ICICI Bank increases NRI deposit rates by 25 bps

ICICI Bank on Thursday increased interest rates on FCNR deposits for all currencies, other than the Japanese Yen, across all maturities by 25 basis points.

The new rates came into effect from March 29, it said in a release.

Interest rates on deposits in dollar denominations for a period of one year to less than two years, two years to less than three years, three years to less than four years, four years to less than five years and five years would go up to 5.15 per cent, 5.13 per cent, 5.11 per cent, 5.11 per cent and 5.11 per cent respectively, it said.

Similarly, interest rates on deposits in Great Britain Pound would go up to 4.67 per cent, 4.71 per cent, 4.73 per cent, 4.72 per cent and 4.70 per cent respectively, in all five maturity periods, the release added.