ICICI Bank hikes interest rates on NRI deposits

Largest private sector bank of the country ICICI Bank on Thursday revised upwards intrest rates on deposits of Non Resident Indians (NRIs).

As per the revised rates, the Non Resident External (NRE) Fixed deposits of maturity period 12 months to less than 18 months, 18 months to less than 24 months, 24 months to less than 36 months will all attract interest rate of 6.43 per cent.

For deposits of 36 months to 120 months, the new interest rates would be 6.45 per cent.

The new rates for Foreign Currency Non Resident (FCNR) deposits in US Dollars for 12 months to less than 24 months will be 5.43 per cent, for 24 months to less than 36 months will be 5.43 per cent, 36 months to less than 48 months will be 5.45 per cent, 48 months to less than 60 months will be 5.47 per cent and for 60 months it will be 5.51 per cent, a release here stated.

Source://Hindustantimes