Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
21 January, 2019 06:39 IST
ICICI Bank raises retail term-deposit interest rates by upto 25bps
Source: IRIS | 15 Nov, 2018, 09.55AM
Comments  |  Post Comment

ICICI Bank announced an increase in interest rates of term-deposits of less than Rs 10 million 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. 

Shares of the company declined Rs 3.25, or 0.89%, to trade at Rs 363.35. The total volume of shares traded was 90,876 at the BSE (9.47 a.m., Thursday).



I C I C I Bank Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Ratnamani Metals & Tubes receives order worth Rs 2 bn - 18-Jan-2019 15:59
Aurobindo Pharma to acquire portfolio of oncology injectables products - 18-Jan-2019 13:47
Reliance Ind Q3 earnings up 8.8%; GRM's at USD 8.8/bbl - 18-Jan-2019 13:08
Announcement under Regulation 30 (LODR)-Change in Directorate - 18-Jan-2019 11:14
Zydus receives final approval for Acetazolamide ER capsules - 17-Jan-2019 13:27
OnMobile Global renews its contract with Telefonica Moviles Espana, SAU (Telefonica) - 17-Jan-2019 10:14
Suven Life Sciences secures 2 overseas product patents - 16-Jan-2019 13:45
Texmaco Rail & Engineering receives orders worth Rs 2.62 bn - 16-Jan-2019 12:59
Dr Reddy's announces completion of USFDA audit of formulation facility - 16-Jan-2019 10:15
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer