What Is NRI Account

NRI BANKING
Introduction to NRI Banking

The 1990s were a time of great change for the banking sector in India the Government
set liberalization measures in motion. A few private banks got licensed to set up shop and
changed the face of banking in India. In this section, BankandFinance.com goes over the
introduction to NRI Banking in India and how it can benefit people of Indian origin living
abroad. These private sector banks have contributed to growth in a phenomenal fashion
and are known for being tech - savvy too. The banking sector has introduced a number of
benefits to attract Indian customers, businesses and individuals living overseas to open
NRI Bank accounts. By opening up an NRI account, customers can save money in an
Indian bank account and get good returns on their money. Any NRI Bank in India gives
people flexible investment options by helping them save money and also give back to their
country. Foreign investments and deposits have helped the economy to grow and thrive.
NRI Banking provides benefits to NRIs by offering facilities like the international debit or
credit cards, taking loans, making deposits, withdrawals, purchasing insurance policies
and many others. Since many people migrate to different parts of the world for jobs,
business opportunities and other reasons, they appreciate the facility of having a bank
account to transfer money and also save in their Indian account.
Depending on requirements, one can choose from current accounts, savings, fixed or a
recurring account. Use the check debit card to find out what the available balance in your
current accounts or another account is. The account holder can also use funds saved for
future investments such as opening an account with a forex trading brokerage to buy or
sell the currencies online on a real time basis. Forex trading is a high risk high returns
business which people can make money in, without having to travel.
Opening an NRE account can be facilitated based on rules and regulations set up by the
government and the Reserve Bank of India with regard to NRI bank in India. Not all banks
in India offer NRE account opening facilities to individuals; the NRI Bank has to have
authorization from the Reserve Bank of India to be able to do so and provide different
types of bank account such as checking account, savings account etc. suitable for
individual needs.
Every NRI bank in India has to maintain funds of the account holder in both foreign and
Indian currency. According to the Foreign Exchange Management Act 1999, the
Government of India provides three types of different schemes to open NRI banking
account in India such as:-
FCNR (Foreign Currency Non Resident Account)

NRE Account {Non Resident Rupee Account (External)}
NRO Account {Non Resident Rupee Account (Ordinary) }
The individual applying for a NRI Banking account can get the full benefit of saving funds
in any of the above listed schemes according to need and suitability of the account.. Use
the currency conversion calculator to calculate amount in Indian currency. If one wants to
open a joint account with an Indian citizen in NRI Bank in India, you should check with the
bank account provider to see it is possible and even permitted. Individuals looking to put
money long term in fixed deposits can choose the FCNR scheme for maximum benefits.
People can SBI Bank NRI account to get instant transfer of money from and to any other
account. HDFC Banking in India provides NRE current accounts, NRO current accounts,
NRO savings account and NRE savings account. The currency conversion calculator in
bankandfinance.com gives people various options to calculate your funds from foreign to
Indian currency from your bank account.
Benefits of taking NRO Account and NRE Account

One can easily manage and save time in transferring to other current accounts with
the help of quick transfer option
NRI bank allows people to exchange of foreign currency to Indian currency and vice
versa
By opening a NRE account, one can easily transfer the funds to any other country
All funds that are saved in the bank account of NRE current accounts can be
money sent from any country/or from any other NRE account that is operated in
India
People can also enjoy the benefit of transferring funds from NRE account to NRO
account
Joint bank account can be availed by taking the NRE account where the joint
account holder is an NRI
Account holders should get familiar with all the benefits of a NRI account. Compare
benefits of taking the bank account from NRI bank in India and choose the most
appropriate one to meet needs. Also check interest rates that are offered by the NRI bank
according to your savings capability. Bank accounts can only be opened after submitting
necessary documents that will verify the applicants age, residence, business and etc.
Account holders get the benefit of transferring the funds to India using the wire transfer
facility and fast click services from savings or current accounts. One can also repatriate
money that has been saved along with the interest rates from your bank account from
India and some of the principal and interest are tax exempt.
What is NRI Account?

NRI ACCOUNT
In India banking terminology, the term NRI Account refers to funds
deposited by a Non-Resident Indian or NRI with a financial
institution authorized by the Reserve Bank of India to provide such
services. A Non-Resident Indian is an Indian citizen who primarily
resides outside of India.
NRI Account Example:
For example:- A NRI Account held in an India-based bank or

another Reserve Bank of India authorized dealer could be opened
by a citizen of India who is living for an uncertain but extended
period of time in the United States or another country outside of
India. The Non-Resident Indian citizen might be operating a
business, working for someone else, or obtaining higher education.
Such an NRI Account should generally be opened by the account
holder personally, instead of by someone holding their power of
attorney. One of the advantages of opening an NRI Account is that
it can be used by Non-Resident Indians to invest in and trade the
Indian financial markets.
NRI SERVICES
NRI SERVICES FACILITIES FOR NON-RESIDENT INDIANS (NRIs)/PERSONS
OF INDIAN ORIGIN (PIOs)
(1). REMITTANCE -Any amount of remittance in foreign exchange from

overseas can be remitted to any Indian individual/firms/ company or to open
the following type of accounts as per Government/RBI guidelines. All Indian
rupee conversions to Non-Resident Accounts (for 100% value) would be done
at the prevailing market rates.
(2). DEPOSITS :
( i) NON RESIDENT (EXTERNAL) RUPEE ACCOUNT (NRE)
This account can be kept in various forms like Current, Savings, Recurring or
Term Deposits. The account is maintained only in Indian Rupees and amount
of deposit and interest earned is fully repatriable . Income from interest on
balances standing to the credit of NRE accounts is exempt from income tax.
Likewise balances held in such accounts are exempt from wealth tax.
(ii) FOREIGN CURRENCY NON-RESIDENT (FCNR) ACCOUNTS (BANKS)

SCHEME
This account can be kept in our bank for a period of 1 year and above up to and
inclusive of 5 years in one of the five specified currencies viz. Pound Sterling,
US Dollars, Euro, Australian Dollar or Canadian Dollar & can be made in the
same currency or in any other permitted currency. Amount of deposit and
interest earned thereon are fully repatriable . There is no minimum amount
requirement for opening this account. The exchange risk in this account is
borne by our bank. Income from interest on balances standing to the credit of
FCNR (B) accounts is exempt from income tax. Likewise balances held in such
accounts are exempt from wealth tax.
( iii) ORDINARY NON-RESIDENT (NRO) ACCOUNT
Any person/entity resident outside India may open NRO account. The account
may be held jointly with residents and/or with non-resident. NRO account
may be opened in the form of savings, current, recurring or fixed deposits for
the purpose of putting through bonafide transactions in rupees. Legitimate
dues in India of the account holder can be credited freely .Remittance of
current net income earned in India (i.e. after payment of tax) outside is
allowed. Interest earned on deposits shall be subject to TDS at prevailing rates
and interest earned on NRO account is freely repatriable. NRI/PIO may remit
through an Authorised Dealer an amount not exceeding USD 1 Million per
financial year, out of balance held in the NRO account representing the sale
proceeds of assets (a) acquired in India out of rupee /foreign currency funds
OR (b) by way of inheritance /legacy or settlement from a person who was
resident in India subject to certain conditions.
(3) INVESTMENTS ON REPATRIATION BASIS:
(a) Government dated securities/treasury bills.
(b) Units of domestic mutual funds.
(c) Bonds issued by a public sector undertakings (PSU) in India
(d) Shares in public sector enterprises being dis-invested by the Government of

India, provided the purchase is in accordance with the terms and conditions
stipulated in the notice inviting bids.
(e) Shares and convertible debentures of Indian companies under FDI scheme
(including automatic route & FIPB).
(f) Shares and convertible debentures of Indian companies through stock

exchange under portfolio investment scheme.
(g) Perpetual debt instruments and debt capital instruments issued by bank in
India.
(h) Non-convertible debentures of a company incorporated in India.

(4) INVESTMENTS ON NON-REPATRIATION BASIS:
(a) Units of Money Market Mutual Funds in India.
(b) The capital of a firm or proprietary concern in India, not engaged in any
agricultural or plantation activity or real estate business.
(c) Deposits with a company registered under the Companies Act, 1956
including NBFC registered with RBI, or a body corporate created under an Act
of Parliament or State Legislature, a proprietorship concern or a firm out of
rupee funds which do not represent inward remittances or transfer from
NRE/FCNR (B) Accounts into the NRO Account.
(d) Government dated securities (other than bearer securities)/treasury bills.
(e) Unit of domestic mutual funds.
(f) Non-convertible debentures of a company incorporated in India.
(g) Commercial Paper issued by an Indian company.
(h) Shares and convertible debentures of Indian companies other than under
Portfolio Investment Scheme.
(5) INVESTMENT IN IMMOVABLE PROPERTY:
(a) NRIs may acquire immovable property in India other than

agricultural/plantation property or a farm house out of repatriable and non
repatriable funds.
(b) Housing loan in rupees availed of by NRIs from ADs/Housing financial

institutions can be repaid by the close relatives in India of the borrower. NRIs
are eligible to repatriate
(c) Sale proceeds of immovable property acquired in India to the extent of

repatriable funds used for acquiring the property, without any lock-in period,
up to two residential properties.
(d) Refund of
(i) application/earnest money/purchase consideration made by house building

agencies/seller on account of non-allotment of flats/plots and
(ii) Cancellation of booking/deals or purchase of residential/commercial

properties, together with interest, net of taxes, provided original payment is
made out of NRE/FCNR (B) account/inward remittances.
(6) FACILITIES FOR RETURNING NRIs/PIOs
(a) Returning NRIs/PIOs may continue to hold, own, transfer or invest in

foreign currency, foreign security or any immovable property situated outside
India, if such currency, security or property was acquired, held or owned when
resident outside India.
(b) Returning NRIs/PIOs may open, hold and maintain with an authorized
dealer in India a Resident Foreign Currency (RFC) account in any permitted
currency in the form of savings, current and term deposits, to transfer balances
held in NRE/FCNR
(B) accounts . Proceeds of assets held outside India at the time of return, can
be credited to RFC account. The funds in RFC account are free from all
restriction regarding utilization of foreign currency balances including any
restriction on investment in any form outside India.
(7) TRANSFER OF FUNDS FACILITY THROUGH WESTERN UNION
Our Bank has arrangement with Western Union, money-transferor, for transfer
of funds from any part of the world to any branch of our bank. Only personal
remittances up to USD 2500 or its equivalent are allowed.
TYPES OF ACCOUNTS
Just became a Non-Resident Indian (NRI)? One of the first practical issues you face is
regarding your bank accounts in India. What kind of bank account can be maintained and
operated NRO / NRE / FCNR account? Note that NRI for the purpose of bank accounts is
as defined under FEMA
NRIs / PIOs / OCBs are permitted to open bank accounts in India out of funds remitted from
abroad, foreign exchange brought in from abroad or out of funds legitimately due to them in
India, with an authorised dealer. Such accounts can be opened with banks specially authorised
by the Reserve Bank in this behalf. NRIs can open and operate the following five types of Bank
accounts.
1. Ordinary Non-Resident Rupee Accounts (NRO Accounts)
These are Rupee denominated non-repatriable accounts and can be in the form of savings,
current recurring or fixed deposits. These accounts can be opened jointly with residents in
India. When an Indian National / PIO resident in India leaves for taking up employment, etc.
outside the country, his bank account in India gets designated as NRO account.
The deposits can be used to make all legitimate payments in rupees. Interest income, from NRO
accounts is taxable. Interest income, net of taxes is reportable. NRO account can be funded
through any of the following sources:
By proceeds of foreign exchange remittance from abroad through banking channels in

