Frequently Asked Questions

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)

You can open an NRE Savings Account by applying online. Click on link below and our customer service representative will call you back in next 15 minutes to assist you in opening an account. 

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An NRI Savings Account helps Non-Resident Indians manage income earned both in India and abroad through one secure banking relationship. It allows you to deposit, transfer, and repatriate funds conveniently while enjoying full digital access and attractive interest rates.

ICICI Bank offers two main types — the NRE (Non-Resident External) Account for income earned abroad, and the NRO (Non-Resident Ordinary) Account for income generated in India. Both accounts provide easy fund transfers, global access, and online management through iMobile App or Net Banking.

An NRE Account is primarily meant for depositing foreign income and allows complete repatriation of both principal and interest, tax-free in India. The NRO Account, on the other hand, is used to manage Indian income such as rent, dividends, or pension, and interest earned on it is taxable as per Indian laws.

NRE/NRO Savings Account holders get Smart Shopper Silver Debit Card. If you are not an ICICI Bank customer, you can open a NRE/NRO savings account and get Smart Shopper Silver Debit Card.

Any Indian citizen living outside India for employment, business, or education purposes for more than 182 days in a financial year is eligible. You can apply online or at ICICI Bank branches by submitting valid KYC documents and proof of your overseas residence.

Yes. Persons of Indian Origin (PIO) and Overseas Citizens of India (OCI) can open both NRE and NRO accounts with ICICI Bank. The account can be used to invest in Indian assets, manage family expenses, and receive Indian income seamlessly.

Only foreign nationals of Indian origin or those holding OCI/PIO status are eligible. Non-Indian foreign nationals are not permitted to open NRI accounts under FEMA regulations.

Yes. You can open an NRI account while in India if you have valid overseas employment or visa documents ready. Once your residential status changes, the account will automatically operate as an NRI account.

Yes, a joint account holder can definitely be issued a separate debit card if the mode of operation of the account is other than FRS (Former or Survivor) or JTLY(Jointly).

Yes. NRIs can maintain both accounts to separate income earned abroad (for easy repatriation) from income earned in India (for domestic expenses and investments). ICICI Bank allows you to manage both under a single login ID.

Yes. Parents or guardians can open an NRI minor account to save funds for a child studying abroad or living in India. The guardian operates the account until the minor attains majority.

Yes. ICICI Bank allows linking of your NRO account with mutual funds, insurance policies, and demat accounts so you can manage investments and repatriate eligible proceeds smoothly.

When you attain non-resident status, you must re-designate your resident account to an NRO (Non-Resident Ordinary) account.

Yes, you may open an NRO account jointly with a resident parent or relative. This helps in managing family expenses, rent receipts, or utility bills in India.

Yes. Students on valid student visas can open NRE accounts to receive funds from India for education, living expenses, or remittances from parents.

An NRI is an Indian citizen residing outside India for employment, business, or vocational purposes. ICICI Bank complies with FEMA and RBI definitions while evaluating eligibility.

No. Interest earned on NRE accounts is fully exempt from Indian income tax, making it an efficient way to manage foreign earnings in India.

Yes. Interest from NRO accounts is taxable at source (TDS of 30% plus applicable surcharge and cess). You can claim refund or tax-credit benefits under the DTAA if your country has one with India.

Non-maintenance charges apply depending on the account type and shortfall amount. ICICI Bank offers digital alerts to help you track balances and avoid penalties. For service and Penal charges click here.

Yes, provided your employer remits funds from outside India in foreign currency. This keeps your salary fully repatriable and tax-exempt in India.

Yes. Standard network fees and foreign currency conversion charges apply to know service and penal charges click here.

Interest on NRI accounts is the same as domestic savings accounts and is subject to change as per RBI guidelines. The rate is applied on daily EOD balances and credited quarterly. To know the current interest rate click here.

You enjoy seamless global fund transfers, attractive interest rates, tax-free earnings on NRE balances, and 24×7 access via iMobile App and Net Banking. You also benefit from a strong branch network and NRI service desks across India and abroad.

Yes. A specialized NRI Customer Care team operates 24×7 across multiple geographies through toll-free international helplines, live chat, and email to assist with transactions, remittances, or account-related concerns. To get the customer care details click here

You can manage everything online—open accounts, send money home, pay Indian bills, track deposits, or update KYC—all from your mobile or laptop without visiting a branch.

Yes, Private banking, Premium and Select programme provideinsurance covers, ensuring peace of mind while living or traveling abroad, please note they insurance cover may not be available to countries with local government restrictions.

Click here to check the schedule of charges for NRI.

No. All payments from Indian accounts must be settled in INR. However, ICICI Bank’s remittance services allow you to send money abroad in foreign currency.

Yes. Your NRO account can be used to make statutory payments like taxes, insurance premiums, or investments in Indian schemes such as PPF (subject to eligibility).