Signalling hardening of interest rates in the industry,
With this, the bank will now offer 6.75 per cent rate for deposits having 390-days maturity as against 6.5 per cent earlier, ICICI Bank spokesperson said here.
Similarly, deposits having 590-days maturity will now offer an interest rate of 6.75 per cent as against the earlier rate of 6.25 per cent, the spokesperson said.
The hike in deposit rate comes shortly after another leading private sector lender, HDFC Bank recently announced an upto 1.5 per cent hike in its deposit rates across some maturities.
Early this month, government-owned IDBI Bank had also hiked its deposit rates by 0.25 per cent in some tenures.
The country's largest lender, State Bank, however, had said that it may not hike deposit or lending rates atleast till May-June as the bank has surplus liquidity.
"That may not happen till May-June till the liquidity surplus goes away from the system," Bhatt had said.
Banks started hiking their deposit rates apparently due to the tightening of liquidity by the Reserve Bank, which asked banks to park more cash in the mandatory reserve window last month.
The central bank hiked its cash reserve ratio (CRR) by 0.75 per cent to 5.75 per cent sucking out around Rs 36,000-crore liquidity from the system.
With ICICI Bank and HDFC Bank taking the lead, more lenders are likely to follow the suit in the coming days.
Thursday, February 25, 2010
After HDFC Bank, now ICICI hikes deposit rates
Industry Research Reports
LIC Term Insurance or Pvt Life Insurance Term Plan ? Which is the best term insurance in India ? Which Insurance company has the best cla...
આજકાલ કોઈપણ સમસ્યા હોય લોકો એન્ટિબાયોટિક્સ અંગ્રેજી દવાઓ લેવાનું વધુ પસંદ કરતાં હોય છે કારણ કે આજની પેઢીને આપણા જુનવાણી નુસખા વિશે જાણ હોત...
http://www.livemint.com/2007/12/13162756/SBI-UTI-MFs-to-manage-post-of.html New Delhi: Government has appointed PSU mutual funds UTI MF a...
સુરતી લોચો બનાવવાની રીત Surati Locho - સુરતી લોચો લોચો એ ગુજરાતની સૌથી સ્વાદિષ્ટ ચટપટી ખાવાની ચીજો પૈકીની એક ચીજ છે. લોચો બનાવવાની ...
i-Develop Multibagger Stock Performance last year Enter Date Exit Date Bse Code Scri...
NTPC and RIL are fighting a case in the Bombay High Court over gas pricing for the former's Kawas and Gandar power plants....
Global private equity giant The Blackstone Group has announced that it has bought a majority stake in CMS Computers Ltd. Black...
નવાઝ શરીફ સાથે મુલાકાત બપોરે પાકિસ્તાનના વડાપ્રધાન નવાઝ શરીફ અને નરેન્દ્ર મોદી વચ્ચે વાતચીત થઈ ગઈ હતી. બંને નેતાએ લગભગ 26 સેકન્ડ સુધી ...