ICICI Bank NRE FD Rates

What is an ICICI Bank NRE Fixed Deposit?

The ICICI Bank NRE FD is a financial asset under which Non-Resident Indians invest money for a predetermined time and earn interest on it. The account offers a higher interest rate than that offered by a savings account. The ICICI NRE FD is one of the easiest ways to invest and grow foreign income in India.

Rate of Interest on ICICI Bank Non-Resident External (NRE) FD Account Deposits

The interest rates received on ICICI Bank NRE fixed deposit accounts amounting to below ₹3 crore are as follows:

Note:*Interest rates effective from April 23, 2025. ICICI NRE FD rates are subject to change without prior notice. The minimum tenure for an NRE FD is 1 year.

The interest rates received on ICICI NRE fixed deposit accounts amounting to ₹3 crore to less than ₹5 crore and ₹5.10 crore to less than ₹24.90 crore are as follows:

Note:*Interest rates effective from April 23, 2025. ICICI NRE FD rates are subject to change without prior notice. The minimum tenure for an NRE FD is 1 year.

The interest rates received on ICICI Bank NRE fixed deposit accounts amounting to ₹5 crore to less than ₹5.10 crore and ₹24.90 crore to less than ₹25 crore are as follows:

Note:*Interest rates effective from April 23, 2025. ICICI NRE FD rates are subject to change without prior notice. The minimum tenure for an NRE FD is 1 year.

The interest rates received on ICICI NRE fixed deposit accounts amounting to ₹25 crore to less than ₹100 crore, ₹100 crore to less than ₹250 crore, ₹250 crore to less than ₹500 crore, and ₹500 crore or more are as follows:

Note:*Interest rates effective from April 23, 2025. ICICI NRE FD rates are subject to change without prior notice. The minimum tenure for an NRE FD is 1 year.

Why Choose an ICICI NRE FD Account?

The ICICI NRE FD account offers its customers various benefits, including:

• NRE FD is maintained in Indian rupees, saving the funds from foreign exchange rate fluctuations.

• ICICI NRE FD provides tax benefits on interest earned over time.

• The funds and earned interest in NRE fixed deposits can be completely transferred to foreign banks without tedious formalities.

• The bank catering to different needs of various individuals offers a flexible tenure to deposit money ranging from 1 to 10 years.

• ICICI NRE FD provides the benefit of a loan of up to 90% of your FD fund value.

What Are the Eligibility Criteria for an ICICI Bank NRE FD Account?

In order to open an ICICI NRE FD account, the following conditions are to be fulfilled:

• The customer must fall under one of the NRI, PIO, or OCI categories.

• Must have valid ID proof, including an Indian passport or a PIO card.

• Required to show authentic overseas address proof.

• Must present valid proof, including a student visa or employment visa.

How to Open an ICICI Bank NRE FD Account?

1. For Existing ICICI Bank Customers

   ICICI Bank follows an easy way to open an NRE FD account within just 60 seconds. Simply follow the given steps, and your NRE FD account will be opened in no time:

   Step 1:

   Simply log in to your online banking (either through the website or the mobile app).

   Step 2:

   Choose how much money you want to invest and for how long.

   Step 3:

   Decide how you want to receive your returns, and that's it!

2. For New Customers

   New customers can open an ICICI Bank NRE FD account using two convenient methods.

   Online Application

   • Start Your Application:

     Visit the ICICI Bank NRI Services page to begin your online application.

   • Complete the Online Form:

     Enter your personal details and upload scanned copies of the required documents.

   • Digital In-Person Verification:

     Complete the mandatory IPV through a secure digital platform.

   • Finalize and Submit:

     Print your completed application form and follow the accompanying checklist to ensure all documents are included.

   • Courier Your Documents:

     Follow the instructions provided by ICICI Bank for dispatching your physical documents via courier for final verification.

   Offline Application

   • Visit a Branch:

     Locate and visit the nearest ICICI Bank branch, either in India or overseas.

   • Obtain and Fill the Form:

     Request the NRE account opening form and fill it in with your personal and contact details.

   • Provide Required Documents:

     Submit photocopies of the necessary documents, including proof of identity and NRI status.

   • Submit the Application:

     Hand in the completed form and all supporting documents at the branch for processing.

Documents Required to Open ICICI NRE FD Account

The following documents are to be submitted while opening an ICICI NRE FD account:

1. Documents to be submitted by NRIs

   At the time of submitting an application to open an NRE FD account at ICICI Bank, the following duly signed documents are to be submitted:

   • Passport

   • Valid work permit / employment visa / Residence Visa / Residence Permit

   • Address proof

2. Documents to be submitted by OCIs / PIOs

   While submitting an application to open an NRE FD account at ICICI Bank, the following duly signed documents are to be submitted:

   • Passport

   • PIO card or past Indian passport

   • Valid work permit / employment visa

   • Address proof

3. Documents to be submitted by Students

   Students, while submitting an application to open an NRE FD account at ICICI Bank, have to submit the following duly signed documents:

   • Passport

   • Valid student visa / I-20 form

   • Proof of Address

4. Documents for Seafarers

   Seafarers, while submitting an application to open an NRE FD account at ICICI Bank, have to submit the following duly signed documents:

   • Passport copy

   • Visa copy

   • Oil rig workers are to submit a business visa along with a valid appointment letter. It is important for them to note that an expired contract letter can be submitted, provided their passport shows a stamp from the country where the oil rig was located, and that stamp is not older than six months.

   • Permanent employees are to submit their initial work contract and last wage slip.

   • Contract employees are to submit a valid CDC and work contract.

Conclusion

One of the easiest and sure-shot ways for NRIs to judiciously invest and grow their earnings from abroad is by investing in an ICICI NRE FD account. You can manage your funds in India without much hassle. By knowing the ICICI NRE FD rates, you’ll be able to analyze the rates along with the time period most suitable for you, so that you attain your financial goals at your desired time.