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ICICI Bank was promoted by ICICI Limited in 1994. ICICI Bank is currently the largest private sector bank in India with total assets amounting to Rs.6,461.29 billion as of March 2015. ICICI Bank has around 4,070 branches besides 13,359 ATMs across the country.
ICICI Bank offers a wide range of products and services to both retail and corporate customers by various delivery channels and companies. ICICI Bank offers fixed deposit schemes for NRIs at attractive rates of interest. While NRE fixed deposits have a minimum and maximum period of one year and ten years respectively, NRE recurring deposits are accepted for 12 months (minimum) and 10 years (maximum). Interest for NRE deposits with monthly pay-outs is paid at a discounted rate. NRO Recurring Deposits have a minimum period of 6 months and a maximum period of 10 years. A customer can avail of loans up to 85% of his or her FCNR deposit (up to Rs.500 lakh) at attractive interest rates.
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The following table shows the interest rates* offered for NRE Fixed deposits
| Maturity Period | Interest Rate (%) |
| 1 year to 389 days | 6.75 |
| 390 days to 2 years | 6.75 |
| 2 years 1 day upto 5 years | 6.5 |
| 5 years 1 day upto 10 years | 6.5 |
* p.a after quarterly compounding
The following table shows the interest rates* offered for NRO Fixed deposits
| Maturity Period | Rate of Interest (% p.a.) - General | Rate of Interest (% p.a.) - Senior |
| 6 months | 6 | 6.5 |
| 9 months | 6.25 | 6.75 |
| 12 months | 6.75 | 7.25 |
| 15 months | 6.75 | 7.25 |
| 18 months | 6.75 | 7.25 |
| 21 months | 6.75 | 7.25 |
| 24 months | 6.75 | 7.25 |
| 27 months | 6.5 | 7 |
| 30 months | 6.5 | 7 |
| 33 months | 6.5 | 7 |
| 36 months | 6.5 | 7 |
| Above 3 years upto 5 years | 6.5 | 7 |
| Above 5 years upto 10 years | 6.5 | 7 |
* Interest Rates are subject to change from time to time
NRIs can opt to retain their funds in a foreign currency to earn good returns by availing of the FCNR Fixed Deposits. Customers can benefit from higher returns on a foreign currency than local deposits and avoid any foreign currency exchange risk. The interest earned is tax free in India. Customers can open an FCNR account in SGD, GBP, USD, JPY, CAD, EUR, AUD, CHF and HKD.
The following table shows the interest rates offered for FCNR deposits by ICICI bank
| Period | USD | GBP | Euro | JPY | CAD | AUD | CHF | SGD | HKD |
| >= 12 months < 24 months | 2.43 | 1.21 | 0.03 | 0.1 | 2.03 | 2.82 | 0.01 | 1.8 | 2.11 |
| >= 24 months < 36 months | 2.59 | 1.44 | 0.12 | 0.11 | 2.15 | 2.96 | 0.01 | 2.02 | 2.33 |
| >= 36 months < 48 months | 2.71 | 1.54 | 0.24 | 0.12 | 2.28 | 3.12 | 0.01 | 2.23 | 2.51 |
| >= 48 months < 60 months | 2.81 | 1.64 | 0.38 | 0.14 | 2.38 | 3.38 | 0.01 | 2.39 | 2.64 |
| 60 months | 2.91 | 1.73 | 0.52 | 0.16 | 2.47 | 3.51 | 0.01 | 2.53 | 2.76 |
* Interest Rates are subject to change from time to time
Updated on 25 Sep 2017
ICICI is one of the foremost financial companies in the country offering numerous banking products and services. Among these is the FCNR or Foreign Currency Non-Repatriable deposit accounts. Deposits into these accounts can be made from a number of currencies and interest amount is applicable based on the tenure chosen. These rates have recently been revised.
The revised rates for CHF or Franc are -
For a tenure that is equal to 12 months and above but below 24 months, the CHF or Franc rate was 0.36 and has now changed to 0.01 and APY or Annual Percentage Yield has changed from 0.36 to 0.01.
For a tenure between 24 months to 36 months, the rate has changed from 0.33 to 0.01 and APY has changed from 0.33 to 0.01.
For a tenure equal to 36 months but below 48 months, the rate has changed from 0.36 to 0.01 and APY has changed from 0.36 to 0.01.
For a tenure equal to 48 months to below 60 months, the rate has changed from 0.4 to 0.01 and APY has changed from 0.4 to 0.01.
For a tenure of 60 months, the rate has changed from 0.47 to 0.01 and APY has changed from 0.47 to 0.01.
The revised rates for SGD or Singapore Dollar are -
For a tenure that is equal to 12 months and above but below 24 months, the SGD rate was 2.59 and has now changed to 2.34 and APY or Annual Percentage Yield has changed from 2.59 to 2.34.
For a tenure between 24 months to 36 months, the rate has changed from 2.78 to 2.53 and APY has changed from 2.8 to 2.55.
For a tenure equal to 36 months but below 48 months, the rate has changed from 2.92 to 2.69 and APY has changed from 2.94 to 2.36.
For a tenure equal to 48 months to below 60 months, the rate has changed from 3.07 to 2.82 and APY has changed from 3.09 to 2.84.
For a tenure of 60 months, the rate has changed from 3.17 to 2.55 and APY has changed from 3.2 to 2.57.
1st July 2016
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