen or (a) or (b) above.

Following types of bank accounts can be opened:
- Non-resident External (NRE)
- Non-resident Ordinary (NRO)
- Foreign currency Non-resident (FCNR)

You can open a NRI Account by applying online or by downloading the account opening form, filling it up and mailing it with relevant documents to our India address:

ICICI Bank Ltd.
NRI Remote RM Channel
1st Floor, A wing
"Autumn Estate"
Chandivili Farm Road
Chandivili
Andheri (East)
Mumbai-400072
Email us

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Please click here to know the documentation requirements for opening a NRI account

The minimum amount to open an NRE Fixed Deposit is INR 25,000

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

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

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You can maintain an NRE Fixed Deposit for 1-10 years.

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Yes. You can hold this Account jointly with other Non-Resident Indian(s) and Resident Indians*.You can also register nomination for this account

*This can be opened only with relatives and mode of operation shall be as Former or Survivor as per which only the Primary applicant shall have rights for Financial and Non-Financial transactions.

We will automatically renew the fixed deposits and it will keep earning you attractive interest rates. However, if you open the account under non-auto renewal mode, you must give us written maturity instructions.

No, you will not get a cheque book or an ATM-cum-debit card with your Fixed Deposit

You can request for FD Renewal 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 'Renewal of Term Deposit' Request form. To refer to the updated list of our branches please,Click here

In caseof further queries, please write through Email us or call our 24-hour Phone Banking Services

You can repatriate funds in two ways:

Demand Draft
Wire Transfer


You can place a request for Repatriation from fixed deposit through any of the following modes:

You can request for “Repatriation of Funds” by applying Online through "Service Request" option available in your Internet Banking. Alternatively, you can click here to download the request form for 'Outward Repatriation of Funds' 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 request. To refer to the updated list of our branches please, Click here

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. In case of Fixed Deposit closure wherever currency conversion is involved, w.e.f 1st April 2011, ICICI Bank Ltd. will levy the revised service tax as per the Service Tax Rules (1994) amended by Ministry of Finance (Govt. Of India) vide Notification No. 26/2011 – Service Tax, on 31st March, 2011.Please click here to know the slabwise service tax structure.

* Repatriation of funds will be subject to regulations of relevant jurisdiction as existing from time to time

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.To refer to the updated list of our branches please, Click here

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.

Yes, you can close your NRE Fixed 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. The table below provides charges that are applicable for premature closure
Deposit Amount Premature penalty clause on completion of one year

If the deposit is closed before 12 months from the date of deposit, no interest is payable, and thus no penalty will be charged. This is because the minimum duration of an NRE Fixed Deposit is 1 year.

Interest will be paid at the rate which is applicable for the period deposit has remained with the bank (after adjusting the penalty as mentioned above).

Example: If a deposit below INR 100 million was originally booked for 3 yrs, and it is prematurely closed after 2.5 years, then you would get interest applicable for 2 year deposit at the time of booking the original Fixed Deposit.

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

You can also visit any ICICI Bank branch in India and submit the 'DA1 Form'.To refer to the updated list of our branches please, Click here

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.

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'.To refer to the updated list of our branches please, Click here

For any clarification or more information, please call us on our 24-hour Customer Careor write to us through "Email us" option, at our website www.icicibank.com.

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.To refer to the updated list of our branches please, Click here

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.

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 '.To refer to the updated list of our branches please, Click here

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.

No, only 1 person can be nominated for an account

Yes, you can have separate nominations for different accounts.

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.

Yes, you can get up to 90% of your fixed deposit as loan.

If you wish to register yourself under DNC, you may visit www.icicibank.com and register yourself under the “Do not call” option present at the bottom of your screen. Please note that we will take 15 days from registration to process your request. Please note that even if you register under DNC you will continue to receive service level communication viz. account statements, revision of charges etc.

Please write to us mentioning your name, country, telephone numbers (Format: ISD- Area code and number for landline numbers, and ISD- Number for mobile numbers) and email ID. Alternatively, you may email us at donotcallregistry@icicibank.com to register yourself.

Please note that we need atleast 15 days from the receipt of your details to process your request.

Please write to us mentioning your name, country, telephone numbers (Format: ISD- Area code and number for landline numbers, and ISD- Number for mobile numbers) and email ID. Alternatively, you may email us at donotcallregistry@icicibank.com to register yourself.

Please note that we need atleast 15 days from the receipt of your details to process your request.