| ICICI Bank cuts deposit rates by 25-50bps |
| BS Reporter / Mumbai November 6, 2007 |
| Close on heels of State Bank of India, ICICI Bank, the country's second largest bank today cut interest rates on its special deposit scheme by 25 to 50 basis points. The private sector bank has aligned interest rates for deposits of greater than 1 year to 8%. The interest rate on the 390 day deposit will now be pegged at 8.5%, and the interest rate on the 590 day deposit scheme is 8.75%. The bank has also discontinued the 890 day special deposit scheme. The changed interest rates are effective from November 12. State Bank of India (SBI), the country |