an approved manner
By proceeds of foreign currency notes and traveler cheques brought into India by the
non-resident while on a temporary visit to India
By transfer from an existing non-resident account in the name of the same person
By funds from a local source representing bonafide transactions in rupees
Conditions regarding repatriation of balances in NRO accounts:
Repatriation is allowed up to US dollars 1 million per calendar year for any purpose
from the balances in NRO accounts subject to payment of applicable taxes
Limit of US dollars 1 million includes sale proceeds of immovable properties held by
NRIs / PIOs for a period of 10 years
In case a property is sold after being held for less than 10 years, remittance can be made
if the sale proceeds have been held by the NRI/PIO for the balance period
2. Non-Resident (External) Rupee Accounts (NRE Accounts)
NRIs, PIOs, OCBs are eligible to open NRE Accounts. These are rupee denominated accounts
and can be in the form of savings, current, recurring or fixed deposit accounts. Accounts can be
opened by remittance of funds in free foreign exchange. Foreign exchange brought in legally,
repatriable incomes of the account holder, etc. can be credited to the account. Joint operation
with other NRIs/PIOs is permitted. Power of attorney can be granted to residents for operation
of accounts.
The deposits can be used for all legitimate purposes. The balance in the account is freely
repatriable. Interest lying to the credit of NRE accounts is exempt from tax in the hands of the
NRI. Funds held in NRE accounts may be freely transferred to FCNR accounts of the same
account holder. Likewise, funds held in FCNR accounts may be transferred to NRE accounts of
the same account holders.
Immediately upon return of the account holder to India and on his becoming a resident in India,
NRE Account will be re-designated as Resident Rupee Account or converted to RFC account as
per the option of the account holder. However, if the account holder is only on a short visit to
India, the account will continue to be treated as NRE account.
The initial deposit in NRE account can be made in any of the following manners:
By proceeds of foreign exchange remittances from abroad through banking channels in

an approved manner
By proceeds of foreign currency notes and traveler cheques brought into India by the
non-resident while on a temporary visit to India
By transfer from an existing NRE Account of the same person
3. Foreign Currency (Non Resident) Accounts (Banks) (FCNR (B) Accounts)
NRIs / PIOs / OCBs are permitted to open such accounts in US Dollars, Sterling Pounds,
Australian Dollars, Canadian Dollars, Japanese Yen and Euro. The account may be opened only
in the form of term deposit for any of the following maturity periods; (a) one year and above
but less than two years, (ii) two years and above but less than three years, (iii) three years and
above but less than four years, (iv) four years and above but less than five years, and (v) five
years.
Interest income is tax free in the hands of NRI until he maintains a non-resident status or a
resident but not ordinarily resident status under the Indian tax laws. Money lying in FCNR (B)
accounts can also be utilised for local disbursements including payment for exports from India,
repatriation of funds abroad and for making investments in India, as per foreign investment
guidelines.
4. Non-Resident (Non-Repatriable) Rupee Deposit Accounts (NRNR Accounts)
NRIs / PIOs / OCBs, other non-resident Individuals/entities are permitted to open these
accounts by transfer of freely convertible foreign currency funds from abroad, or from NRE /
FCNR accounts. Non-residents can open joint accounts with other Non-Residents (except
Pakistan and Bangladeshi nationals) or resident close relatives in India. Deposits can be held
jointly with a resident. Deposits can be for a period from 6 months to 3 years, and can be
renewed further. Accounts may also be opened by transfer of funds from the existing
NRE/FCNR accounts of the non-resident accounts holders.
The principal is non-repatriable; interest can be repatriated. There is no income tax on the
interest. Accounts under the Non-Resident (Non-Repatriable) Rupee Deposit Scheme may be
opened in Indian rupees out of the funds in freely convertible foreign exchange transferred for
the purpose to India in an approved manner from the country of residence of the prospective
non-resident account holder or from any other country. Transfer of funds from the existing NRE
/ FCNR Accounts of the non-resident account holder may also open accounts.
5. Non-Resident (Special) Rupee Accounts with banks in India
NRIs/PIOs presently have the facility of maintaining bank accounts and undertaking financial
transactions in India subject to certain exchange control regulations.
In order to simplify the procedures and to provide greater freedom to NRIs/PIOs for putting
through financial transactions in India, NRIs and PIOs are now permitted to open bank accounts
in India, which will be at par with rupee accounts, maintained by residents. They can now open
Non-Resident (Special) Rupee Accounts with banks in India which will have the same facilities
and restrictions as are applicable to rupee accounts maintained in India by residents relating to
repatriation of funds held in these accounts and/or income/interest earned on them. The
procedure for opening such accounts is the same as that of domestic accounts of resident
individuals. The existing facilities for NRIs / PIOs to maintain and operate NRO, NRE and
FCNR accounts also continues. The repatriation facilities available under these accounts will
continue as before.
Given below is comparison between NRO, NRE and FCNR (B) accounts:
Accounts and
NRO NRE FCNR(B)
features
To park Indian To park overseas
To park overseas savings
earnings like rent, savings remitted to
Purpose of Account without converting into
Indian salary, India after
INR
dividend etc converting to INR
Any person resident
outside India (other
than a person
NRIs(individuals /
resident in Nepal and
entities of NRIs (individuals
Bhutan). Individuals
Bangladesh/ /entities of Bangladesh/
Who can open an / entities of
Pakistan nationality/ Pakistan nationality/
account Bangladesh/ Pakistan
ownership require ownership require prior
nationality /
prior approval of approval of RBI)
ownership as well as
RBI)
erstwhile OCBs
require prior
approval of RBI)
Nomination Permitted Permitted Permitted
Pound Sterling, US
Currency in which
Dollar, Japanese Yen,
account is Indian Rupees Indian Rupees
Euro, Canadian Dollar
denominated
and Australian Dollar
Account Types Savings Bank Savings Bank Fixed Deposit
Account Account
Fixed Deposit Fixed Deposit
Current Account Current Account
Both with resident /
Joint Holding Only with NRIs Only with NRIs
non-resident
Tax deducted at Subject to tax Exempt from tax Exempt from tax
source deducted at source deducted at source deducted at source
The principal
amount is not
repatriable and can
be used only for
local payments.
Funds up to USD 1
million (or
Repatriation of equivalent) per
Freely Repatriable Freely Repatriable
Principal financial year can be
repatriated out of the
balance held in NRO
accounts for the
education of your
children, for medical
expenses for your
family and you, etc
Repatriation of
Freely Repatriable Freely Repatriable Freely Repatriable
Interest
For terms not less than 1
Period for fixed As applicable to At the discretion of
year and not more than 5
deposits resident accounts. the bank
years.
Banks are free to Banks are free to
Subject to cap :
determine their determine the
LIBOR / SWAP rates +
interest rates on interest rates of
200 basis points for
savings deposits savings and term
tenor of 1 year to less
under NRO deposits of maturity
than 3 years & LIBOR /
Accounts. However, of one year and
Rate of Interest SWAP rates + 300 basis
interest rates offered above.
points for tenor of 3
by banks on NRO Interest rates offered
years to 5 years ( w.e.f.
deposits cannot be by banks on NRE
May 4, 2012) for the
higher than those deposits cannot be
respective currency /
offered by them on higher than those
corresponding maturities.
comparable domestic offered by them on
rupee deposits. comparable domestic
rupee deposits.
Operations on the Operations on the
account in terms of account in terms of
Operations on the
Power of Attorney is Power of Attorney is
account in terms of
Operations by restricted to restricted to
Power of Attorney is
Power of Attorney withdrawals for withdrawals for
restricted to withdrawals
in favour of a permissible local permissible local
for permissible local
resident by the non- payments or payments or
payments or remittance
resident account remittance to the remittance to the
to the accountholder
holder accountholder account holder
himself through normal
himself through himself through
banking channels.
normal banking normal banking
channels. channels.
Loans
i) Permitted up to i) Permitted up to Rs.100
a. In India
i) Permitted Rs.100 lakhs lakhs
i) to the Account
ii) Permitted ii) Permitted up to ii) Permitted up to
holder
Rs.100 lakhs Rs.100 lakhs
ii) to Third Parties
i) Permitted i) Permitted
(Provided no funds (Provided no funds are
are remitted back to remitted back to India
b. Abroad India and are used and are used abroad
i) to the i) Not Permitted abroad only) only)
Accountholder ii) Not Permitted ii) Permitted ii) Permitted
ii) to Third Parties (Provided no funds (Provided no funds are
are remitted back to remitted back to India
India and are used and are used abroad
abroad only) only)
c. Foreign
Currency Loans in
i) Permitted up to Rs.100
India i) Not Permitted i) Not Permitted
lakhs
i) to the Account ii) Not Permitted ii) Not Permitted
ii) Not Permitted
holder
ii) to Third Parties
i) Personal purposes Personal
Purpose of Loan
Personal requirement or for carrying on purposes
a. In India
and / or business business activities. * or for
i) to the Account
purpose * ii) Direct investment carrying
holder
in India on non- on
repatriation basis by business
way of contribution activities.
to the capital of *
Indian firms / ii)Direct investment in
companies India on non-repatriation
iii) Acquisition of basis by way of
flat / house in India contribution to the
for his own capital of Indian firms /
residential use. companies
(Please refer to para iii) Acquisition of flat /
6(a) of Sch.1 to house in India for his
FEMA 5) own residential use.
(Please refer to para 9 of
Sch. 2 to FEMA5)
Fund based and / or
Fund based and / or non-
non-fund based
fund based facilities for
facilities for personal
Personal requirement personal purposes or for
purposes or for
ii) to Third Party and / or business carrying on business
carrying on business
purpose * activities *. (Please refer
activities *. (Please
to para 9 of Sch. 2 to
refer to para 6(b) of
FEMA 5).
Sch. 1to FEMA 5)
b. Abroad Fund based and / or
Fund based and / or non-
To the account non-fund based
Not permitted. fund based facilities for
holder and Third facilities for
bonafide purposes.
Party bonafide purposes.
* The loans cannot be utilised for the purpose of re-lending or for carrying on
agriculture or plantation activities or for investment in real estate business.
COMPARISON TABLE
Featur NRE NRO NRE NRO FCNR (B) Resident Foreign Currency
es Accou Account Fixed Fixed Account (RFC)
nt Deposits Deposits
Account Saving Saving Fixed Fixed Fixed Deposit Fixed Deposit

