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Saturday, December 2, 2023

ICICI Bank launches dollar bond, deposit-linked loan for NRIs at GIFT City


Private sector lender has launched two new products – loan against deposits and bonds – for non-resident Indians at its branch in .

The bank is the first to offer these products in GIFT City, the lender said in a release.

The loan against deposits facility is similar to a loan in foreign against a deposit in India and includes non-resident external fixed deposits in rupees, said. Clients may avail of the facility for short-term cash requirements without premature closure of term deposits which entails penalties.

Up to 95 per cent of the deposit value can be availed of using this loan and customers can borrow for flexible tenures at fixed or floating interest rates.

For bonds, is offering over 50 marquee issuers and companies for such securities, the bank said.


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