ICICI Bank decreases short-term deposit rates

ICICI Bank has reduced the interest rates on its short-term deposits by 25 basis points on deposits for tenors 181-365 days and by 50 basis points for tenors 366 days up to two years.

The interest rate for tenors 181-365 days is 6.25 per cent and for tenors 366 days up to 2 years will be 6.25 per cent.

The bank has reduced rates on single deposits of value less than Rs 15 lakh by 25-50 basis points for select maturities up to two years with effect from August 9, 2007. The interest rates on special deposit schemes will, however, remain unchanged.