Offers 7.50% on term-deposits for tenor above 2 years upto 3 years
Mumbai: ICICI Bank today announced an increase in interest rates of term-deposits of less than Rs 1 crore by upto 25 basis points. Effective from November 15, 2018, the rate hike is applicable across various tenors for domestic term-deposits. It is also applicable for Non Resident Ordinary (NRO) & Non Resident External (NRE) term-deposits.
With this increase, the Bank offers a peak interest rate of 7.50% on term-deposits with a maturity of above 2 years upto 3 years.
Pranav Mishra, Senior General Manager & Head – Retail Liabilities Group, said, “With the prevailing volatility in financial market, we see renewed interest by customers to invest in fixed deposits which offer a combination of attractive interest rates, liquidity and assured returns. The 2-3 years tenor offers customers an opportunity to invest at a higher interest rate of 7.50% p.a. (8.00% p.a. for senior citizens). As a prudent asset allocation strategy, we feel customers should definitely look at capitalising on this opportunity.”
ICICI Bank offers term-deposits with various maturities starting as low as 7 days and upto 10 years. It also offers a 50 basis points higher interest rate to senior citizens across term-deposits of all maturities.
Customers can open a term-deposit at any of the Bank’s branches. In addition, they can conveniently open a deposit from the comfort of their home/office or on-the-go, using the Bank’s internet and mobile banking platforms as well as from ATMs and phone banking.
The new term-deposit rates effective from November 15, 2018 are as below:
* NRE rates applicable for tenure of 1 year and above only.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
Swiggy hosts ‘Gigabytes’, its first Hyperlocal Innovation Summit focused on solving convenience for the Next Billion
Making Photos And Videos Appealing Is Important For High Instagram Engagement
Dimitri Vegas & Like Mike, David Guetta, Afro Bros, Daddy Yankee, Natti Natasha team up for reggaeton summer slammer ‘Instagram’
ASCI UPHELD COMPLAINTS AGAINST 299 ADVERTISEMENTS OUT OF 489. 151 OTHER ADVERTISEMENTS PROMPTLY WITHDRAWN, 39 WERE NOT OBJECTIONABLE
Snapdeal launches Dhanteras e-store
2014 The Global Indian New Network (TGINN)