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Leading private sector lender ICICI Bank's UK arm has launched HiSAVE Remittance Account, an online savings account specifically for remittance of money.
The account will offer dual-benefit of money transfers to India and will also earn interest on the balance maintained.
HiSAVE Remittance Account will be an online-only account and will earn 1.50% interest on any balance maintained in the account, the lender said in a release.
“They will also have the option to set a “Rate Block” on transfers to India, which means that customers can set a minimum exchange rate at which to transfer and ICICI Bank will ensure that money is sent only at that exchange rate or higher,” it added.
