• Icici Bank Savings Account Interest Rate Uk
• Icici Bank Savings Account Interest Rate Near Me
• Icici Bank Savings Account Interest Rate 2020

ICICI Bank interest rate: ICICI Bank has cut the interest rate on saving deposits by 25 basis points (bps). The new rates will come into effect from June 4, i.e Thursday, ICICI Bank said.

The private sector lender has cut the interest rate on all deposits of less than Rs 50 lakh to 3 percent, a reduction of by 25 bps against the existing 3.25 percent. For deposits of Rs 50 lakh and above, the account holders will earn an interest of 3.50 percent, down from 3.75 percent currently.

• With effect from 4th June 2020, the savings account interest rate applicable would be: RBI Policy Repo Rate effective May 22, 2020 is 4.00%. 'ICICI Bank External Benchmark Lending Rate' (I-EBLR) is referenced to RBI Policy Repo Rate with a mark-up over Repo Rate. I-EBLR is 7.70% p.a.p.
• Sep 17, 2019 Although I am not a fan of their service, ICICI does have some competitive GIC rates at present. The 5 year rate is 3%, a rate that is hard to find today.
• Savings Bank Account interest will be calculated on the basis of end of day account balance maintained in savings bank account, at the rate of interest as specified by ICICI Bank time to time With effective from 4th June 2020, the savings account interest rate applicable would be.

ICICI Bank Savings Account ICICI Bank offers multiple types of savings account on the basis of a customer’s requirement. The rate of interest varies from 3% p.a. On the basis of the account you choose and the geographical location of your home branch, you will be required to maintain a minimum balance of Rs.1,000 to Rs.10,000.

In the meantime, the State Bank of India (SBI) has also reduced its savings deposit interest rate by 5 basis points (bps) to 2.7%. Flush with liquidity and comparatively less demand for loans due to the lockdown, most lenders have resorted to lowering deposit rates.

SBI Chairman Rajnish Kumar has already said that in the current scenario, interest rates are going to reduce. “The reduction in interest rates will be for both borrowers and depositors,” Kumar said recently.

SBI, on May 27, had slashed its retail term deposit rates by up to 40 bps across all tenors.

For deposits maturing in seven days to 45 days, SBI is offering an interest rate of 2.90 percent as against 3.30 percent earlier. It revised the rate for fixed deposits in 180 days to 210 days bracket to 4.40 percent from 4.80 percent earlier.

The interest rate for deposits maturing in 5 years to 10 years has been cut to 5.40 percent from 5.70 percent earlier. The bank has also cut interest rates for bulk deposits ( ₹2 crores and above) by up to 50 basis points.

ICICI Bank has also announced that it has extended the moratorium on its loans and credit card dues.

Customers need to apply to avail of the benefits of the moratorium. If they fail to apply, loan installments will continue to be debited every month as per the existing process, the bank said.

Icici Bank Savings Account Interest Rate Uk

The moratorium facility will be granted for up to a period of three months, for all loans/facilities falling due for payments between June 1, 2020, and August 31, 2020.

Icici Bank Savings Account Interest Rate Near Me

New Delhi: Days after the SBI and HDFC reduced interest rate on home loans, lending major ICICI Bank on Friday slashed its home loan interest rate to 6.70 per cent. Issuing a statement, the bank said that the revised interest rate -- the lowest in 10 years by the bank has come into effect March 5.

In the statement, the bank further added that the revised interest rate can be availed by clients for home loans up to Rs 75 lakh. Apart from this, for loans above Rs 75 lakh, interest rates are pegged at 6.75 per cent onwards. The bank also added that these revised rates will be available till March 31.

'We see resurgence in demand from consumers, who want to buy homes for their own consumption, in the past few months,' said Ravi Narayanan, Head - Secured Assets, ICICI Bank.

'We believe that this is an opportune time for an individual to buy his or her dream home, considering the prevailing low interest rates. We believe that with our completely digitised home loan process, including instant sanction for customers of any bank, everybody will find it immensely convenient to avail a home loan with us,' he added.

The development comes days after the SBI and the HDFC took similar steps and reduced the interest rate on home loans.

In November 2020, the ICICI Bank became the first private sector bank in the country to cross Rs 2 trillion (Rs 2 lakh crore)-mark in mortgage loan portfolio. Further, the bank informed that during its mortgage disbursements increased in Q3-2021 over Q2-2021 and reached an all-time monthly high in December 2020.

Icici Bank Savings Account Interest Rate 2020

(With inputs from IANS)