ICICI Bank Canada announced today that it has launched short-term Canadian dollar GICs.

The GICs are available in three term periods with a one-month rate 3.75%, a three-month rate of 3.80%, and a six-month rate of 4%.

Effective June 19, 2006, the bank also announced that the interest rates earned on US$ HiSAVE Savings Account has increased to 4.25% from 3.5%. Further, ICICI Bank Canada will also deposit a bonus of $20 into the customer’s newly opened HiSAVE Savings Account. The new interest rate will be applicable to both new and existing customers of the bank.

ICICI Bank Canada branches are currently located in the Greater Toronto Area and Downtown
Vancouver.