ICICI Bank cuts deposit rates

ICICI Bank has cut interest rates on its special deposit schemes by 25-50 basis points which will be effective from November 12.
The interest rate on 390-day deposit is cut to 8.50 per cent and that on a 590-day deposit is cut to 8.75 per cent.

The bank has also realigned interest rates for deposits of greater than 1 year up to three years at 8 per cent.

This is the second time in less than a month that the bank has reduced interest rates on special deposits.

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