ICICI Bank NRI Account Opening Experience: Documents & Timeline

Mine was a little more complicated because I already had an ICICI resident savings account.

I initially thought I should simply open another NRE account and leave the old savings account alone. After speaking with the bank, I realized I needed to deal with the status of my existing resident account separately.

ICICI currently provides a specific request for conversion of an existing resident account to an NRO account in its NRI forms section.

That was useful because I had assumed the bank would automatically handle everything when I opened the NRE account.

My advice would be to separate these two things:

Existing resident account → ask ICICI about NRO conversion

Foreign income → open/use NRE account

If you have Indian rental income, dividends or other Indian-source income, an NRO account may also be relevant.

The account-opening experience itself was okay, but make sure your overseas address is exactly the same across the documents you submit. That seems to be one of the areas where additional clarification can happen.

I opened my ICICI NRO account while I was in India rather than from abroad.

I went to a branch with my original documents and submitted the application there. ICICI's current FAQ says applicants can open an NRI account at a branch in India, and it describes processing after the documents reach the processing centre.

For people applying from outside India, I'd pay particular attention to the NRI-status proof. ICICI lists documents such as a valid employment visa, work permit, residence permit or OCI card depending on the applicant's circumstances.

Also check whether you need PAN or can use Form 60 in your particular situation. The current ICICI documentation lists PAN or Form 60 among the account-opening documents, subject to the applicable conditions.

My experience with the actual account was good, but the important thing is getting the initial KYC paperwork right. Once that's done, the normal banking side is much less complicated.

I opened an ICICI NRE account from the U.S. recently, and my experience was mostly online.

The thing that took me the longest was actually getting all the documents together rather than filling out the application. I had my passport, U.S. address proof, immigration/status document, PAN information and FATCA/CRS details ready.

ICICI currently offers both an assisted journey and a DIY online journey for NRI account opening. For the online process, the bank says applicants should keep self-signed copies of their passport, visa and address proof ready.

One important difference when applying from outside India is document attestation. ICICI's current NRE documentation says copies submitted from outside India may need additional attestation by a banker, notary, embassy or consulate official.

So I'd check the exact instructions for your application before getting anything notarized. I wouldn't assume that every document needs the same type of certification.

Once the KYC was cleared, I made the initial transfer from my own U.S. account. That part was straightforward for me.