NRE Recurring Deposit Account FAQs

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

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

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

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

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.

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.

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.

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

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

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.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.

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.

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.

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.

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.