Fixed deposits are an ideal option for investment purposes because your returns are guaranteed. Fixed deposits are flexible in nature. You can choose a tenure that works best for you. With a fixed deposit, you get to earn a higher rate of interest.
For an ICICI GBP foreign currency fixed deposit, your tenure options range between 1 month and 36 months. ICICI offers you an auto-renewal option at maturity. Due to this convenient facility, you will not miss out on earning your interest amount even for a single day.
The multi-currency feature in the ICICI, Singapore Fixed Deposits allows for this deposit to be denominated in 6 different foreign currencies. ICICI is one of the few banks in Singapore that provides competitive interest rates for the deposit denominated in the Great Britain Pound (GBP) currency for all tenures offered by the bank. Additionally, the bank also provides an array of flexible loan tenures that include 1 month, 3 months, 6 months, 9 months, 12 months, 24 months and 36 months, a range of options that not many banks on the island provide its customers. In addition to this, ICICI, Singapore also provides its customers with a Personalised Service where at any point in time, if you wish to know information on your fixed deposit you can contact the Relationship Managers or the Customer Service Managers or simply visit the bank branch. You could also write your queries and mail the bank for a prompt service. The bank also provides its customers with the option to either open the fixed deposit account in a single name or in joint names. You just need to follow 3 simple steps to open a foreign currency fixed deposit account with the bank.
At the time of making a fixed deposit, you can set prior instructions on how to proceed with the maturity amount. The fixed deposit can either be in the name of a single deposit holder or multiple deposit holders.
Apart from Great Britain Pounds, you can also opt for other foreign currencies that include United States Dollars, Singapore Dollars, Euro, Australian Dollars, and Canadian Dollars.
Interest Rate for ICICI GBP Foreign Currency Fixed Deposit
The rate of interest for individuals ranges from 0% to 0.5% p.a. and for non-individuals it ranges from 0% p.a. to 0.3% p.a. The interest rates are subject to change without any prior notice. Also, interest rates depend on your tenure and the amount you deposit.