Type
Accou Account Deposit Deposit
nt
Curren Current
t Account
Accou
nt
Currency Indian Indian Indian Indian US Dollars, US Dollars, British
Rupee Rupees Rupees Rupees British Pounds, Euros,
s Pounds, Euros, Japanese
Japanese Yen, Yen
Canadian
Dollars,
Australian
Dollars, Danish
Krone, Swiss
Francs, Swedish
Krona
Average Saving Savings Minimu Minimum USD 1000 USD 5000
Monthly
balance
s account- m First First Deposit
accoun INR Deposit INR 25000 GBP 500 GBP 3500
t- 1,50,000 INR JPY 12500 JPY 500000
INR 25000 0 EUR 5000
1,50,0 EUR 750
00
CAD 1500
Curren Current AUD 1500
t Account-
Accou INR DKK 1000
nt- 1,50,000 CHF 1000
INR
SEK 1000
1,50,0
00
Repatriati Freely Restricted Freely Restricted Freely Repatriable Freely Repatriable
on
Repatr repatriabili Repatria repatriability^
iable ty^ ble
(Post (Post
Deduction Deduction of
of applicable
applicable tax)
tax)
Tax Tax Taxes* Tax Taxes* Tax free* in Taxes* applicable
free* applicable free* in applicable India in India
in in India India in India
India
Joint With Resident With With With Resident Only with other
Account ^^
Reside Indians as Resident Resident Indians as well as returning
nt well Indians^ Indians as other NRIs Non-Resident Indians
^
Indian as other as well well as other
s^^ as NRIs as other NRIs
well as NRIs
other
NRIs
Deposit of Not Permitted Not Permitted Not permitted Not permitted
Rupee
funds
permitt permitte
generated ed d
in India
Choose You You need You You want to You want tax You wish to maintain
this
account
need an account want to earn higher free* your overseas savings
if an for earn returns returns in India on or NRE/FCNR (B)
accoun making higher compared to your account balances in
t for INR returns a foreign currency foreign currency even
makin payments on your savings/curre fixed after you return to
g INR / overseas nt account deposits India
payme investment savings on your and convert them into
nts / s in India as Rupee INR at a more
invest from compare income favourable exchange
ments your India d earned in rate at a later date
in earnings to a India
India savings/
from current
your account
overse in India
as
earnin
gs
You You need You You wish to keep
want an account want tax your
to for free* overseas savings
mainta depositing returns in
in your in India India but do not
your income in on your want to
saving India from INR convert them into
s in sources fixed INR
INR such deposits
but as rent,
keep dividends,
them etc.
liquid
You You wish
wish to open
to the
open account
an jointly
INR with a
accoun person
t resident in
jointly India
with
anothe
r NRI
You
want
your
Rupee
savings
to be
freely
repatriab
le
AUTHORISED DEALERS
Banks play an important role in all foreign exchange transactions in India. All
receipts and payments in foreign exchange are require to be settled in almost all
cases through a bank authorised to deal in foreign exchange. Section 6 of FERA
requires the bank to obtain a licence from Reserve Bank of India (RBI) to deal in
foreign exchange, and such banks are the authorised dealers in foreign
exchange.
Indian national and persons of Indian origin resident abroad can open bank
accounts in India freely, out of funds remitted from abroad in foreign exchange, or
out of funds legitimately due to them in India. RBI has granted general permission
to Authorised Dealers to open such accounts freely, although in some cases the
requests of Non-residents will have to be approved by RBI.
Besides authorised dealers the RBI has permitted certain State Co-operative
Banks, Scheduled Commercial Banks and Urban Co-operative Banks, which do not
hold licences as full-fledged Authorised Dealers, but which fulfil the eligibility
criteria, prescribed by RBI, to maintain Non-resident Ordinary Rupee Accounts
(NRO Accounts) and Non-resident External Accounts in rupees. They cannot
maintain
Foreign Currency (Non-Resident) Accounts (Bank) Scheme
LIST OF BANKS AND OTHER INSTITUTIONS (AUTHORISED DEALERS) TO

WHOM LICENCES HAVE BEEN ISSUED TO DEAL IN FOREIGN EXCHANGE
A. Banks and others holding full-fledged licences
1. ABN AMRO Bank N.V.
2. Abu Dhabi Commercial Bank Ltd.
3. Allahabad Bank
4. American Express Bank Ltd.
5. Andhra Bank.
6. ANZ Grindlays Bank Ltd.
8. Bank International Indonesia
9. Bank of America National Trust and Savings Association
10. Bank of Bahrain and Kuwait B.S.C.
11. Bank of Baroda
12. Bank of Ceylon
13. Bank of India
14. Bank of Madura ltd.
15. Bank of Maharashtra
16. Bank Muscat International S.A.O.G.
17. Bank of Nova Scotia
18. Bank of Punjab Ltd.
19. Bank of Rajasthan Ltd.
20. Bank of Tokyo-Mitsubishi Ltd.
21. Banque Nationale De Paris
22. Barclays Bank p.l.c.
23. Benares State Bank Ltd.
24. Bharat Overseas Bank Ltd.
25. Bombay Mercantile Co-operative Bank Ltd.
26. The British Bank of the Middle East.
27. Canara Bank.
28. Catholic Syrian Bank Ltd.
29. Central Bank of India
30. Centurion Bank Ltd.
31. The Chase Manhattan Bank
32. Chinatrust Commercial Bank
33. Cho Hung Bank
34. Citibank N.A.
35. City Union Bank Ltd.
36. Commerzbank A,G.
37. Corporation Bank
38. Credit Agricole Indosuez
39. Credit Lyonnais
40. Dena Bank
41. Deutsche Bank Aktiengesellschaft
42. The Development Bank of Signapore Ltd.
43. Development Credit Bank Ltd.
44. Dhanalakshmi Bank Ltd.
45. Dresdner Bank A.G.
46. Federal Bank ltd.
47. The Fuji Bank ltd.
48. Global Trust Bank Ltd.
49. HDFC Bank Ltd.
50. The Hongkong and Shanghai Banking Corporation Ltd.
51. ICICI Banking Corporation Ltd.
52. IDBI Bank Ltd.
53. Indian Bank
54. Indian Overseas Bank
55. Induslnd Bank Ltd.
56. International Nederlanden Bank (ING Bank)
57. Jammu and Kashmir Bank Ltd.
58. KBC Bank N.V.
59. Karnataka Bank Ltd.
60. Karur Vysya Bank Ltd.
61. Krung Thai Bank Public Company Ltd.
62. Lakshmi Vilas Bank Ltd.
63. Maharashtra State Co-operative Bank Ltd.
64. Mashreq Bank p.s.c.
65. Morgan Guaranty Trust Co. of New York
66. Nedungadi Bank Ltd.
67. Oman International Bank S.A.O.G.
68. Oriental Bank of Commerce
69. Oversea-Chinese Banking Corporation Ltd.
70. Punjab National Bank
71. Punjab and Sind Bank
72. The Sakura Bank Ltd.
73. Sangli Bank Ltd.
74. Sanwa Bank Ltd.
75. Sarawat Co-operative Bank Ltd.
76. SBI Commercial and International Bank Ltd.
77. The Sian Commercial Bank Ltd.
78. Societe Generale
79. Sonali Bank
80. South Indian Bank Ltd.
81. Standard Chartered Bank
82. State Bank of Bikaner and Jaipur
83. State Bank of Hyderabad
84. State Bank of India
85. State Bank of Indore
86. State of Bank of Mauritius Ltd.
87. State Bank of Mysore
88. State Bank of Patiala
89. State Bank of Saurashtra
90. State Bank of Travancore
91. The Sumitomo Bank Ltd.
92. Syndicate Bank
93. Tamlinad Mercantile Bank Ltd.
94. Thomas Cook (India) Ltd.
95. Times Bank Ltd.
96. The Toronto Dominion Bank
97. UCO Bank
98. Union Bank of India
99. United Bank of India
100. United Western Bank Ltd.
101. UTI Bank Ltd.
102. Vijaya Bank
103. Vysya Bank Ltd.
COMPARATIVE
STUDY
OF
STATE BANK OF INDIA
AND
ICICI BANK
SERVICES PROVIDED BY STATE BANK
OF INDIA
1. NRI ACCOUNT
We facilitate opening of NRI accounts in India at any State Bank of India branch of
your choice. You need to fill up the account opening form which we shall forward
along with other documents to the Branch in India where you want to open the
account. The said Branch, after opening the account, will provide you the details of
your account, Deposit Certificate or cheque book/passbook, ATM card, Internet
banking ID and password depending on the type of account you open.
DOCUMENTS REQUIRED TO OPEN THE ACCOUNT

Passport / PIO card copy
Visa/residence permit
2 photographs
initial money remittance
2. REMITTANCES
Wherever you may be in the World, remitting money to

India couldn't be made easier. Remit funds to your own account or
accounts of your loved ones in India through our wide array of
remittance services. These remittances can be originated from different
time zones / countries in multiple currencies as mentioned below:
Normal Time
Remittance Services
Taken
SBI Rupee Instant Flash from associated Exchange Houses or Banks in Bahrain, Kuwait, Within 10
Oman, Qatar, Saudi Arabia and UAE minutes
SBI Rupee Instant from associated Exchange Houses or Banks in Bahrain, Kuwait, Oman,
Within 2 hours
Qatar, Saudi Arabia and UAE
SBI Express Rupee from associated Exchange Houses or Banks in Bahrain, Kuwait, Oman, Within 1 to 2
Qatar, Saudi Arabia and UAE days
Online Remittances:
SBI Express Remit UK for customers based out of United Kingdom Within 1 to 3
SBI Express Remit Canada for customers based out of Canada days
SBI Express Worldwide for customers based out of 39 selected countries except USA
Instant Transfer from SBI offices in Australia, Bahrain, Belgium, Canada, China, France, Hong
Within 1 day
Kong, Israel, Japan, Maldives, Mauritius, Nepal, Oman, Singapore, South Africa and UK
Within 1 to 3
SWIFT or Wire Transfer
days
Within 7 days
Draft, Cheque and International Money Order
to 28 days
3. ACCOUNTS / DEPOSITS
Your earnings abroad can earn attractive returns back home. Select from
our range of accounts, with flexibility to maintain savings in Indian or foreign
currency, offering tax free interest income in India and other benefits. The
comparison of different types of accounts and deposits is given below.
Please choose your Account / Deposit using right navigation links, to know more.
Accounts NRE NRO FCNR (B) RFC
To park funds To park funds,

