One of the leading banks of the country ICICI bank recently rolled out two new savings account products for the NRIs. Bank has introduced two products NRI Pro and NRI Premia that will provide value features to the NRI customers.
It has been reported that the NRIs can select from the two types of the account NRE or NRO. NRI Pro product will provide the customer with the facility of priority service, preferential rates on money transfers and banking benefits for family members based in India. Whereas NRI Premia will offer more feature than the NRI Pro, NRI Premia will offer the facilities of the NRI Pro and in addition will provide more dedication towards the customer banking requirements and a travel insurance bouquet* which includes air accident coverage of up to Rs 1 crore. NRI will provide 24X7 assistance to the customers.
After the launch of these products ICICI is now offering three level savings account to NRI customers – Regular, Pro and Prima. Executive Director of the bank reported that that bank serves for about 1.5 million NRI customers across more than 150 countries and process over five million NRI transactions annually. Keeping the requirements of the customers in mind and to offer best product company has come up with these highly regulated and commoditised product.