Changes In ICICI Bank NRI Savings Account Schedule of Charges (W.e.f. April 01, 2022)

ICICI Bank, a private sector lender, has increased the fees charged on NRI savings accounts. The increased charges will take effect on April 1, 2022. According to the bank's official statement, the following are the new charges that apply to NRI product variant categories.

1. NRI Regular Account

• Monthly Average balance (MAB): Rs 10,000 at CASA level or Rs 25,000 at Customer ID level.
• Current/Existing Non-maintenance of MAB charges: 5% of the shortfall in required MAB or Rs 500, whichever is lower.
• Non-maintenance of MAB charges (effective April 01, 2022): 6% of the shortfall in required MAB or Rs 500, whichever is lower.

2. NRI Pro Account

• MAB Requirement: Rs 2,00,000 at CASA level or Rs 5,00,000 at Customer ID level.
• Current Non-maintenance of MAB charges (NMMAB): 2% of the shortfall in required MAB or Rs 500, whichever is lower.
• Non-maintenance of MAB charges (effective April 01, 2022): 3% of the shortfall in required MAB or Rs 500, whichever is lower.

3. NRI Premia Account

• MAB Requirement: Rs 5,00,000 at CASA level or Rs 25,00,000, at Customer ID level.
• Current/Existing Non-maintenance of MAB charges: 1% of the shortfall in required MAB or Rs 500, whichever is lower.
• Non-maintenance of MAB charges (effective April 01, 2022): 2% of the shortfall in required MAB or Rs 500, whichever is lower.

4. NRI Student Account

• MAB Requirement: Rs 5,000 at Account level or Rs 5,000 at Customer ID level.
• Current/Existing Non-maintenance of MAB charges: 5% of the shortfall in required MAB.
• Non-maintenance of MAB charges (effective April 01, 2022): 6% of the shortfall in required MAB.

5. NRI Low Balance account (Easy NRI Account)

• MAB Requirement: Rs 2,000 at Account level.
• Current/Existing Non-maintenance of MAB charges: 5% of the shortfall in required MAB.
• Non-maintenance of MAB charges (effective April 01, 2022): 6% of the shortfall in required MAB.

6. Sparsh Account

• MAB Requirement: Rs 2,50,000 at CASA level or Minimum remittance of equivalent or above USD 2250 from Money2India/Wire transfer every quarter, from the date of account opening.
• Current/Existing Non-maintenance of MAB charges: 2% of the shortfall in required MAB.
• Non-maintenance of MAB charges (effective April 01, 2022): 2% of the shortfall in required MAB.

Important points to note according to the official website of ICICI Bank

• Account level: Minimum Average Balance maintained in each Savings/Non-interest bearing Account under the same Customer ID.
• CASA level: Cumulative Minimum Average Balance in all Savings/Non-interest bearing Accounts under the 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, under the same Customer ID.
• GST will be applicable on charges.