ICICI Bank revises NRE FCNR rates

Mumbai, July 6 (UNI) Private banking major ICICI Bank today announced that it has revised its interest rates on Non Resident (External) NRE Fixed Deposits and (Foreign Currency Non Resident) FCNR Deposits, effective from July 1.

The interest rates on NRE fixed deposits have been increased by up to 16 basis points (bps) for various maturities, an ICICI Bank release said here today.

Interest rate for 1-year NRE fixed deposits now stands at 5.4 per cent per annum. Interest rates on 1-year FCNR Deposits denominated in US dollars have been increased to 4.68 per cent per annum.

Interest rates on GBP (British Pound) denominated and Canadian Dollar (CAD) denominated FCNR deposits have been increased by upto 27 bps and 16 bps respectively for various maturities.

UNI