Certificate of Deposit

Question: I have NRI savings account with ICICI bank,I have some questions.please read inside?

I have NRI savings account with ICICI bank,I have some questions.Since I live in USA and not visiting often to india and also didn’t do any transaction with them even online since time they disabled my log in ID and password.I know I can reactivate by calling them.Now I have another problem that I have Certificate Of Deposit that already matured in 2007.This COD was given by my mother and its in her name.How can I transfer that all the money from COD to my NRI savings account?what is the requirement and what else I should do?Please reply in details and only if you really have good answer.Thank you in advance.

Answer: Your NRI earnings as the name suggests are earnings which are outside india and not in Indian Rupees. So the question arises that whether your Certificate Of Deposit is in indian rupees? or generated in india?
If any of the answers to the above two questions is or are yes then i am very sorry to say but its not possible to transfer your money in NRI account.

Whenever you would be re-visiting India for some purpose, please do the following, go to the bank branch and open a NRO account. This account is for income of NRI generated within India and in indian rupees.
The interest amount you generate in a NRO account is taxable at source or TDS at 30.8% (rates may change at any notice)
Along with this activate your “Third Party Transfer” such that you can transfer money from other accounts to your NRO account when generated in rupees and in india.

Also do not fail to log-in into your internet banking account once in 90 days such that they wont disable your log-in and password

Investing Information : How to Invest in a CD