ICICI Bank announced today that it has revised the interest rates on its NRE Fixed Deposits and FCNR(B) Deposits with effect from October 17, 2008. The one year NRE deposit rate has been increased to 4.96%p.a. For FCNR(B) deposits denominated in USD, the interest rate for one year has been increased to 4.21%p.a. where as for FCNR(B) deposit denominated in GBP, the rate has been increased to 6.77% p.a.
About ICICI Bank Ltd:
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of about USD 113 billion at June 30, 2008. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries including India.
