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Foreign Currency Cheque


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52.80 as on May 23, 2013

	*Offer Terms and Conditions apply

What is Foreign Currency Cheque?

This is an easy way to get fast credit into your ICICI Bank account for foreign currency cheques from abroad. You can approach any ICICI Bank branch to deposit your cheque.

We accept cheques, travelers cheques, demand drafts, cashier orders, pay orders, and bankers' cheques etc.

Please submit your cheques along with a signed Indemnity Letter cum deposit slip to the nearest branch. To download Indemnity Letter cum deposit slip, please click here.

Please ensure that instruments are deposited at ICICI Branch in India with proper acknowledgment in the specified deposit slip only. Do not deposit instruments in drop boxes.

Money will be credited into your account ranging from immediately to 15 days.
- Instant credit (On special request by customer for individual instruments) upto USD 300 or equivalent. The same would be as per Branch Head's recommendation.
- Credit in 8 days – Amount is credited within 8 days of lodging of your cheque with our correspondent bank. This is for instruments drawn in the following currencies and countries: USD in US; GBP in UK; EURO in EU; AUD in Australia; SGD in Singapore; CAD in Canada. This facility is available on specific requests for cheques above USD 350 or equivalent favoring savings account.
- Credit in 15 days – Credit is available after 15 days from the day the cheque is logged by the central processing center for cheques upto 10000 USD or equivalent favoring savings account.

USD cheques payable in USA and GBP cheques payable in UK of value greater than 10,000 currency units for savings accounts and for any value for current accounts are sent under collection arrangements with correspondent banks in USA and UK. For USD cheques drawn on New York, Philadelphia and Pennsylvania, the confirmed credit is provided to ICICI Bank after 6 international working days from the date of receipt of cheque in the US. For other states the credit is received after 15 international working days from the day the cheque is received by the correspondent bank in US. For GBP cheques the credit is received after 15 International Working days from the time that the cheque is received by the correspondent bank in UK.

Any cheque not meeting the above criteria (for eg. SGD 15000, USD 8000 payable in UAE) is sent for collection to the drawee bank or collecting bank under Pure Collection Basis. The credit is given when the bank realises the same.

For currencies where ICICI Bank does not have nostro arrangements with correspondent banks the funds would be received in our USD nostro for subsequent conversion to INR.

ICICI Bank has nostro arrangement in the following currencies:
USD, CAD, GBP, EUR, CHF, SGD, AUD, NZD, AED, HKD, JPY and ZAR

	Customer Segment
Collection Arrangement	NRI Customers – (individual)	Domestic customers - (individual)	Domestic Customers - (Non-individuals)
Instant Credit	Rs 250	Rs 250	Not applicable
Cash Letter Arrangement (Credit on day 8)	No charges	0.50%, subject to minimum of Rs.350.	0.50%, subject to minimum of Rs.350 or as per any specific agreement with the customer
Cash Letter Arrangement (Credit on Day 15)	No charges	0.25% subject to minimum of Rs.250	0.25% subject to minimum of Rs.250 or as per any specific agreement with the customer.
Final Clearing Services	No charges (Charges in Foreign currency might be levied by the correspondent bank)	0.125% subject to minimum of Rs.250 Additionally : charges levied by correspondent bank in original	0.25% subject to minimum of Rs.350 Additionally : charges levied by correspondent bank in original
Collection	1. Courier charges of INR 400/-. 2. Such other charges, as the overseas bank may levy.	0.125% subject to minimum of Rs.250 Additionally : Courier charges of INR 400/-, and	0.125% subject to minimum of Rs.250 Additionally : Courier charges of INR 400/-, and Such other charges, as the overseas bank may levy. Or as per any specific agreement with the customer.
Cheque Purchase	Interest @17.5% p.a. from the date of credit to customer's account till the date of receipt of funds in the nostro.	Interest @17.5% p.a. from the date of credit to customer's account till the date of receipt of funds in the nostro.	Interest @17.5% p.a. from the date of credit to customer's account till the date of receipt of funds in the nostro or as per any specific agreement with the customer

The above charges are exclusive of any statutory taxes or fees like service tax, education cess etc. All percentage of charges stated above shall be applied on gross amount to be credited.

* The courier charges will only be applicable for cheques that are sent under collection.

