ICICI Bank hikes NRI deposit rates

April 02, 2005 :  ICICI Bank has revised interest rates on non-resident external savings account and NRE fixed deposit by 0.61 per cent and 0.47 per cent respectively across various maturities.

The bank has also increased FCNR deposit rates for foreign currency non-resident deposits US dollars by up to 46 basis points across various maturities, the bank said in a release on Saturday.

Under the revised interest rates, NRE savings account will attract an interest of 3.40 per cent per annum compared to the earlier interest rate of 2.79 per cent.

Interest rates on NRE fixed deposit for 36 months to 120 months will be 5.01 per cent as opposed to the earlier rate of 4.54 per cent, it said.

US dollar FCNR deposits for 36 months have been revised to 4.26 per cent from the earlier interest rate of 3.80 per cent, it said.