ICICI Bank revises NRE, FCNR deposit rates

India’s second largest bank ICICI Bank today announced that it has revised the  interest rates on its NRE Fixed Deposits and FCNR(B) deposits, with effect from November 18, 2008. The one year NRE deposit rate has been increased by 75  basis points to 4.92 per cent.

For FCNR(B) deposits denominated in USD, the interest rate for one year has been increased by 75 basis points to 4.17 per cent. Whereas for FCNR(B) deposit denominated in GBP, the rate has been increased to 7.01 per cent.