Service tax will be levied on the converted gross INR amount in accordance with the Service Tax (Amendment) Rules, 2012 of the Government of India w.e.f. 1st April 2012. Please click here to know the slab wise service tax structure.

The charges for clearing favoring EEFC / RFC will be as per above schedule suject to minimum of following:

Currency	USD	EUR	GBP	AUD	CAD	SGD
Charge	8	6	4	8	9	13

The charges stated above will be charges in the currency of the account holder.

Charges on Cheque Return by correspondent / clearing bank:

For all customer segments, by debit to customer's account. The charges should be total of following:

Courier charges incurred by the Bank at INR 400/- (for chques sent under Pure Collection only).
Charges debited by the correspondent bank.
Cheque Return Charges of INR 500 + applicable service tax.

Exchange Rate/Remittance Charge Calculator

Transfer Mode:

Exchange Rate Movement
USD* to INR using e–Transfer

*For transfer amount of USD 1000

Remittance Service Charge: USD 2 for transfer amounts up to USD 1000

Foreign Currency Conversion Charge* : INR 25

* Will be levied on receiver

Indicative Exchange Rate

Actual exchange rate applied to your transaction will be as prevailing on the date and time of conversion of your money

Transaction Amount (a):	USD
Remittance Service Charge (b): (inclusive of Service Tax)	2.00 USD
Transfer Amount (a+b):	USD
Foreign Currency Conversion Charge (c): (inclusive of Service Tax)	25.00 INR
Indicative Exchange Rate (d):	46.41 INR
Indicative amount that the receiver gets (a x d - c):	INR

Fixed Exchange Rate

Exchange rate is confirmed at the time of transfer initiation. Specify amount in Rupees that you want your receiver to get

Amount INR

Reset Calculate

Indicative Exchange Rate

Exchange rate is confirmed at the time of transfer initiation. Specify amount in Rupees that you want your receiver to get

Amount USD

Fixed Exchange Rate

Exchange rate is confirmed at the time of transfer initiation. Specify amount in Rupees that you want your receiver to get

Amount for Receiver (a):	INR
Foreign Currency Conversion Charge (b): (inclusive of Service Tax)	25.00 INR
Fixed Exchange Rate (c):	46.89 INR
Remittance Service Charge (d) : (inclusive of Service Tax)	0.00 USD
Transfer Amount [{(a+b)/c} + d]:	INR

Reset Calculate

Maturity Period	Interest rates (percent per annum) w.e.f. July 01, 2011
12 months and above but less than 18 months	2.48
18 months and above but less than 24 months	2.48
24 months and above but less than 36 months	2.44
36 months to 120 months	2.84

NRE FD / Recurring

Maturity Period	*Interest rates (percentage per annum) w.e.f. May 19, 2011**
Maturity Period	Less than INR 1.5 Million	INR 1.5 million to less than INR 10.0 million	INR 10 million and above
7 days to 14 days	3.75%	3.75%	As advised by ICICI Bank from time to time
15 days to 29 days	4.00%	4.00%
30 days to 45 days	5.00%	5.00%
46 days to 60 days	5.75%	5.75%
61 days to 90 days	6.25%	6.25%
91 days to 120 days	7.00%	7.00%
121 days to 184 days	7.00%	7.00%
185 days to 189 days	7.50%	7.50%
190 days	7.75%	7.75%
191 days to 210 days	7.50%	7.50%
211 days to 269 days	7.50%	7.50%
270 days to 289 days	7.50%	7.50%
290 days	7.75%	7.75%
291 days to less than1 years	7.50%	7.50%
1 year to 389 days	8.25%	8.25%
390 days	8.50%	8.50%
391 days to 589 days	8.25%	8.25%
590 days	9.25%	9.25%
591 days to less than 2 years	8.25%	8.25%
2 years to 789 days	8.50%	8.50%
790 days	9.25%	9.25%
791 days to 989 days	8.50%	8.50%
990 days	9.25%	9.25%
991 days to less than 3 years	8.50%	8.50%
3 years to less than 8 years	8.75%	8.75%
8 years upto 10 years	8.75%	8.75%
5 Years (80C FD)	8.75%	N.A

*Subject to revision without further notice

Note:

