ICICI Bank revises
NRI deposit rates
Mumbai, Dec. 01, 2005
UNI
ICICI Bank today announced an upward revision in the
interest rates for non-resident external (NRE) fixed
deposits and foreign currency non-resident (FCNR)
deposits, with effect from today.
While the interest rates on NRE fixed deposits increased
by upto ten basis points for various maturities, the
rates on one-year FCNR deposits, denominated in USD,
went up by five basis point. The interest rates on
euro denominated FCNR deposits also increased by upto
23 basis point for various maturities.
The bank also increased the maximum
tenure of FCNR deposits upto five years and introduced
FCNR deposits in Australian and Canadian dollar.
The hike in NRI's deposits follows the
hardening of interest rates in major global markets,
such as in US.