To park funds
To park funds remitted from in foreign
for returning
Purpose of remitted from overseas to currency,
Indians (for
account overseas to India or funds remitted from
permanent
India from Indian overseas to
settlement)
sources India
USD, GBP,
USD, GBP,
Currency Rupees Rupees EURO, CAD,
EURO
JPY, AUD
Savings,
Savings,
Current, Fixed
Types of Current, Fixed Fixed Deposits Fixed Deposits
Deposits
account Deposits (TDR/ (TDR/STDR) (TDR/ STDR)
(TDR/STDR)
STDR) and RD
and RD
Investment Min: 1 Year Min: 7 Days Min: 1 Year Min: 1 Year

Term Max: 10 Years Max: 10 Years Max: 5 Years Max: 3 Years
Savings, Current: Nil

Initial funding
RD: Rs. 100
for opening TDR, STDR: Rs. 1000
USD 1000
Savings, Current: Nil
GBP 1000
RD: Rs. 100 USD 1000
EURO
TDR, STDR: GBP 1000
1000
o For Personal Banking EURO
CAD 1000
Branches in: 1000
Minimum JPY 1000
Metro / Urban centres: Rs.
Balance AUD 1000
1 lakh
Semi-Urban / Rural
centres: Rs. 50,000
o For all other Branches: Rs.
1000
NRIs NRIs NRIs Only with any

Joint Holding
Resident Resident Resident
with person who is
Indians on Indians on Indians on
Former or Former or Former or eligible to open
Survivor Survivor Survivor an RFC
basis basis basis
Current income
Repatriability of Freely up to USD 1 Freely Freely
Principal Repatriable million Repatriable Repatriable
(Conditional)
Freely
Repatriable
Repatriability of Freely Freely Freely
subject to
Interest Repatriable Repatriable Repatriable
deduction of
tax
Interest income
is taxed as per
Interest income
India Income
tax free in India
Taxability in Interest income Tax Rules. Interest income
till account
India tax free in India Reduced tax tax free in India
holders status
under Double
changes
Tax Avoidance
Agreement
4. INVESTMENTS
India is one of the fastest growing economies and is a lucrative investment
destination. The country has undergone a paradigm shift. There have been
several encouraging developments in the economy and government policies,
thereby improving outlook on business and industry.
To help you reap the benefits of Indias growth story, we offer diversified
investment opportunities to suit your risk appetite and future needs. Please choose investment
type using right navigation links, to know more.
5. NRI FAMILY CARD

You have always been there for your family, taking care of their every
need. With NRI Family Card you can continue to take care of them. Its
a cash-free, hassle-free, worry-free way of sending money to your loved
ones. Making sure that whenever your family needs money, you are
always there!
It is a prepaid card for use in India, which is issued to resident Indian (family member
or dependent or beneficiary or any acquaintance of NRIs in India). Using this card, the
card holder in India can now easily receive the remittances, by way of periodic re-
charging the amount in this card by NRE or NRO account holder through his/her INB
account. The card can be used for cash withdrawal through ATMs, for online payment
on the Net or for making payment at point of sale in malls etc.
Eligibility:
Resident Indian (family member or dependent or beneficiary or any acquaintance of

NRIs in India) can apply for this card. Applicant has to fill an application and needs to
submit it in SBI branch along with one Identity and Address proof for KYC
purposes. Click here to download NRI Family Card application.
If Personalized Card (i.e. bearing the name of the applicant) has been opted, then
card has to be collected from the branch after approximately 12 working days from
the date of submitting the application in the branch.
If it is a Non-Personalized card, then branch will deliver the card to applicant at the
branch itself instantly.
Card usage process:
Card applicant will take card from SBI branch

Card holder has to inform card number to NRE / NRO account holder
NRE / NRO account holder will map the card to his/her NRE / NRO Savings bank
account through Internet Banking (INB) facility, as per following steps:
o Go to Internet banking account
o Click on e-Cards in the menu bar
o Click on Prepaid Card on the left hand side panel
o Click on Register Prepaid Card and enter the card number
Once the card is registered, then recharge the card can through INB account as
and when needed, as per following steps:
o Click on Top up Prepaid Card and enter the amount
Card holder will get SMS alert and Email alert on the recharge as well as on every
spend. Thereafter, card is ready to be used at ATM / POS / Online shopping.
Key Features:
Card is valid for 10 years from the date of issue

Minimum recharge amount is Rs. 100/-
Maximum recharge amount is Rs. 50,000/-
Maximum balance in the card is Rs. 50,000/-
Regular SMS and Email alerts on every recharge done or spend done using the
card
Balance enquiry and view/download statement of card can be seen through the
following link online: https://prepaid.onlinesbi.com
NRE / NRO account holder can also do the balance enquiry online after logging
into their Internet Banking Account. The procedure is mentioned below:
o Click on Prepaid Card Details and select the card
Charge Structure:
Card Issuance Charge Rs. 105/-
Top up / Reloading Charge Rs. 10
Replacement Card/ Duplicate Pin Rs. 105/-
Usage of Card at State Bank Group

Nil
ATMs or at POS/e-Commerce
Financial Transaction: Rs. 20/- per

transaction
Usage of Card at other Bank ATMs Non-Financial Transaction: Rs. 9/-
per transaction
6. LOANS
We offer several loan products to help you buy a home or car for your family back
in India and also loan against your deposit with us to tide over unforeseen financial
needs. You can leverage your future income, existing assets, and deposits as
security for the loan.
Please choose loan type using right navigation links, to know more.
NRI Home Loan
HOME LOAN PRODUCTS

ELIGIBILITY CRITERIA
FEATURES
PROCESSING FEE
BANK'S APPROVED PROJECTS
DOCUMENTATION
Home Loan Products:
(a) SBI NRI Home Loan
Loan for purchase of flat / plot after the property has been finalized
(b) SBI Maxgain (Home loan as an overdraft)
The loan is sanctioned as an Overdraft with added flexibility to operate the Home Loan
Account like Savings Bank or Current Account. Cheque Book and Internet Banking facility is
also provided
You may park your surplus funds / savings in Maxgain account, with an option to withdraw
funds whenever required
(c) SBI Realty
For purchase of a plot for construction of house

The construction of house should commence within 2 years from the date of availing of loan
You will also be eligible to avail another Home Loan for construction of house on the plot
financed under the SBI Realty with the benefit of running both the loans concurrently
(d) SBI PAL (Pre-Approved Loan)
Sanction of Home Loan limits before finalization of the property

Loan eligibility will be assessed on the basis of income details
Pre-approved loan arrangement letter (PLAL) will be valid for a period of 4 months.
Pre-approved loan arrangement letter (PLAL) will carry the eligible loan amount calculated
on the basis of prevailing interest rates
Eligibility Criteria:
Minimum age should be 18 years with regular sources of income (clubbing of income of co-
borrowers / guarantors and expected rent accruals on proposed property is permitted subject
to certain conditions)
Valid Passport
Employed abroad for at least 2 years or a valid job contract for a minimum period of 2 years
abroad but has completed 6 months of employment or working abroad on assignments with
foreign Governments / government agencies or International / Regional Agencies like the
UNO, IMF, World Bank etc. or Central Government, State Government or Public Sector
Undertakings, officials deputed abroad on temporary assignments or posted to their offices
(including Indian Diplomatic Missions) abroad
Existing NRE / NRO account holder with SBI
Features:
a) Purpose
For purchase of residential plot for construction of house

For purchase / construction of flat / house
For repair or renovation of existing house / flat
For investment made from own resources during the preceding 12 months for purchase of
property/ construction / repairs / extension of house
b) Loan Amount
Minimum Loan Amount:
For NRI Home Loan: Rs. 3 lacs

For Maxgain: Rs. 20 lacs
For Realty: Rs. 3 lacs
For PAL: Rs. 10 lacs
Maximum Loan Amount:
For Realty: Rs. 10 crores
For NRI Home Loan, Maxgain & PAL: On the basis of LTV (Loan to value) ratio as per
following
LTV ratio for Non-Salaried

LTV ratio for Salaried
Home Loan Amount Applicants (Businessmen /
applicants
Professionals / Self Employed)
Up to Rs. 75 lacs 80% 75%
Above Rs. 75 lacs 75% 70%
c) Moratorium Maximum of 48 months

d) Repayment
For NRI Home Loan, Maxgain & PAL: Maximum 30 years or up to the age of 70 years,
whichever is early
For Realty: Up to 15 years
Aggregate repayment should not exceed 50% of NMI / NAI
e) Mode of Repayment
Repayment in EMIs (Equated Monthly Installments)

Remittances from abroad through normal banking channels
Funds transfer from NRE / FCNR (B) / NRO accounts
Remittance from local funds by close relatives
f) Interest Rates
g) Place of availing loan - You may avail loan from our any of the branch as per
following:
At the place of the proposed property / construction

At a centre where NRI customers is already having ongoing relationship with one of our
Branches
At the place of residence of India based Power of Attorney Holder or co-borrower/guarantors, if
any.
h) Penalty for pre-closure of home loan - Nil
Fees
a) Processing fee as per following:
Loan Amount Processing Fee
0.25% of loan amount, minimum Rs.

Up to Rs. 25 Lacs
1,000/-
Above Rs. 25 Lacs & up to Rs. 75 Lacs Rs. 6,500/-

Above Rs. 75 Lacs Rs. 10,000/-
b) Other charges (on actual basis) as per following:
For Pre-sanction:-
o Advocate's fee for property search and the title investigation report
o Valuer's fee for valuation report
For Post-sanction:-
o Stamp duty payable for Loan agreement & mortgage
o Property insurance premium
o CERSAI Registration Fee of Rs 250/- up to Rs 5 lacs limit and Rs 500 for limits above Rs 5
lacs. Service tax will be charged over and above it.
Documentation
a) Home Loan Application. Please click here to download the application.
b) Two passport size photographs
c) Power of attorney (POA), if required. It can be given to close relatives namely Spouse, Father,
Mother, Brother, Sister, Children, Father-in-law and
Mother-in-law.
d) Applicants documents as per following:
i. Identity and Address Proofs as per following :
Status Identity Proofs Overseas Address Proof
Both mandatory: Anyone of the following:
1. Copy of relevant 1. Utility Bill (Electricity,

