ICICI Bk hikes FCNR rates by 25 bps

ICICI Bank has increased interest rates on FCNR deposits for all currencies, except Japanese Yen, across all maturities by 25 basis points. The new rates came into effect from March 29, the bank said in a release today.

Interest rates on deposits in US Dollar 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%, 5.13%, 5.11%, 5.11% and 5.11%, respectively, the statement said.

Similarly, interest rates on deposits in British Pound would go up to 4.67%, 4.71 %, 4.73%, 4.72% and 4.70%, respectively, across all five maturity periods, the release added.