The largest private sector lender ICICI bank has decided to hike its interest rates on Foreign Currency Non-Resident External (Banks) deposits and Non Resident External (NRE) term deposits with effect from July 1.

The bank said in a press release issued here that from now, the FCNR (B) deposits in Euro, having a maturity of one to two years, will now attract an interest rate of 4.64 percent against 4.34 percent a month ago.

For deposits in US Dollars, having the same maturity, the revised rate is 2.56 percent against 2.41 percent in the previous month while for Pound the new rate stands at 5.7 percent, the bank said.

For NRE deposits having a maturity 12-18 months, as compared to 3.16 last month, the rate has been revised to 3.31 percent.