NRI
pages of Passport Telephone, Gas)
2. Copy of visa / 2. Driving License issued
work permit abroad
3. Government issued
Both mandatory: National Identity Card or
Labour Card, or Social Card
1. Copy of relevant at the country of residence
pages of Passport 4. Original copy of latest
PIO overseas bank account
2. Copy of PIO Card
issued by showing overseas address
Government of
India
Please note:
1. Non-Salaried Applicants (Businessmen / Professionals / Self Employed) also needs to

submit address proof of their office / business in addition to residence address as
mentioned above. Address proof of office / business has to as per above listed
documents only.
2. Identity and address proofs of resident Indian co-borrower or POA holder (if applicable)
will also be required in addition to the applicants proofs, for the KYC
3. In case you are not visiting to our branch in India, these proof needs to attested by any
of the below:
o SBI Foreign Office (please click here, to check whether office in your country is
permitted to attest)
o Notary Public
o Indian Embassy / High Commission
ii. Income Proof for each applicant as per following
Occupation type Documents required
Self-attested copy of following documents:
1. Employment contract/ appointment

letter/Offer letter or any other
document/agreement showing current
terms of employment
2. Salary certificate / slip for last
Salaried Applicants
3months
3. Bank account statement showing
salary credit for last six months
4. Duly acknowledged copy of last year
Individual Tax Return (NRIs/PIOs
located in Middle east countries or
employed in Merchant Navy are not
required to submit individual tax
return)
5. Copy of Continuous Discharge
Certificate (CDC) for applicants
employed in the Merchant Navy
Self-attested copy of following documents:
1. Audited / Chartered Accountant

certified Balance Sheet and P&L
accounts for last 2 years
2. Individual Tax Return except for last 2
Non-Salaried Applicants (Businessmen /
years (NRIs/PIOs located in Middle
Professionals / Self Employed) east countries are not required to
submit individual tax return)
3. Bank account statement of overseas
account in the name of individual as
well as company/unit for last six
months
e) Property related documents, as per following:
i. Property documents common to all

1. Agreement for sale (duly registered for states where applicable), construction
agreement
2. Copy of N.A. permission for the land from the collector
3. Copy of order under the Urban land Ceiling Act
4. Index II
5. Blueprint (Plan Copy) stamped by Municipal Authority
6. All Payment Receipts to builder/seller
7. Letter from the builder/society/Housing Board intimating their a/c number and name
of their bankers, for remittance of installments
8. Original of land tax paid receipt and possession certificate issued by the revenue
authorities
ii. If purchased from builder/development authority (new flats) -

1. Registered Development Agreement between the owner of land and the builder,
Power of attorney to the builder from land owner for sale of flats
2. Commencement certificate granted by Corporation / Nagar Palika
3. Letter of Allotment from Private builder/Housing Board/Society
4. NOC and Transfer Letter from development authority
5. NOC from private builder in Banks Standard format
6. Tripartite Agreement
7. If leased land then Registered Agreement of lease
iii. If purchased from registered society -
1. Letter of allotment from Society
2. A Copy of approved plan by the appropriate authority
3. Share Certificate in Original
4. Permission for construction
5. List of members submitted by society with Registrar of Societies duly acknowledged
6. Copy of Bye laws of society
7. Certificate of I.T. clearance
8. Certificate of registration
9. NOC to mortgage from the society
10. NOC from land allotting authority in case of lease hold property
11. Undertakings by Architect, Member, Power of attorney, Accepting deposit of
Original share certificate, accepting the bank as nominee; Resolution passed by the
Managing Committee
iv. If society not registered / originally allotted from development authority / resale flat -
1. Occupancy certificate and share certificate
2. Chain of Old Agreements in original with original receipt of registration (if any)
3. Original letter of allotment issued to the first owner by the development
authority/Builder (as applicable)
4. Original stamped receipts of payments issued to the previous and present owners
by the builder/development authority/society
5. Conveyance deed executed by the builder/development authority in favour of
society/seller
6. Transfer permission from the respective authority (development authority/society)
v. If construction on own land -

1. Detailed estimate from Chartered Engineer/Architect
f) Documents to be submitted at the time of documentation (Post sanction) and subsequent

disbursement/part disbursements (in case of home construction), as per following:
i. Requirement for home loan documentation

1. Sale Agreement and Construction Agreement (As applicable) in original
2. Originals of all other property documents (wherever applicable) which have been
submitted along with application form
3. Power of Attorney (For NRI, PIOs and defense personnel only) in original with 1
copy. (POA should be in SBI standard format)
4. Original Receipts for advance amount paid to the seller/builder and margin money
receipt
5. Up to date Encumbrance Certificate (wherever required)
6. Equitable mortgage charges (As applicable as per state Laws) in cash (to be
handed over to documentation officer only) towards stamping of recital
7. Indemnity Bond for deviation on Stamp paper -duly notarized. (Amount as
applicable for the state)
8. Stamp Charges:
Where franking facility is available Applicable stamp charges (as per state
law) in cash to be handed over to Documentation Officer only
Where franking is not available Stamp papers for the applicable amount (As
per state law) to be produced
9. Repayment arrangements:
SBI Customer: Standing Instruction letter or postdated cheques
Others: ECS Mandate signed by other bank or postdated cheques
10. For Interim security, all the original documents to be produced and the title deed
holder/s to be present along with the borrower
ii. Requirement for home loan disbursement

1. Borrowers Consent letter (in banks format) quoting account no., amount to be
debited, payment in favour of, and signed by all co-borrowers
2. Stage wise builders demand letter/ engineer/Architects certificate confirming the
stage of construction
3. Index II
4. Receipts for money disbursed earlier (in original for part disbursements)
5. Receipt of Advance money/Margin money paid in original
6. For takeover Loans from other banks, latest outstanding balance letter to be
produced for disbursement
SERVICES PROVIDED BY ICICI BANK
Service Charges
Minimum Average Balance Requirement from 1st June 2016

Easy NRI a/cs NRI Regular NRI Pro NRI Premia
INR
Minimum
INR 2000 at INR 10,000 at INR 1,00,000 at 5,00,000
Monthly average
account level account level CASA level at CASA
balance#(MAB)
level
INR 100 +
##
Charges for non 1% of the
INR 100 + 5% of INR 100 + 2% of
maintenance of shortfall
the shortfall in the shortfall in
INR 100 + 5% of in
minimum required MAB required MAB
the shortfall required
Monthly average or INR 500 or INR 500
in required MAB MAB or
balance whichever is whichever is
INR 500
lower lower
(NMMAB) whicheve
r is lower
Charges if Subject to total Subject

Subject to total
Waiver of non- applicable would monthly to total
monthly average
maintenance of be waived off average balance monthly
balance of min
MAB charges provided the of min INR average
INR 5,00,000 at
customer remits 25,000 at balance
Customer ID
a cumulative Customer ID of min
Easy NRI a/cs NRI Regular NRI Pro NRI Premia
sum of INR level. level. INR

20,000 or more 25,00,000
in the last 3 at
months in the Custome
account. For r ID
more than 1 level.
account in a
Cust Id, the
above
remittance
criteria will have
to be met by all
accounts under
the Cust Id
individually
#
Minimum balance requirement:
Account level: Minimum average balance maintained in each Saving/Non-interest bearing account
under same Customer ID.
CASA level: Cumulative minimum average balance in all Saving/Non-interest bearing accounts under
same customer ID.
Customer ID level: Monthly average balance in NRE Savings / Non interest bearing account + Monthly
average balance in NRO Savings / Non interest bearing account + Month end balance in Fixed
deposit/s and Recurring deposit/s within the same customer ID.
Minimum Average Balance Requirement upto 31st May 2016

NRI
Easy NRI a/cs NRI Regular NRI Pro Premi
a
INR
Minimum Monthly 5,00,0
INR 2000 at INR 10,000 at INR 1,00,000 at
average 00 at
account level account level CASA level
balance#(MAB) CASA
level
Charges## for non If MAB is INR 1,000 MAB between MAB between MAB
NRI
a
maintenance of or more but below INR 5,000 to INR INR 50,000 to betwe
minimum Monthly INR 2,000, charge 10,000: INR 350 INR 1,00,000: en
average balance of INR 250 per per month INR 50 per INR
month will be
(NMMAB) MAB Less month 4,00,0
levied
than INR 5,000: MAB between 00 to
If MAB falls below
INR 1,000, charge INR 450 per INR 25,000 to INR
of INR 350 per month INR 50,000: 5,00,0
month will be INR 100 per 00:
levied month INR
MAB between 50 per
INR 10,000 to mont
INR 25,000: h
INR 200 per MAB
month betwe
MAB between en
INR 5,000 to INR
INR 10,000: INR 3,00,0
350 per month 00 to
MAB Less INR
than INR 5,000: 4,00,0
INR 450 per 00:
month INR
100
per
mont
h
MAB
betwe
en
INR
1,00,0
00 to
INR
3,00,0
00:
INR
200
per
mont
h
MAB
betwe
NRI
a
en
INR
50,00
0 to
INR
1,00,0
00:
INR
350
per
mont
h
MAB
Less
than
INR
50,00
0: INR
450
per
mont
h
Charges if Subje
applicable would ct to
be waived off total
provided the mont
customer remits a hly
cumulative sum of Subject to total averag
Subject to total
INR 20,000 or monthly e
monthly average
Waiver of non- more in the last 3 average balance balan
balance of min
maintenance of months in the of min INR ce of
INR 25,000 at
MAB charges account. For more 5,00,000 at min
Customer ID
than 1 account in a Customer ID INR
level.
Cust Id, the above level. 25,00,
remittance criteria 000 at
will have to be met Custo
by all accounts mer
under the Cust Id ID
individually level.
NRI
a
Minimum balance requirement:

#
Account level: Minimum average balance maintained in each Saving/Non-interest bearing account under
same Customer ID.
CASA level: Cumulative minimum average balance in all Saving/Non-interest bearing accounts under same
customer ID.
Customer ID level: Monthly average balance in NRE Savings / Non interest bearing account + Monthly
average balance in NRO Savings / Non interest bearing account + Month end balance in Fixed deposit/s
and Recurring deposit/s within the same customer ID.
## Service Tax applicable
Other charges:
Charges
Particulars
Easy NRI a/cs NRI Regular NRI PRO NRI PREMIA
Charges for cash transactions
Cash transactions at
NIL NIL NIL NIL
base branch
Cash Withdrawals by
customer or customers
representative to the
NIL NIL NIL NIL
debit of the customers
own Savings Account at
a non-base branch
Cash deposit by
customer or customers
representative to the
NIL NIL NIL NIL
credit of the customers
own Savings Account at
a non-base branch
Charges
Particulars
Charges for transactions at ATMs
Nil for first five

transactions
(inclusive of
financial and non
financial
transactions) in a
month. Thereafter,
Nil for first five INR 20 (inclusive
transactions (inclusive of of service tax) per
financial and non financial financial
transactions) in a month. transaction and
Thereafter, INR 20 INR 8.50
(inclusive of service tax) (exclusive of
per financial transaction service tax) per
and INR 8.50 (exclusive of non financial
ATM Interchange service tax) per non transaction
(Transactions at financial transaction W.e.f.
NIL NIL
Non ICICI Bank Jan 1, 2015 Nil for first five W.e.f. Jan 1, 2015
ATMs in India) transactions (inclusive of Nil for first five
financial and non financial transactions
transactions) in a month. (inclusive of
Thereafter, INR 20 financial and non
(exclusive of service tax) financial
per financial transaction transactions) in a
and INR 8.50 (exclusive of month. Thereafter,
service tax) per non INR 20 (exclusive
financial transaction of service tax) per
financial
transaction and
INR 8.50
(exclusive of
service tax) per
non financial
transaction
Charges
Particulars
Transactions at
ICICI Bank ATMs NIL NIL NIL NIL
in India
INR 125
per cash
withdra
wal
(financi INR 125 per
al cash
transact withdrawal
INR 125 per cash ion) at (financial
withdrawal ATM transaction)
INR 125 per cash (financial overseas at ATM
withdrawal (financial transaction) at & INR overseas &
transaction) at ATM ATM overseas & 25 per INR 25 per
Transactions at overseas & INR 25 per INR 25 per balance balance balance
overseas ATMs balance inquiry, PIN inquiry, PIN inquiry, inquiry, PIN
change and mini statement change and mini PIN change and
(non-financial transaction) statement (non- change mini
at ATM overseas. financial and statement
transaction) at mini (non-
ATM overseas. stateme financial
nt (non- transaction)
financial at ATM
transact overseas.
ion) at
ATM
overseas
.
For purchase and

