ICICI Bank unveils new products and services to woo NRIs

Updated: Wednesday, October 23, 2013, 15:10 [IST]

ICICI Bank unveiled a host of product and services on Tuesday to woo its NRI customer base. The country's largest private-sector bank in order to cash in on the current festive season is making all attempts to lure NRIs across different verticals.

The bank tied up with Thyrocare Technologies, a clinical diagnostic company, for offering special offers and discounts on health check-ups. As per the scheme floated by the bank, NRI customers can avail of the coupons and get as many as 77 medical health check-ups done for their family members or themselves at discounted rates. Different medical tests worth Rs. 5,000 can be done for just Rs. 1500.

Few of the several branches of ICICI bank are also providing preferential rates on the conversion of currency to NRIs for limited period. The conversion rate would however depend on the currency type and amount of money that has to be converted.

For NRIs on the look out for buying property in India, ICICI Bank in arrangement with ICICI Home Finance Company is providing assistance in relation to property search. Further, the bank is also offering special home loan offers that are applicable for home loan amount sanctioned until October 31. As part of the special home loan offer, bank will charge a flat processing fee of Rs. 5000 for home loans up to Rs. 75 lakh while for higher amounts an amount of Rs. 10,000 will be charged by the bank. However, for home loan amount of less than Rs. 10,000 bank will charge processing fee @ 0.5%.

As part of the special privileges being offered to the NRI segment, ICICI bank has also allowed family members of its NRI customers to open savings accounts with the bank with no minimum balance criterion.

Rajiv Sabharwal, Executive Director of ICICI Bank, was quoted in one of the media reports saying "These offers have been designed based on customer insights derived from serving 1.5 million NRI customers across about 150 countries and processing over 2,00,000 NRI transactions a month".

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