ICICI Bank hikes NRE deposit rate to 6.50%

ICICI Bank has increased its one-year NRE term deposit rate from 3.82 per cent to 6.50 per cent. Customers investing over Rs 15 lakh and up to Rs 50 lakh get another 0.50 per cent, the bank said. Those investing over Rs 50 lakh and up to Rs 1 crore get 8.25 per cent.

Other top banks such as SBI and HDFC Bank have increased their NRE term deposit rates of the same tenor to between 9 per cent and 9.25 per cent.