ATM transactions Convers
Conversion
outside India at Conversion charge ion
Conversion charge of 3.5% charge of
all VISA enabled of 3.5% charge
3.5%
POS and ATM of 3.5%
Machines
Charges
Particulars
Statement charges
Free
Free quarterly Free quarterly Free quarterly
quarterly
statement statement statement
statement
Statement
Free monthly Free monthly
Free monthly e- Free monthly e-
e-mail e-mail
mail statement mail statement
statement statement
INR 100 per INR 100 per

Issue of Duplicate statement at statement at
NIL NIL
Statement branch or branch or
Customer Care Customer Care
DD/PO Charges
INR 4 per INR 4 per

thousand rupees thousand rupees
or part thereof, or part thereof,
DD - Issue by
subject to a subject to a NIL NIL
deposit of cash
minimum of INR minimum of INR
100 and maximum 100 and maximum
of INR 15000 of INR 15000
DD -
Cancellation / INR 100
INR 100 per DD INR 100 per DD INR 100 per DD
Duplicate / per DD
Revalidation
INR 50 per D.D. INR 50 per D.D.

Issue of DD
up to INR 10,000; up to INR 10,000;
drawn on ICICI NIL NIL
INR 3 per INR 3 per
Bank by
thousand rupees thousand rupees
cheque/transfe
or part thereof for or part thereof for
Charges
Particulars
r DD of more than DD of more than

INR 10,000, INR 10,000,
subject to a subject to a
of INR 15,000 of INR 15,000
INR 75 for PO of INR 75 for PO of

up to INR 10,000; up to INR 10,000;
For PO above INR For PO above INR
10,000 INR 2.50 10,000 INR 2.50
per thousand per thousand
PO - Issue NIL NIL
rupees or part rupees or part
thereof, subject to thereof, subject to
a minimum of INR a minimum of INR
INR 150 per PO for INR 150 per PO for

amounts up to amounts up to
INR 50,000 For PO INR 50,000
above INR 50,000 For PO above INR
INR 4 per 50,000 INR 4 per
PO - Issue by
thousand rupees thousand rupees NIL NIL
deposit of cash
or part thereof, or part thereof,
subject to a subject to a
PO -
Cancellation / INR 100
INR 100 per PO INR 100 per PO INR 100 per PO
Duplicate / per PO
Revalidation
NEFT / RTGS charges

Charges
Particulars
NEFT Charges -
NIL NIL NIL NIL
Inward
Upto INR 10,000

INR 2.5 per
Upto INR 10,000 INR 2.5 transaction.
per transaction. INR 10.001 INR 10.001 to INR 1
to INR 1 lakh INR 5 per lakh INR 5 per
NEFT Charges transaction. INR 1 lakh to transaction.
NIL NIL
Outward INR 2 lakhs INR 15 per INR 1 lakh to INR
transaction. Above INR 2 2 lakhs INR 15
lakhs - INR 25 per per transaction.
transaction. Above INR 2 lakhs
- INR 25 per
transaction.
INR 2 lakh to INR

INR 2 lakh to INR 5 lakh 5 lakh INR 25 per
INR 25 per transaction. transaction.
RTGS - Outward NIL NIL
INR 5 lakh and above INR 5 lakh and
INR 50 per transaction above INR 50 per
transaction
RTGS - Inward NIL NIL NIL NIL
EFT Charges
EFT Charges-
NIL NIL NIL NIL
inward
EFT Charges-
NIL NIL NIL NIL
outward
ECS charges
Charges
Particulars
INR
350
per
INR 350 per
INR 350 per return return
ECS Debit INR 350 per return for return for
for financial for
Returns financial reasons financial
reasons financ
reasons
ial
reaso
ns
ECS Credit
NIL NIL NIL NIL
Returns
Charges for
certifying or
verifying NIL NIL NIL NIL
customer
mandates
Cheque
NIL NIL NIL NIL
Collection Local
Charges for Cheque Returns
INR 100
INR 100 for
for every
every
Local cheque INR 100 for every cheque
INR 100 for every cheque cheque
deposited by cheque return for return
return for financial reasons return for
customer financial reasons for
financial
financial
reasons
reasons
Cheque issued by INR 350 for one cheque INR 350 for one INR 350 INR 350 for
customer return per month; cheque return per for one one cheque
Thereafter, INR 750 per month; cheque return per
Charges
Particulars
return in the same month Thereafter, INR return month;

for financial reasons; INR 750 per return in per Thereafter,
50 for non-financial the same month month; INR 750
reasons except for for financial Thereafte per return
signature verification reasons; INR 50 r, INR in the same
Transfer cheque returns for non-financial 750 per month for
will be charged at INR 350 reasons except for return in financial
per return for financial signature the same reasons;
reasons. verification month INR 50 for
Transfer cheque for non-
returns will be financial financial
charged at INR 350 reasons ; reasons
per return for INR 50 except for
financial reasons. for non- signature
financial verification
reasons Transfer
except cheque
for returns will
signature be charged
verificati at INR 350
on per return
Transfer for
cheque financial
returns reasons.
will be
charged
at INR
350 per
return
for
financial
reasons.
INR 150 INR 150

Outstation INR 150 plus other bank INR 150 plus other
plus plus other
cheque deposited charges at actuals per bank charges at
other bank
by customer cheque actuals per cheque bank charges at
charges actuals per
Charges
Particulars
at actuals cheque
per
cheque
INR 100
plus INR 100
other plus other
banks banks
INR 100 plus other
INR 100 plus other banks charges charges at
banks charges at
Outward Return charges at actuals for every at actuals actuals for
actuals for every
Charges Local cheque return for financial for every every
cheque return for
reasons cheque cheque
financial reasons
return return for
for financial
financial reasons
reasons
INR 150
plus
INR 150
other
plus other
INR 150 plus other bank
INR 150 plus other bank bank
Outward Return bank charges at charges
charges at actuals per charges at
Charges actuals per cheque at actuals
cheque for financial actuals per
Upcountry for financial per
reasons. cheque for
reasons. cheque
financial
for
reasons.
financial
reasons.
Debit Card Charges
Enrolme
NIL NIL NIL NIL
nt fee
Annual Silver INR 199+ST Si Silver NIL

INR Silv N
Debit lv
Charges
Particulars
Card Fee er 199+ST er IL

for First
Account
Pl
Holder/
at Plat
Joint Platin INR Platin N
INR 299+ST in NIL inu
Account um 299+ST um IL
u m
Holder
m
W INR
INR Wor N
World INR 399+ST or World 399
399+ST ld IL
ld +ST
Replace
ment
Card fees INR
INR 375 INR 375 NIL
(Lost / 375
Damaged
card)
At
HPCL At HPCL At HPCL
At HPCL outlets:
outle outlets: outlets:
ts:
NIL
Surcharg for
e on Fuel NIL for
transa NIL for
purchase transactions
ctions transactions
s above INR 400;
above above INR 400; NIL for transactions above INR 400;
2.5% subject to
INR 2.5% subject to a 2.5% subject to a minimum of INR 2
a minimum of
400; minimum of INR for transactions up to INR 400
INR 2 for
2.5% 2 for transactions
transactions up
subjec up to INR 400
t to a to INR 400
mini
mum
Charges
Particulars
of INR
2 for
transa
ctions
up to
INR
400
At
non-
At non-HPCL At non-HPCL
HPCL At non-HPCL outlets:
outlets: outlets:
outle
ts:
2.5 %
of
purch
2.5 % of
ase or 2.5 % of purchase
purchase or
INR 10 or INR 10 per
2.5 % of purchase or INR 10 per INR 10 per
per transaction,
transaction, whichever is higher transaction,
transa whichever is
whichever is
ction, higher
higher
which
ever is
higher
Debit
Card PIN
re-
NIL NIL NIL NIL
generatio
n
Charges
Decline INR INR 25 per INR 25 per

of 25 per INR 25 per transaction
transaction transaction
transacti transa
Charges
Particulars
on at any ction
ATM or
point of
sale
(POS)
due to
insufficie
nt
balance
in the
account
INR
Debit 100
INR 100 per INR 100 per
Card de - per INR 100 per request
request request
hotlisting reque
st
Standing Instructions
On
ly
out
of
po
INR 150 per INR 150 per cke
INR 150 per standing
Setting-up-charge standing standing t
instruction
instruction instruction (O
oP)
ex
pe
nse
s
Amendment INR 25 per INR 25 per NI

INR 25 per amendment
charge amendment amendment L
Charges
Particulars
As
per
re
mi
tta
nc
e,
plu
s
IN
As per R
Execution charge As per remittance,
As per remittance, plus remittance, plus 25
involving plus INR 25
INR 25 towards out-of - INR 25 towards to
payment through towards out-of -
pocket expenses out-of -pocket wa
DD/PO, etc. pocket expenses
expenses rds
out
-of
-
po
cke
t
ex
pe
nse
s
50
%
dis
Lockers co
Customers are un
Charges as 40% discount on
entitled for Charges as applicable t
applicable annual fee
discount only for on
the first year. an
nu
al
fee
Charges
Particulars
Deliverable Charges
i. Reissue of ATM /
NI
Debit Card and INR 375 INR 375 INR 375
L
Pins
ii. Reissue of
NI
Internet Banking INR 375 INR 375 INR 375
L
User ID
iii. Reissue of
NI
Internet Banking INR 375 INR 375 INR 375
L
passwords
iv. Reissue of NI
INR 375 INR 375 INR 375
Cheque Book L
Miscellaneous charges
INR 50 per
INR 50 per certificate for certificate for
NI
balance in Savings Account balance in Savings NIL
L
and Fixed Deposit Account Account and Fixed
Deposit Account
Balance INR 100 per