Rate for deposits of INR 10 million and above will be advised by ICICI Bank from time to time
Recurring deposit will not be available for tenures of 190 days, 290 days, 390 days, 590 days, 790 days and 990 days
NRO quantum optima facility is not available for special day tenures (e.g.190, 290, 390, 590, 790 and 990 days)
Additional 0.5% rate of interest payable on fixed deposits for senior citizens does not apply to NRE and NRO fixed deposits
Please note that the minimum tenure for NRO term deposits is 7 days and no interest is payable for deposits prematurely withdrawn within the period of 7 days

Penalty for pre-mature withdrawal (all categories):

Original Tenure of Deposit	Penal rates (in %)
Original Tenure of Deposit	Less than INR 50 million	INR 50 million & above
Less than 1 year	0.50	0.50
1 year & above but less than 5 years	1.00	1.00
5 years	1.00	1.50

*Indicates a mandatory field
Interest Rate Option:	Fixed Floating
Scheme:
Applicant Profile:
Tenure:
Value of Property (INR):	lacs
Required Loan Amount (INR):	lacs
	You can acquire 00.00 Lacs maximum for the value of property entered.Loan amount sanctioned only up to 70% of the property value.

You can avail a loan of any amount ranging from INR 5 lakhs to INR 1 crore. The loan amount is subject to repaying capacity and scheme-wise caps
*Indicates a mandatory field
Your Details
* Date of Birth (mm/dd/yyyy):
* Employment Type:
* Gross Income (per month):	INR
* Have any other loans:	Yes No
Home Loan (per month):	lacs
Car Loan (per month):	lacs
Personal Loan (per month)	lacs
Other Loan (per month):	lacs
Loan Details
* Scheme:
* Value of Property (INR):	lacs
* Interest Rate Option:	Fixed Floating
* Tenure:	Years

Personal Details
* First Name:
Last Name:
* Email Id:

Interest rates (percent per annum) w.e.f. January 01, 2010
Currency	USD	GBP	EURO	JPY
Savings Bank account	0.90	2.75	No Quote	No Quote

Interest rates (percent per annum) w.e.f. July 01, 2011
Currency	USD	GBP	EURO	JPY
Overnight and upto 30 days	****	****	****	****
30 days to less than 6 months	0.85	3.61	1.80	0.04
6 months to less than 1 year	1.40	2.10	2.76	1.34
>= 12 months < 24 months	1.73	2.58	3.14	1.56
>= 24 months < 36 months	1.69	2.47	3.17	1.39
36 months	2.09	2.80	3.38	1.43

Money Transfer

Foreign Currency Cheque

What is Foreign Currency Cheque?

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Helpline

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your funds

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	Settled abroad
	Planning to go abroad permanently for an overseas appointment
	Planning to go abroad for an overseas assignment with an India company
	Student planning to go abroad for higher studies
	Seafarer

Interest rates (percent per annum) w.e.f. July 01, 2011
Currency	USD		GBP		EURO		JPY		AUD		CAD
Currency	RATE	APY	RATE	YIELD	RATE	YIELD	RATE	YIELD	RATE	YIELD	RATE	YIELD
>= 12 months < 24 months	1.73	1.73	2.58	2.58	3.14	3.14	1.56	1.56	6.49	6.49	2.85	2.85
>= 24 months < 36 months	1.69	1.72	2.43	2.47	3.17	3.24	1.39	1.41	6.01	6.29	2.71	2.77
>= 36 months < 48 months	2.09	2.14	2.80	2.90	3.38	3.52	1.43	1.45	6.13	6.62	2.98	3.05
>= 48 months < 60 months	2.54	2.66	3.15	3.33	3.60	3.83	1.48	1.52	6.39	7.15	3.23	3.42
60 months	2.95	3.16	3.47	3.76	3.79	4.13	1.56	1.62	6.51	7.55	3.47	3.75

Money Transfer

Foreign Currency Cheque

What is Foreign Currency Cheque?

Related Links

Helpline

Exchange Rate/Remittance Charge Calculator

Loan EMI Calculator

Home Loan Eligibility

NRE Savings

NRO Savings

NRE FD / Recurring

NRE FD / Recurring

RFC Savings

RFC Fixed

RFC Fixed

Choose the option which best describes you/ your situation

Choose the option which best describes your requirement to access your funds

Choose the option which best describes the source of income to fund your account

Do you want the funds to be available to your abroad?

Choose the currency in which you want your funds to be

Exchange Rate/Remittance Charge Calculator

Choose the option which best describes your requirement to access
your funds