ICICI Bank Canada offers unprecedented interest rates for HiSAVE Savings Account - with no conditions

    TORONTO, June 21 /CNW/ - ICICI Bank Canada is pleased to announce an
increase to its Canadian and US Dollar HiSAVE Savings Account interest rates.
The new rates are 4.50% per annum on the Canadian Dollar and 5.00% per annum
on U.S. Dollar HiSAVE Savings Account. Both rates were effective June 18,
    ICICI Bank Canada's higher rates are supplemented by the HiSAVE Savings
Account's features of no monthly fees, no minimum balance requirement, and
available exclusively through its online platform to all its Canadian retail
    "HiSAVE is an online offering with no strings attached. It is
hassle-free, extremely attractive and very straightforward," says Hari Panday,
President & CEO of ICICI Bank Canada. "Through such an offering, we bring
"best-in-class" interest rates to our online customers coast to coast".
    HiSAVE Savings Account can be opened in Canadian and U.S. Dollars and
operated through the Internet and telephone banking channels; in addition,
customers need not close their existing bank accounts - they can link their
existing bank accounts at other financial institutions with accounts opened at
ICICI Bank Canada.
    In addition to the above changes, ICICI Bank Canada also increased rates
of interest on Canadian and U.S. Dollar GICs, effective June 18, 2007. All
current interest rates are available on icicibank.ca.

    About ICICI Bank Canada:

    ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited, is a
full-service direct bank with an asset base of over C$2 billion, offering a
comprehensive suite of personal, commercial and cross-border banking products
and services. The Bank is supported by a state-of-the-art electronic banking
platform (icicibank.ca), a 24-hour toll-free customer contact centre and
proprietary ABMs. It has established its branch network in the Greater Toronto
Area (Brampton, Downtown Toronto, Gerrard Street East, and Scarborough) and
Greater Vancouver Regional District (Downtown Vancouver and Surrey).

    About ICICI Bank Limited:
    ICICI Bank Limited is India's second largest bank, and largest private
sector bank in the country, with an asset base of over US$79 billion. ICICI
Bank Limited serves a growing customer base through a multi-channel access
network of over 950 branches and 3,300 ABMs, call centers and internet banking
(icicibank.com). ICICI Bank Limited was awarded "Best Bank of the Year 2006"
in India by Business India - the Magazine of the Corporate World. ICICI Bank
currently has subsidiaries in the United Kingdom, Russia and Canada, branches
in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai, and representative
offices in the United States, United Arab Emirates, China, South Africa and
Bangladesh. The UK subsidiary has established a branch in Belgium.

For further information:

For further information: Media Contact: Lisa Kember, Hyperactive
Communications, (905) 278-5500 x222 or (416) 458-5409,
lkember@gethyperactive.com; ICICI Bank Canada: Ravi Balchandani, Senior
Manager, Marketing & Public Affairs, (416) 847-7905,

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