Certificate certificate for
INR 100 per certificate for
balance in INR
balance in INR and the
and the equivalent NI
equivalent amount in USD NIL
amount in USD in L
in Savings Account and
Savings Account
Fixed Deposit Account
and Fixed Deposit
Account
Charges
Particulars
INR 50 per
INR 50 per certificate for certificate for
Interest NI
more than one copy for a more than one NIL
Certificate L
financial year copy for a
financial year
NI
L
for
clo
sur
e
wit
hin
30
da
ys
NIL for closure NIL for closure of
within 30 days of within 30 days of acc
NIL for closure within 30
account opening, account opening, ou
days of account opening,
INR 500 for INR 500 for nt
INR 500 for closure during
Account closure closure during 31 closure during 31 op
31 days to one year, NIL
days to one year, days to one year, eni
after one year of account
NIL after one year NIL after one ng,
opening IN
of account year of account
opening opening R
50
0
for
clo
sur
e
du
rin
g
31
da
ys
Charges
Particulars
to
on
e
yea
r,
NI
L
aft
er
on
e
yea
r of
acc
ou
nt
op
eni
ng
Upto 1 year old :

Retrival of old Upto 1 year old :
Upto 1 year old : INR 50 INR 50 per
transactional INR 50 per record ;
per record ; More than 1 record; More NI
documents / More than 1 year
year old : INR 100 per than 1 year old : L
Enquiries related old : INR 100 per
record. INR 100 per
to old records record.
record.
Use of INR 100 or actuals,

INR 100 or actuals, NI
Fax/Telephone/M whichever is NIL
whichever is higher L
odem higher
IN
R
INR 100 per INR 100 per INR 100 per
Photo attestation 100
application/letter application/letter application/letter per
ap
pli
Charges
Particulars
cat
ion
/le
tte
r
IN
R
50
per
ap
Signature INR 50 per INR 50 per INR 50 per
pli
attestation application/letter application/letter application/letter
cat
ion
/le
tte
r
Address NI
INR 50 per request INR 50 per request NIL
confirmation L
Inoperative NI
NIL NIL NIL
account L
A charge of INR 100 will be A charge of INR

levied. The charge will be 100 will be levied.
INR 300 in case the deposit The charge will be
amount is above INR 500. INR 300 in case
Penalty on Repeat instances of cash the deposit
NI
Deposit of cash in deposits through cheque amount is above NIL
drop box will attract an INR 500. Repeat L
collector box
enhanced charge of INR instances of cash
500 for any amount. For deposits through
any other exceptional cheque drop box
transactions which are not will attract an
part of the services offered enhanced charge
Charges
Particulars
by ICICI Bank, a charge of INR 500 for any

will be levied as specified amount. For any
by the bank from time to other exceptional
time. transactions which
are not part of the
services offered by
ICICI Bank, a
charge will be
levied as specified
by the bank from
time to time.
INR 50 per
INR 50 per cheque
cheque and INR
and INR 100 for
100 for range of
INR 50 per cheque and range of cheques
cheques covered
INR 100 for range of covered in single
in single
cheques covered in single mandate. No
mandate. No
Stop Payment mandate. No charge is charge is levied if NI
charge is levied if
charges levied if stop payment stop payment L
stop payment
request is made through request is made
request is made
Internet Banking and through Internet
through Internet
Customer Care (IVR). Banking and
Banking and
Customer Care
Customer Care
(IVR).
(IVR).
IN
R
50
INR 50 for INR 50 for for
Lien marking and INR 50 for marking of lien ;
marking of lien ; marking of lien ; ma
unmarking of INR 50 for unmarking of
INR 50 for INR 50 for rki
savings account lien ng
unmarking of lien unmarking of lien
of
lie
n;
IN
Charges
Particulars
R
50
for
un
ma
rki
ng
of
lie
n
Reissue of
Internet user id
IN
or password (
INR 375 INR 375 INR 375 R
through Branch
375
or non IVR
Customer Care)
Fre
e,
pa
Free, payable-at- Free, payable-at- ya
Cheque Books Free, payable-at-par
par par ble
-
at-
par
Multicity cheque NI
NIL NIL NIL
payment L
Outstation Upto INR 5,000 INR 25 Upto INR 5,000

cheque collection per instrument. INR 5,001 INR 25 per
NI
through ICICI to INR 10,000 INR 50 per instrument. INR NIL
instrument. INR 10,001 to 5,001 to INR 10,000 L
Bank branch
locations INR 1 lakh INR 100 per INR 50 per
instrument. Above INR 1 instrument. INR
Charges
Particulars
lakh - INR 200 per 10,001 to INR 1

instrument lakh INR 100 per
instrument. Above
INR 1 lakh - INR
200 per
instrument
Upto INR 5,000

INR 25 per
Upto INR 5,000 INR 25 instrument. INR
per instrument. INR 5,001 5,001 to INR 10,000
Outstation
to INR 10,000 INR 50 per INR 50 per
cheque collection
instrument. INR 10,001 to instrument. INR NI
through non NIL
INR 1 lakh INR 100 per 10,001 to INR 1 L
ICICI Bank
instrument. Above INR 1 lakh INR 100 per
branch locations
lakh - INR 200 per instrument. Above
instrument INR 1 lakh - INR
200 per
instrument
NI
L
on
req
ues
t at
NIL on request at NIL on request at bas
NIL on request at base
base branch where base branch e
Issue of pass book branch where account is
account is where account is bra
maintained nc
maintained maintained
h
wh
ere
acc
ou
nt
is
Charges
Particulars
ma
int
ain
ed
Issue of duplicate NI
NIL NIL NIL
pass book L
INR 125 for

INR 125 for cheque
Issue of loose INR 125 for cheque book of cheque book of 5 Fre
book of 5 leaves
cheque leaves 5 leaves (INR 25 per leaf) leaves (INR 25 e
(INR 25 per leaf)
per leaf)
Note: Effective June 1, 2016 the effective Service tax rate is increased to 15% -comprising of service tax at
14% plus Swachh Bharat Cess (SBC) of 0.5% plus a new levy Krishi Kalyan Cess (KKC) of 0.5%.
Please note that service tax is applicable on all transactions wherever currency conversion is involved on
slab basis as per Notification No. 26/2011 Service Tax, dated March 31, 2011. Effective June 1, 2015 vide
notification no. 14/2015, the service tax rates have been further revised and effective November 15, 2015
vide Notification no. 25/2015 Swachh Bharat Cess(SBC) has been applied. As per amendments in Budget
2016, a new levy Krishi Kalyan Cess (KKC) of 0.5% has been added in the existing Service tax. Accordingly,
revised service tax, Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC) will be applicable on all
transactions.
With effect from April 1, 2015: In the event of non-maintenance of minimum MAB, the bank will notify the
customer by E-mail/letter etc. that in the event of the minimum balance not being restored in the account in
the subsequent month, non-maintenance of MAB charges will be applicable.
In case the customer has not maintained MAB for any consecutive month, non-maintenance of MAB charges
shall be applicable for all consecutive months. The Bank will notify the customer in the initial month only in
case of non-maintenance of MAB in consecutive months. It will be the responsibility of the customer to have
a valid e-mail ID and address updated with the Bank at all times, failing which, customer may not receive the
notification(s).
PRODUCTS BY ICICI BANK

1. NRI Home Loan
Key Highlights
Variety of products depending on your unique needs such as buying a house, building a house or purchasing
property in India, and more.
Speed and convenience online loan application as well as online tracking of application.
Overview
Want to buy or build a new home? Purchase land? Whatever be your unique need, ICICI Bank has a loan
product just for you.
Benefits
Attractive interest rates on a monthly reducing basis.

Choice from fixed and floating interest rates.
Partprepayment facility for zero fees.
Free personal accident insurance to the extent of loan outstanding.
Doorstep service in India till disbursement.
Eligibility
Age
You must be minimum 25 years old.

For NRI applicant, maximum age limit is 60 years or retirement age (whichever is earlier) at the time of loan
maturity.
Residential status
If salaried applicant, you should have been abroad for a minimum period of 1 year.
If self-employed applicant, you should have been abroad for a minimum period of 3 years.
Tenure & Minimum Qualification:
For Salaried- Loan tenure up to 10 years, minimum qualification to be Graduate/ Diploma. Loan tenure
between 11 to 15 years, for Middle east minimum qualification is Post Graduate/ professional degree.
Loan tenure 11 to 15 years, for USA and all other countries minimum qualification is Graduate/ Diploma with
minimum 3 years of employment abroad/ professional degree with min 1 year of employment abroad.
For Self-Employed- SSC or it's equivalent.
Maximum tenure: Maximum tenure for Home Loan and Home Improvement Loan is 20 yrs / Maximum tenure
for Land loan and Home equity loan-Residential is 10 yrs. No Office Premises Loan is allowed
Income:
Country/Employment
Salaried Self-Employed Merchant Navy
Type
USA & Other Countries 42000 USD 42000 USD 42000 USD
GCC 84000 AED* 48,000 AED 42000 USD
*72000 AED if accommodation is provided by Employer.

Amount mentioned above or equivalent.
Charges
Processing Fee : 0.5% of the loan amount + applicable Service Tax & Surcharge
Documents
Personal details documents
1 passport size latest photograph of each applicant (applicant & co-applicant) with signature across
Valid passport copies for all the applicants
Valid visa copies for all the applicants
Cheque / Draft in INR for fees (as per applicable rate) and the date must be in dd/mm/yyyy format*
Power of Attorney document as per our format duly signed by all the applicants
Authority letter duly signed by all the applicants as per our specified format
Company details as per our format
Copy of current overseas residential verification proof of all the applicants to the loan. (Driving license or
bank statement showing overseas address or latest insurance premium receipt or utility bill)
Copy of PAN Card for the Ist applicant OR Form 60 as per our format attached here with
Self attested address proof of all applicants
Financial details documents: for salaried individuals
Copy of current appointment letter OR Copy of salary certificate clearly mentioning the date of joining,
current salary earned and designation held in the company
Copy of previous appointment letters
Last 3 months salary slip for fixed salary and last 4 months for variable salary
Last 6 months bank statements clearly mentioning salary credits in the account
Financial details documents: for self employed individuals

Copy of
Incorporation of business
Income Proof -
o Middle East: Last 2 years audited/C.A certified P&L accounts.
o US & Canada: Last 2 years CPA compiled/reviewed/audited P&L accounts.
o Others: Last 2 years C.A or equivalent certified/audited P&L accounts.
Partnership deed (incase of a partnership firm)
MOA & AOA of the company (incase of a private ltd. company)
Last 6 months bank statements in the company's name
Last 6 months bank statements in individual's name
Business profile and office address proof
NRI Personal Guarantor documents

If you have opted for a NRI Personal Guarantor on your loan, arrange to send the following documents
Passport & visa copies of the NRI Guarantor

