What happens when you convert a savings account to NRO
When you convert your ICICI savings account to an NRO (Non-Resident Ordinary) account, the bank changes the account type in its system but keeps the same account number, branch, and existing balance. The conversion itself takes a few days to process. After conversion, the account follows NRO rules: you can deposit rupees earned in India (salary, rent, dividends), but money you bring in from outside India must go to an NRE account instead.
The key difference is that NRO accounts are meant for rupee income generated inside India, while NRE accounts hold foreign currency or rupees you've brought from abroad. If you're a non-resident and currently have a regular savings account, converting to NRO prevents the bank from freezing or closing it due to your residential status change.
ICICI requires you to initiate this conversion yourself—the bank will not do it automatically. You'll need to visit your branch in person or use online banking, depending on which method ICICI offers at your location.
Key Takeaways
- You must visit your ICICI branch in person or use the bank's online portal to request the conversion; the bank will not change it on its own.
- The account number stays the same, but the account type changes from savings to NRO in the bank's records.
- After conversion, you can deposit rupees earned in India (salary, rent, pension) but must use an NRE account for foreign currency or money brought from abroad.
- The conversion typically completes within 3 to 5 business days once you submit the request and required documents.
- You will need proof of non-resident status, such as a visa, passport showing travel dates, or an employment letter from your overseas employer.
Documents you need to bring to the branch
ICICI will ask for proof that you are a non-resident. The most common documents are a valid passport showing your current visa or travel history, an employment letter from your overseas employer on company letterhead with your job title and location, or a visa copy. If you hold a work permit or residence permit from another country, bring that as well.
You will also need your ICICI savings account details—your account number, the branch where you opened it, and your registered mobile number. Bring a government-issued photo ID (passport, driver's license, or Aadhaar) and your current address proof if it has changed since you opened the account. Some branches may ask for a recent utility bill or rental agreement if your address on file is outdated.
If you are applying through an ICICI branch outside India, the requirements may differ slightly. Contact your nearest ICICI branch or call their customer service line to confirm what documents they need before you visit.
Converting through ICICI's online banking portal
ICICI offers account conversion through its online banking platform for some customers. Log into your ICICI iMobile or internet banking account, navigate to the "Account Services" or "Profile" section, and look for an option labeled "Change Account Type" or "Account Conversion." Not all branches or account types support online conversion, so this option may not be available to you.
If the online option appears in your account, you will be asked to upload a scanned copy of your proof of non-resident status (passport, visa, or employment letter) and confirm your current address. The system will then submit your request to your home branch for verification. You should receive an email or SMS confirmation within 24 hours, and the conversion typically completes within 3 to 5 business days.
If you do not see the conversion option in your online banking menu, you will need to visit your branch in person. Some older accounts or accounts opened at smaller branches may not have online conversion enabled.
Converting at your ICICI branch in person
Visit the branch where you opened your savings account, or any ICICI branch if your account is linked to the bank's core system. Bring all documents listed above and ask to speak with an account officer about converting to NRO. The officer will verify your non-resident status, check your account details, and ask you to sign a form confirming the conversion request.
The form will state that you understand NRO account rules and that you are responsible for ensuring all deposits comply with those rules. Read it carefully before signing. The officer will give you a receipt with a reference number and an expected completion date, usually 3 to 5 business days from the date you submit the request.
After you leave the branch, the account conversion moves to the back-office team. You do not need to do anything else during this time. Once complete, you will receive an SMS or email confirming that your account type has changed to NRO.
What to do if your conversion is delayed
If your conversion has not completed within 7 business days, contact the branch where you submitted the request. Provide your reference number and account number. The branch can check the status in their system and tell you whether the conversion is still in progress or if additional documents are needed.
Common reasons for delay include incomplete or unclear documents, a mismatch between the name on your account and the name on your proof of non-resident status, or a backlog at your branch. If documents are missing, the branch will contact you by phone or email. Respond quickly with the missing items to avoid further delays.
If you submitted the request online and have not heard back after 7 days, log into your online banking account and check for any notifications or pending requests. You can also call ICICI's customer service line and provide your account number and reference number to get a status update.
How NRO account rules affect your deposits and withdrawals
After conversion, you can deposit rupees into your NRO account if the money comes from Indian sources: your salary from an Indian employer, rent from a property you own in India, pension payments, dividends from Indian investments, or money transferred from another Indian bank account. You can withdraw money freely and use the account for everyday banking—paying bills, receiving transfers, or making purchases.
You cannot deposit foreign currency directly into an NRO account. If you receive money from abroad, it must go into an NRE (Non-Resident External) account instead. If you need to move money between your NRO and NRE accounts, you can do so, but the transfer is treated as a foreign exchange transaction and may have limits or require documentation.
Remittances from abroad to your NRO account are not permitted under Indian law. If someone tries to send you money from outside India, ask them to send it to your NRE account instead. Your bank will reject any foreign currency deposit to your NRO account.
Opening an NRE account if you need one
If you receive money from abroad or hold foreign currency, you will need an NRE account in addition to your NRO account. You can open an NRE account at the same ICICI branch where you converted your savings account to NRO. Bring the same documents (proof of non-resident status, passport, address proof) and ask the account officer to open a new NRE savings account.
The NRE account opening process is similar to the NRO conversion and usually takes 3 to 5 business days. Once both accounts are active, you can use your NRO account for rupee income earned in India and your NRE account for foreign currency or money brought from abroad. Many non-residents maintain both accounts for this reason.
ICICI may offer to link your NRO and NRE accounts so you can transfer money between them through online banking. Ask the account officer about this option when you open the NRE account.
Frequently Asked Questions
Can I convert my account to NRO if I am still in India but planning to move abroad?
No. ICICI requires proof that you are currently a non-resident—meaning you have left India and hold a visa or work permit in another country. If you are still in India, you cannot convert to NRO yet. Once you move abroad and have proof of your new residential status, you can request the conversion.
Will my account number change when I convert to NRO?
No. Your account number, branch code, and IFSC code all stay the same. Only the account type changes in the bank's system. Any standing instructions, automatic payments, or direct deposits linked to your account will continue to work after conversion.
What happens to my existing balance when I convert to NRO?
Your balance remains unchanged. The money in your account stays there, and you can continue to use it as normal. The conversion only changes the account type and the rules that apply going forward.
Can I convert back to a regular savings account if I return to India?
Yes. Once you return to India and become a resident again, you can visit your ICICI branch and request to convert your NRO account back to a regular savings account. Bring proof of your return to India, such as your passport showing your re-entry date or a residential address proof.
Do I need to close my NRO account if I move back to India?
No, but you must convert it back to a regular savings account. Keeping an NRO account after you become a resident again can cause complications with tax filings and may trigger questions from the bank. Contact your branch to convert it as soon as you return.