ICICI Bank NRI Account Interest Rates

Hello sir I would like to know about the interest rate given by ICICI Bank of NRI Account so please provide me suitable information about the same.

NRE Fixed Deposits are a high-return Rupee deposit option to invest your foreign income.

With NRE Fixed Deposits, you earn high tax free interest and get complete repatriability on your foreign earnings plus loan upto 90% of your deposit at attractive interest rates

NRE (Non–Resident External) Fixed Deposit Account

Key Highlights

Rupee fixed deposit for foreign earnings.

Enjoy full repatriability of investment including interest

Interest earned is not taxable in India.

Loans of up to 90% of your deposit at attractive interest rates

NRE Saving

Interest for all rupee savings accounts will be calculated on the daily closing balances maintained in the account.

W.e.f. May 3, 2011, the interest will be calculated @ 4.0% per annum instead of 3.5% per annum.

Interest so calculated is rounded off to the nearest rupee, ignoring fractions of a rupee.

With effect from December 30, 2013, interest will be paid every half year in June and December.

Interest for the period September 1, 2013 to December 29, 2013 will be paid in December 2013 and interest for period December 30, 2013 to June 29, 2014 will be paid in June 2014.

NRO Savings

W.e.f. April 1, 2010, interest for all rupee savings accounts will be calculated on the daily closing balances maintained in the account.

W.e.f. May 3, 2011, the interest will be calculated @ 4.0% per annum instead of 3.5% per annum.

Interest so calculated is rounded off to the nearest rupee, ignoring fractions of a rupee.

With effect from December 30, 2013, interest will be paid every half year in June and December.

Interest for the period September 1, 2013 to December 29, 2013 will be paid in December 2013 and interest for period December 30, 2013 to June 29, 2014 will be paid in June 2014.

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Answered By StudyChaCha Member