TORONTO, Aug. 13 /CNW/ - ICICI Bank Canada announced today the changes in
its Canadian dollar deposit rates, effective August 13, 2004.
Personal Savings Account rate increases by 0.50 per cent to 2.50 per cent
Personal Chequing Account rate decreases by 1.25 per cent to 0.75 per cent.
The Bank pays interest on non-commercial deposit accounts with balances, over
CAD $500. Interest is computed on daily closing balances and paid monthly.
The term deposit rates for amounts of $25,000 and over:
30 to 59 day term deposit rate increases 0.40 per cent to 2.50 per cent;
60 to 89 day term deposit rate increases 0.40 per cent to 2.50 per cent;
90 to 179 day term deposit rate increases 0.35 per cent to 2.50 per cent;
90 to 179 day term deposit rate increases 0.35 per cent to 2.50 per cent;
180 to 364 day term deposit rate increases 0.05 per cent to 2.50 per
cent;
One-year term deposit rate increases 0.15 per cent to 2.65 per cent; Two-
year term deposit rate increases 0.15 per cent to 3.15 per cent; Three-year
term deposit rate increases 0.05 per cent to 3.65 per cent; Four-year term
deposit rate remain unchanged at 4.00 per cent; and Five-year term deposit
rate remain unchanged at 4.25 per cent.
Information on other term deposit rates is available at
www.icicibank.ca About ICICI Bank Canada: ICICI Bank Canada is a fully owned subsidiary of
ICICI Bank Limited, a full-service Canadian financial institution and a member
of Canada Deposit Insurance Corporation ("CDIC"). ICICI Bank Canada branches
are currently located in Toronto and Brampton areas; supported by state-of-the
art electronic banking platform (
www.icicibank.ca); proprietary ATMs; and
offers a comprehensive suite of retail, commercial and trade finance products
to both retail and commercial customers in Canada. ICICI Bank ATM services in
Canada are currently available in four languages: English, Punjabi, French and
Chinese.
About ICICI Bank Limited: ICICI Bank is India's second largest bank with
an asset base of USD 28 billion. ICICI Bank provides a broad spectrum of
financial services to individuals and companies. This includes mortgages, car
and personal loans, credit and debit cards, corporate and agricultural
finance. The Bank services a growing customer base of more than 10 million
customers' accounts through a multi-channel access network. This includes over
470 branches and about 1800 ATMs, call centers and Internet banking
(
www.icicibank.com).
ICICI Bank has two wholly-owned subsidiaries, ICICI Bank UK Limited and
ICICI Bank Canada, an Offshore Banking Branch in Singapore, an Offshore
Banking Unit at SEEPZ, Mumbai, representative offices in the US (New York),
China (Shanghai) and Dubai. The Bank recently inaugurated its representative
office in Dhaka, Bangladesh.
