Mumbai: ICICI Bank Ltd on Friday became the latest private bank to raise its deposit rates.
The bank has hiked deposit rates in select maturities by 25-75 basis points (bps). One bps is 0.01 percentage point.
The deposit rate in the 46-60 days tenure has been hiked by 75 bps to 7%, and in the 61-289 days tenure by 75 bps to 7.75%. For one year to 389 day deposit, the rate has been hiked by 50 bps to 8%. The five-year deposit rate has been hiked by 25 bps to 8.5% from 8.25%.
ICICI Bank, however, kept its benchmark lending rate or base rate unchanged at 9.75%.
Andhra Bank hiked its base rate by 25 bps to 10.25%, it said in a release to the stock exchanges.