ICICI Bank raises NRI deposit ratesSeptember 22nd, 2008 - 11:58 pm ICT by IANS
Mumbai, Sep 22 (IANS) India’s largest private sector lender ICICI Bank announced late Monday evening an increase in its interest rates on its NRE and FCNR deposits by 50 basis points, effective Sep 17.”The one-year NRE deposit rate has been increased by 50 bps to 3.7 percent. For FCNR(B) deposits denominated in US dollar, the interest rate for one-year has been increased by 50 bps to 2.96 percent whereas for FCNR(B) deposit denominated in British pound, the rate has been increased to 5.77 percent,” it said in a release.
The bank has also made similar revisions in deposits made in currencies like euro, Japanese yen, Australian dollar and Canadian dollar.
The decision comes in wake of the Reserve Bank of India’s recent measures to alleviate transient pressure after the fall in the Wall Street.
- SBI, PNB hike interest rate on NRE term deposits (Lead) - Dec 27, 2011
- Bank of India raises interest rates on NRE term deposits - Dec 29, 2011
- SBI cuts interest rates on NRE deposits by 0.50 percent - Sep 05, 2012
- PNB raises interest rate on NRE term deposits - Dec 27, 2011
- SBI hikes deposit rates by 25-75 bps, keeps base rate steady - Sep 30, 2010
- Union Bank hikes lending rate by 50 bps - Dec 27, 2010
- SBI to hike lending rates, loans get dearer - Apr 19, 2011
- PNB hikes interest rate on fixed deposit by 0.25 percent - Aug 02, 2012
- ICICI Bank hikes lending, deposit rates - Dec 04, 2010
- Banks lower interest rates taking cues from RBI policy - Apr 19, 2012
- SBI, Allahabad Bank cut interest rates - Apr 23, 2012
- Union Bank raises base rate by 50 bps to 8.5 percent - Oct 15, 2010
- Union Bank of India hikes base rate by 50 basis points - Aug 06, 2011
- South Korea's foreign currency deposits grow - Aug 07, 2012
- PNB, Allahabad Bank hike lending, deposit rates - Jul 29, 2011