ICICI Bank huge GIC rates jump to respectability? | GIC discussions | Discussion forum

I just noticed that ICICI Bank's non-redeemable GIC rates made some huge jumps a couple of weeks ago. They were so big that the script that automatically updates the GIC comparison table flagged it as out of the normal change range.

* 1-year GIC at 2.35%, up from 1.35%
* 2-year GIC at 2.60%, up from 1.55%
* 3-year GIC at 2.65%, up from 1.65%
* 4-year GIC at 2.70%, up from 1.85%
* 5-year GIC at 3.00%, up from 2.05%

So, they're up to be competitive with Tangerine's rates, although of course still quite a bit behind the usual leaders.

I figure that this jump is noteworthy as it reinforces the general trend of continuously increasing GIC rates (well, other than Motive Financial's recent drop).