ICICI Bank launches Easy NRI Account

The Easy NRI Account holder or mandate holder for this account is issued a passbook that can be updated by simply visiting any of ICICI Bank’s over 3,600 branches in India.

By Staff Report

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Published: Sun 19 Oct 2014, 11:58 AM

Last updated: Fri 3 Apr 2015, 7:27 PM

Dubai: ICICI Bank, India’s largest private sector bank, has announced the launch of Easy NRI Account, a savings bank account specially designed to ensure convenient banking for non-resident Indians, or NRIs, located in the Middle East.

The Easy NRI Account has been created with the objective of simplifying regular banking activities along with facilitating remittances for customers. This account offers a low monthly average balance requirement of just Rs2,000. In addition, the account offers a unique feature of nil charges for non-maintenance of minimum balance, as long as the customer has remitted a sum of Rs20,000 to an ICICI Bank India Easy NRI Account over the preceding three months. This ensures that customers can use the account for remittances without worrying about minimum balance maintenance.

The account has a special provision for customers who are more comfortable monitoring their account activity using a passbook. The Easy NRI Account holder or mandate holder for this account is issued a passbook that can be updated by simply visiting any of ICICI Bank’s over 3,600 branches in India. Recurring deposits starting from as low as Rs500 have also been enabled, encouraging NRI customers to save easily and automatically.

Rajiv Sabharwal, executive director at ICICI Bank, said: “Our experience of serving 1.5 million NRI customers for over a decade has helped us gain valuable insights into their lives and are confident that this product will enable our customers to carry out their day-to-day banking transactions as well as remittances in a simple and hassle-free manner.”

abdulbasit@khaleejtimes.com



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