ICICI Bank hikes NRE rates

Mumbai, Apr 19 (UNI) ICICI Bank today announced an upward revision of interest rates on non-resident external (NRE) fixed deposits with immediate effect.

according to a release, the interest rates on NRE fixed deposits were increased by upto 18 basis points for various maturities starting one year to ten years.

With this increase, the current interest rate for NRE fixed deposits across all tenures stands at 6.30 per cent annually.

This follows 25 points revision in the ceiling of NRE Deposits announced by Reserve Bank in its annual policy yesterday.

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