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About NRI Deposits

Grow your wealth with secure NRI Deposits

NRE or NRO Fixed Deposit offers attractive interest rates with assured returns. FCNR (B) provides complete protection from foreign currency fluctuations, making it ideal for NRIs (Non-Resident Indians), PIOs (Persons of Indian Origin) and OCIs (Overseas Citizens of India) looking to grow their foreign earnings securely.

Eligibility criteria for NRI Deposits

NRIs, PIOs and OCIs can open NRO or NRE or FCNR (B) FDs and Recurring Deposit. Thus, ensuring they can hold Deposits in both INR and foreign currencies.

Flexible tenure and currency options

NRI FDs are available in INR and offer flexible tenures ranging from 7 days to 10 years for NRO Fixed Deposit and from 1 year to 10 years for NRE Fixed Deposit. FCNR (B) Fixed Deposit is available in major foreign currencies like USD, GBP, SGD, CAD, AUD and offers flexible tenures ranging from 1 year to 5 years for USD currency and 1 year to less than 3 years for GBP, SGD, CAD and AUD currencies.

Easy digital access and branch access

Open and manage your deposits conveniently through ICICI Bank Internet Banking, iMobile app or by visiting any ICICI Bank Branch. Online booking, auto-renewal and premature withdrawal options add to the flexibility.

NRI Deposits FAQs

Who can open an NRI Fixed Deposit?

NRIs (Non-Resident Indians), PIOs (Persons of Indian Origin) and OCIs (Overseas Citizens of India) with valid documentation can open an NRI FD.

In which currencies and tenures can FCNR (B) Fixed Deposit be opened?

FCNR (B) deposits can be opened for a minimum tenure of 1 year up to 5 years for USD, GBP, SGD, CAD & AUD currencies.

Who can open a Resident Foreign Currency (RFC) Fixed Deposit?

NRIs who move back to India can open a Resident Foreign Currency Fixed Deposit, provided they have valid documentation.

In which currencies can RFC Fixed Deposit be opened?

RFC Fixed Deposit can be opened in USD and GBP currencies.

Can I withdraw my NRI FD before maturity?

Yes, premature withdrawals are allowed for NRI callable deposits, but applicable charges and conditions may vary based on the deposit type.

Are the interest earnings on NRI Fixed Deposits taxable in India?

Interest earnings on FCNR (B) Fixed Deposit & NRE Fixed Deposit are tax-free in India, whereas interest earnings on NRO Fixed Deposit are subject to tax as per the Indian laws.

How can I apply for NRI Fixed Deposits?

You can apply online via ICICI Bank Net Banking or the ICICI Bank’s iMobile app. Alternatively, you may visit any ICICI Bank Branch, call Customer Care on 1800 1080 or use the wire transfer options available to apply for NRI Fixed Deposits.

How to generate your deposit confirmation advice (e-DCA) instantly?

Generate your deposit confirmation advice (e-DCA) instantly eligibility to generate e-DCA

You can generate your e-DCA if: 

  • You have a Debit Card linked to your Account. If you need a new one, contact our 24-hour customer care. 
  • You have a PIN for your Debit Card. To generate a PIN, reach out to our 24-hour customer care. 
  • You have your Savings Account number linked to the Debit Card or your Non-resident Fixed Deposit (FD) Account number.

Important Notes

  • e-DCA is not available for RFC FDs and FCNR FDs. 
  • It cannot be generated for Recurring Deposits, Flex Fixed Deposits, Quantum Optima Deposits, or FDs issued by a branch 
  • e-DCA can be generated for active FD.

Generate your e-DCA now

 

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