Current overseas address verification proof of the NRI Guarantor. (Driving license or bank statement
showing overseas address or latest insurance premium receipt or utility bill)
Current income documents of guarantor
Note:
Co-applicant's income can be considered for enhancing your loan eligibility or increasing your loan amount.
Please ensure that all financial documents of co-applicant(s) are attached with your India Home Loan
Application. In case, you have opted to not consider your co-applicant's income for loan eligibility, you may
send across the declaration form for your blood relative(s) / spouse coming in as co-applicant(s).
In case there is no co-applicant, an NRI Guarantor is required compulsorily along with his / her identity and
address proof.
Repayment
Under the RBI regulations, the repayment of the housing loan by NRIs can only be made by remittances
from abroad through normal banking channels or through NRE/NRO account or out of rental income derived
from the impugned property. The amount must be payable in Indian Rupees only.
Modes of Repayment
Before availing full disbursement of loan
Where you have availed only a part of the loan, you would be required to pay us only the interest on the
amount disbursed till the full loan is availed. This payment would have to be made every month-end. This
payment would have to be made by you by post-dated cheques.
After availing full disbursement of loan
After you avail full disbursement, you have the convenience of setting up a standing instruction in your bank
account with us, for monthly repayments of your home loan installments. For this, you need to execute
(Direct Debit) Mandate in our favor and also give us four postdated cheques from the account. For the format
of the (Direct Debit) mandate please click here.
Prepayment
You can make part-prepayments during the tenure of the loan at no cost. We would reduce the outstanding
balance of your loan to the extent of the prepayment made by you. The interest on your loan would therefore
be calculated only on the balance loan outstanding. This would help you in either reducing the tenure of the
loan or reducing the monthly installment that you would be paying.
Please Note: For full prepayment of the loan, however a 2%, preclosure charge would be levied on the
outstanding amount and whatever amount that is pre-paid in the last 12 months, as on date.
2. Bill Payment
Pay bills from the comfort of your home or office from abroad. This is a facility ideal for your electricity,
telephone, mobile and other bills. Do away with cheques, late payments and lost bills, and enjoy the
convenience!
Make Money2India the one stop shop solution for all your payments needs - we have over 100 plus billers
for you to choose from and make paym
3. Portfolio Investment Scheme

Key Highlights
Through this scheme of the Reserve Bank of India, NRIs and OCBs can purchase and sell shares and
debentures of Indian companies on a recognized stock exchange.
Transactions can be routed through your NRI Savings Account with a designated bank branch.
You can choose to invest under repatriation or non-repatriation basis.
What is Portfolio Investment Scheme?
PISa scheme of Reserve Bank of Indiaenables NRIs and OCBs to purchase and sell shares and
convertible debentures of Indian companies on a recognized stock exchange by routing such purchase/sale
transactions through their NRI Savings Account with a designated bank branch.
Requirements
For any transaction in secondary market on repatriable basis, you will require an NRE Savings Account with
ICICI Bank .
For any transaction in secondary market on non-repatriable basis, you will require an NRO Savings
Account with ICICI Bank.
Submit PIS application form in prescribed format for designating the Savings Account as PIS Account on
repatriation/non-repatriation basis.
4. NRI Mutual Funds
Key Highlights
Access to a well-diversified portfolio of equities, bonds and other securities.

Open-ended funds can be redeemed on demand.
Dividends from MFs are tax free in the hands of the investor.
Overview
A Mutual Fund is an investment option that allows investors access to a well diversifiedportfolio of equities,
bonds and other securities. Through Mutual Funds one can indirectly participate in stock market.
Benefits
Professional management and research: Each Mutual Fund is managed by Professional fund manager
who regularly monitors market trends and conducts in-depths research of Mutual Funds.
Risk diversification: Reap the benefits of a large and well-diversified portfolio even with little investment.
Reduce your risks and augment your profits.
Convenience: Convenient features like dematerialized account statements, easy subscription and
redemption processes, availability of NAVs and performance details through journals, newspapers and
updates, investing through MFs is hassle free and easy to track.
Liquidity: Open-ended funds provide the biggest advantage of redemption on demandan extremely
beneficial feature especially during rising or falling markets.
Tax advantages: Dividends from MFs are tax free in the hands of the investor (depending on latest Finance
Act). Capital gain accrued from MF investment for a period of over 1 year is treated as long term capital
appreciation and is tax free.
Reduction in costs: Your investment costs are lowered given the very fact that MFs have a pool of money
to invest and that they are involved in buying and selling of large amounts of securities.
Others: Transparency (funds have to periodically make full disclosure of investments), flexibility in terms of
needs-based choices, strict regulation by SEBI with stringent compliance requirements to investor-friendly
norms.
Disclaimer: Bank is not liable or responsible for any loss or shortfall resulting from the operations of the
scheme.
5. ICICI Direct.com
Key Highlights
A single 3in1 integrated accountinterlinking Demat, Savings, and Broking accountsspells ease and
convenience.
Completely online and real time trading.
Access a wide variety of products such as equities, derivatives, mutual funds, IPOs, ETFs.
Overview
Features and Benefits
Hasslefree: Trading with a 3in1 integrated account is fast, easy and convenientinterlinked Demat,
Savings, and Broking account.
Fast: Completely online and real time trading on NSE and BSE.
Variety: Access a wide range of productsequities, derivatives (F&O), mutual funds, IPOs, ETFs.
Flexible: Facility to invest through repatriable as well as nonrepatriable funds.
PAN card facility: If you or any of your Demat joint holders (if applicable) do not hold a PAN card at the time
of Account form filling, you can apply through us for no separate fees.
To visit the NRI Section on www.icicidirect.com/newsiteContent/Home/NRI.asp"
Products
ICICIdirect.com helps NRIs across the globe to trade in Indian stocks in an easy, quick and hassle-free
manner. It offers a convenient and easy-to-use platform to invest in equity and various other products.
Buying and selling of shares is just a click away. 7. Its powerful 3-in-1 concept enables you to tie in your
savings bank, demat and brokerage accounts electronically and seamlessly.
You can trade / Invest in*:
Equities:
Trade with ease in shares on both NSE and BSE. Take the delivery of shares in your demat account.
Derivatives:
Trade in derivatives, viz. Futures & Options, through your ICICI direct.com's 3-in-1 account. F&O trading
offers exciting opportunities:
o Intraday trading Square off your contracts on the same day of entering them.
o Index trading Trade in NSE index, i.e., Nifty..
o Purchase derivative contracts by just paying a percentage value of the trade value called margin.
Mutual funds:
Choose from over 2000 schemes from reputed fund houses. Also gain access to independent ratings and
make your
own informed decisions. Track your fund performance on your portfolio page.
IPOs:
Invest online in IPOs offered by Indian companies without any hassles of lengthy documentation.*Products
and Features are enabled for NRI Customers based on select countries as per local laws & jurisdiction
How to Apply
Apply online
Click here to fill the application form online

Print the completed form.
Follow the checklist for signatures, photographs and required documents, and attach the attested copies.
Send to the following address:
ICICISecuritiesLtd.
NRIAOCDESK
A-WING,
7THFLOOR,
AUTUMNESTATE,CHANDIVALI
FARM ROAD, OPP. MHADA COLONY,

CHANDIVALI, ANDHERI(E)
MUMBAI 400072
INDIA.
Apply at any ICICI Bank branch in India
You can open a 3-in-1 account while in India, by visiting any ICICI Bank branch in India.

What Is NRI Account

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NRI BANKING

Introduction to NRI Banking

FCNR (Foreign Currency Non Resident Account)

Benefits of taking NRO Account and NRE Account

What is NRI Account?

For example:- A NRI Account held in an India-based bank or

(1). REMITTANCE -Any amount of remittance in foreign exchange from

( i) NON RESIDENT (EXTERNAL) RUPEE ACCOUNT (NRE)

(ii) FOREIGN CURRENCY NON-RESIDENT (FCNR) ACCOUNTS (BANKS)

(3) INVESTMENTS ON REPATRIATION BASIS:

(a) Government dated securities/treasury bills.

(b) Units of domestic mutual funds.

(c) Bonds issued by a public sector undertakings (PSU) in India

(d) Shares in public sector enterprises being dis-invested by the Government of

(f) Shares and convertible debentures of Indian companies through stock

(h) Non-convertible debentures of a company incorporated in India.

(a) Units of Money Market Mutual Funds in India.

(d) Government dated securities (other than bearer securities)/treasury bills.

(e) Unit of domestic mutual funds.

(f) Non-convertible debentures of a company incorporated in India.

(g) Commercial Paper issued by an Indian company.

(5) INVESTMENT IN IMMOVABLE PROPERTY:

(a) NRIs may acquire immovable property in India other than

(b) Housing loan in rupees availed of by NRIs from ADs/Housing financial

(c) Sale proceeds of immovable property acquired in India to the extent of

(i) application/earnest money/purchase consideration made by house building

(ii) Cancellation of booking/deals or purchase of residential/commercial

(6) FACILITIES FOR RETURNING NRIs/PIOs

(a) Returning NRIs/PIOs may continue to hold, own, transfer or invest in

(7) TRANSFER OF FUNDS FACILITY THROUGH WESTERN UNION

1. Ordinary Non-Resident Rupee Accounts (NRO Accounts)

By proceeds of foreign exchange remittance from abroad through banking channels in

Conditions regarding repatriation of balances in NRO accounts:

2. Non-Resident (External) Rupee Accounts (NRE Accounts)

By proceeds of foreign exchange remittances from abroad through banking channels in

3. Foreign Currency (Non Resident) Accounts (Banks) (FCNR (B) Accounts)

4. Non-Resident (Non-Repatriable) Rupee Deposit Accounts (NRNR Accounts)

Account Saving Saving Fixed Fixed Fixed Deposit Fixed Deposit

Foreign Currency (Non-Resident) Accounts (Bank) Scheme

LIST OF BANKS AND OTHER INSTITUTIONS (AUTHORISED DEALERS) TO

DOCUMENTS REQUIRED TO OPEN THE ACCOUNT

Wherever you may be in the World, remitting money to

To park funds To park funds,

Investment Min: 1 Year Min: 7 Days Min: 1 Year Min: 1 Year

Savings, Current: Nil

NRIs NRIs NRIs Only with any

5. NRI FAMILY CARD

Resident Indian (family member or dependent or beneficiary or any acquaintance of

Card usage process:

Card applicant will take card from SBI branch

Card is valid for 10 years from the date of issue

Card Issuance Charge Rs. 105/-

Top up / Reloading Charge Rs. 10

Replacement Card/ Duplicate Pin Rs. 105/-

Usage of Card at State Bank Group

Financial Transaction: Rs. 20/- per

NRI Home Loan

HOME LOAN PRODUCTS

(a) SBI NRI Home Loan

(b) SBI Maxgain (Home loan as an overdraft)

(c) SBI Realty

For purchase of a plot for construction of house

(d) SBI PAL (Pre-Approved Loan)