Indian Bank ICICI increases NRI deposit rates

New Delhi, March 29, 2006

• Indian Bank ICICI has announced that it has increased its interest rates on FCNR deposits. effective from March 29, 2006.
• HDFC Bank and Bank of Baroda had also hiked the interest rates on its FCNR Deposits.
• Interest rates on FCNR deposits for all currencies (other than JPY) and tenures have been increased by 25 bps. With this increase the current interest rate for 1 year FCNR deposits denominated in US Dollars stands at 5.15% pa, while the rates for one year FCNR deposits denominated in Euro has been revised to 2.98% from 2.73% earlier.
• FCNR deposits, The rates for one year, denominated in pounds has been revised to 4.67% from 4.42% earlier.
• The interest rates for deposits in all these currencies have been hiked by 0.25 basis points after the hike in FCNR Deposit rates announced by RBI on March 28, 2006.

Any comments on this article or you have any news: Click here

Disclaimer
NRIinternet.com will put up as many of your comments as possible but we cannot guarantee that all e-mails will be published. We reserve the right to edit comments that are published.