How to Close ICICI NRI Account

ICICI Bank is an Indian commercial bank that provides financial services. Because it is a private bank, its headquarters are in Mumbai. At an urban location, ICICI Bank requires a balance of Rs 10,000 in a traditional saving account. Furthermore, if you do not maintain the necessary balance, the bank will charge you; you can terminate your ICICI bank account online by obtaining the ICICI bank account closure form. Here we will provide you with details on closing the ICICI NRI Account.

How to close icici nri acoount

Unfortunately, some consumers are ignorant of the requirement for a minimum balance, and as a result, they lose money. As a result, it is preferable to close the account to avoid further penalties. Here’s how to close the ICICI NRI account online.

ArticleICICI NRI Bank Account Closing Form
BankICICI Bank
BeneficiaryICICI Bank NRI Customers
LanguageEnglish
Form PDF DownloadDownload Here

Steps on How close ICICI NRI Account

Follow these steps to deactivate an ICICI Bank NRI account:

  1. Download the ‘Request for Closure of an NRI Savings Bank Account’ form.
  2. Print it, fill in all of the required information, and sign it.
  3. Attach a photocopy of a valid, self-attested passport.
  4. Fill the form and return it to the ICICI Bank branch in Mumbai.
How To Close ICICI NRI Account

Remark:

  • The NRI Trading and Demat Accounts would get removed from the NRI Bank Account due to this request.
  • If the account is dormant or inactive, it must be activated before it may be closed.
  • The proceeds of an NRO Savings account closure cannot be transferred to an NRE or any other third-party account.

Download the form to close an NRI saving bank account. Click Here

Close ICICI Bank Account Online

Unfortunately, the ICICI Bank Account cannot be closed online. However, there is no need to visit the home branch to close the ICICI bank account. Instead, you can close your ICICI Account online by downloading the account closure form below and visiting the nearest ICICI Bank branch.

How To Close ICICI NRI Account

How to close ICICI Direct Demat account online?

Closing an ICICI Direct Demat account online is not permitted. To close your Demat account, you must complete and submit a form to the firm. There are no charges for closing the account. However, the account may take up to seven days to close.

Steps to close ICICI Direct Demat Account

After obtaining the Account Closure Form, print it. Alternatively, you can visit your local ICICI Bank branch and request an Account Closure Form.

  • Fill out the account closure form and include all required documents, such as a ledger copy and any unused DP slips.
  • Return the completed form to the branch office.
  • On your mobile phone, you will receive an SMS with an account closure request number.
  • The account can be terminated in as little as two business days. You will receive a confirmation SMS after the account is closed.
How To Close ICICI NRI Account

ICICIdirect NRI Account Review

Through the ICICI NRI 3-in-1 account, ICICI Bank provides NRIs with trading and investment opportunities in the Indian stock market. It combines an NRI saving bank account, an NRI Demat account, and an NRI trading account.

How To Close ICICI NRI Account

The ICICI Bank 3 in 1 Account for NRI allows you to trade online in the BSE and NSE without having to bother about monitoring settlement cycles, transferring cash from your bank to your trading account, and so on. In addition, it provides a variety of services, including online equity, derivatives (F&O), mutual funds, bonds, NCD, FD, IPO, and ETF investments.

Through its subsidiary ICICI Securities, ICICI Bank provides trading and investment services to non-resident Indian (NRI) customers. In addition, ICICIDirect.com, the company’s main website, offers online trading and services.

ICICI direct NRI brokerage rates range from 0.50 per cent to 1.25 per cent for equity delivery trades, 0.03 per cent to 0.05 per cent for equity futures trades, and Rs 70 to Rs 95 for equity options trading. The customer’s overall trade volume determines the icici NRI trading account costs.

How To Close ICICI NRI Account

Customers of ICICI Securities have access to a variety of online trading software. This comprises the ICICIDirect.com website, the ICICI Direct Mobile Trading App, and Trade Racer, a trading terminal installed.

NRIs can also access online mutual funds with ICICI. As a result, investors can choose from various plans and invest without dealing with any paperwork.

Read about How to close Kotak Mahindra Bank account Online and more details about Bank Accounts.

Conclusion

Today’s post is about “How to Close ICICI NRI Bank Account Online.” Here we have explained all you need to know about closing your ICICI NRI Bank account in Canada. If you hold any questions regarding any points, post them in the comments section, and we will gladly respond. 

FAQs

How to close my ICICI bank account online?

Although it is impossible to close an ICICI bank account online, an account closure form can be downloaded from the official website. You can omit the information about the balance amount because you have already taken all of the funds from the bank. Instead, submit the paperwork together with the chequebook, debit card, and proof of identification.

What is the minimum balance for the ICICI NRI account?

The minimum balance for the ICICI NRI account is Rs 10,000.

Can one person have 2 NRE accounts?

No, NRIs are only permitted to open one PIS account. They can, however, open several NRE savings bank accounts. You can only have one NRE PIS account.

Are there any charges when closing an ICICI Bank account?

There are no charges if closed within 14 days. If closed after 14 days but within six months, Rs. 1000/-; if closed after six months, Rs. 500/-.

What is the benefit of the ICICI NRI account?

Interest on NRE and foreign currency accounts is tax-free. NRI accounts are helpful for repatriation since they allow for the easy flow of funds within India and abroad, making it simple for NRIs. The latter want their funds to be accessible from both outside and India.

Who is eligible for an NRI account?

Indian citizen residing outside of India for employment, studies, business, or vocation is eligible for an NRI account. For example, individuals assigned to a United Nations organisation or an official delegated abroad by India or a public sector company.

Who Cannot open an NRI account?

Accounts that are kept open for more than six months will need to be approved by the RBI. NRIs (including PIO / OCI) residing in Nepal or Bhutan cannot open NRO accounts.

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