Source - ICICI Bank Press Release
Mumbai: ICICI Bank, India's largest private sector bank, announced the launch of two new saving accounts products -- NRI Pro and NRI Premia -- for NRI customers. With these launches, ICICI Bank now offers three-tiered savings accounts for NRI customers – Regular, Pro and Premia.
The three-tiered offering has been designed with the objective of catering to the unique needs of different categories of NRI customers based on their life stage. While the Regular savings account is the basic product, the NRI Pro and NRI Premia savings accounts have been designed to offer enhanced convenience and experience.
Mr. Rajiv Sabharwal, Executive Director, ICICI Bank, said, "At ICICI Bank, we constantly innovate and enhance product offerings to provide best-in-class banking experience to our customers. We serve 1.5 million NRI customers across more than 150 countries and process over five million NRI transactions annually. This experience has given us insights into the lifestyle and aspirations of NRIs and our products are designed to meet their needs. In this highly regulated and commoditised product space, features like the concierge service, benefits for family members in India and insurance bouquet help us in creating a distinctive experience for the customer."
NRI customers can choose from two types of Regular savings accounts - NRE and NRO. An NRE savings account is used for overseas income and an NRO savings account is mainly used for income earned in India like, for example, rental income.
In addition to offering Regular savings account benefits, the NRI Pro savings account offers NRI customers value-added features such as priority service, preferential rates on money transfers and banking benefits for family members based in India.
The NRI Premia savings account will offer all the benefits of a NRI Pro savings account along with access to a dedicated relationship manager to take care of the customer's banking needs, and a travel insurance bouquet* which includes air accident coverage of up to INR 10 million.
NRI Premia customers also get to experience special privileges in form of 24 X 7 concierge programme that gives them access to reservation assistance as well as preferential pricing on dining, travel bookings, golf courses, spas and special events across the world.
A comparison of available NRI saving account features:
|NRI Regular||NRI Pro||NRI Premia|
|Concierge service - Referral
and reservation assistance as
well as preferential pricing on
hotels, flight booking, golf
|Travel insurance bouquet* -
Coverage against air accident
up to INR 10 million and much
|Personalized service by
|24 X 7 priority service at call
|Benefits for family in India||✔||✔||✔|
|Preferential rates and waiver
|Debit Card benefits||NRI Silver Debit Card||Complimentary NRI
Platinum Debit Card
NRI World Debit
*Travel insurance bouquet is available to NRI customers from select geographies
About ICICI Bank Ltd: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country with consolidated total assets of US $ 124.76 billion at March 31, 2014. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries, including India.
About ICICI Bank NRI Services: ICICI Bank is one of the most preferred banks for NRIs in the world. It reaches out to NRIs in over 150 countries. Serving more than 1.5 million NRIs over the last decade, it continues to be the trusted choice of Indians abroad. The bank with its rich experience and expertise deploys technology to deliver the best in banking experience to its NRI customers. The bank offers solutions to NRI customers with a focus on:
- Comprehensive product suite addressing specific financial needs of the NRI
- Round the clock availability through various channels to ensure convenience for the NRI
- Usage of cutting edge technology to deliver efficiency & ease