ICICI Bank reduces lending and deposit rates with effect from April 24, 2009

ICICI Bank Ltd has announced a reduction of 0.50% in its Floating Reference Rate (FRR) for consumer loans (including home loans) with effect from April 22, 2009.
The revised FRR will be 13.25% p.a. as against 13.75% p.a. at present. All the existing floating rate customers will be benefited by the reduction in FRR.
ICICI Bank has also announced a reduction of 0.50% in its Benchmark Advance Rate (I-BAR) with effect from April 22, 2009. The revised I-BAR will be 16.25% p.a. as against 16.75% p.a. at present. ICICI Bank has also announced a reduction in interest rates for various tenors of retail
Fixed Deposits by 0.25% to 0.50% with effect from April 24, 2009.

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