ICICI HRA – A service worth knowing about
Basically, it’s a remittance product that allows you to send money to India at high rates, while earning 0.5% interest on the balance. It’s a pocket for rupees, let’s say, and you decide how big. No minimum amounts needed.
While you’re watching for the rates to rise in your favour, the account lets you earn a little extra while you wait.
Best part? No queues and clerks, just fill an online application in less than 10 minutes and you’re set.
Good timing as well, since the current rupee-sterling ratio is very favourable to recipients back in India.
Read all about the HiSave Remittance Account here.
- Online-only account opening and management
- Monthly interest on account balance
- No minimum balance required
- Access to money transfer service 24/7, including weekends and bank holidays
- Confirmed exchange rate 24/7
- Instant money transfers to ICICI Bank Ltd. accounts in India
- Transfers within 24 hours to 55,000 bank branches in India
- Service assurance on all money transfers to India
- Withdrawals and deposits can only be made via your linked current account
- No chequebook or debit card
