New fixed interest rate of 6.85% Gross/AER for 1 year - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit
Now earn an even higher rate by opening a HiSAVE Term Deposit.

All you need to open a HiSAVE Term Deposit Account is to have a HiSAVE Savings Account

Key Features and Benefits:

New fixed interest rate of 6.85% Gross/AER* for 1 year and 6.65% Gross 6.76% AER for 6 months with effect from 22nd October 2007.

Open a deposit for a tenure of 6 months or 1 year.

Earn Fixed interest rate throughout the tenure of the deposit.
If you have a HiSAVE Account, you can open a HiSAVE Term Deposit account by submitting a request for opening a HiSAVE Term Deposit by logging into your account or calling us at
08081 31 41 51. HiSAVE Term Deposit would be created within 3 working days from when the request is received by us.
More From ICICI Bank UK plc:

All Comments

(11) Jump to unreadPost a comment
Comments/page:
#1
Its a relatively new bank in th UK. I've not had a problem with them, not to say others haven't. But the main reliabilty is based in this quotation,

"It's important to point out that ICICI Bank is regulated by the [URL="javascript:self.name='main';PopUp('you_popup','/pages/jargon/index.html?in_jargon_term=FSA','350','150')"]FSA[/URL], which means most of your cash up to around £35,000 is protected, so you won't lose your money it if the bank hits financial difficulty. You might just lose sleep trying to get your money transferred. "
#2
gobofraggle
http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=424340&in_page_id=7

"...despite having a presence in the UK for several years, ICICI Bank still does not comply with the UK Banking Code, which sets minimum standards for customer service.

...there is some anecdotal evidence that customers have struggled to receive passwords, to have money transfers happen on time and of people generally tearing their hair out trying to get their savings sorted.

In short, despite the good rate and the fact that others recomend ICICI Bank purely on their high rate (which is undoubtedly a 'best buy'), we're not comfortable recommending that our readers put their hard-earned cash somewhere that so many others are frustrated with. "


I would like to make a point here but am expected to get my head bitten off.

Here goes - I have used this bank for about 12 months and they are brilliant and really helpful on the phone too and as is stated below they are requlated by the FSA so whats the problem? Why so cold?

I think that the reason some websites do not reccomend is more to do with there lack of impartiality than anything else - Richer Sounds got similar treatment a couple of years ago
#3
I've been with them for the past 3 years and not had any problem. Below is clipping from a recent email from ICICI. Clearly says they are now a member of the UK Banking Code.

Dear HiSAVER,

Your HiSAVE Savings Account now comes with the following enhanced features:
1. High interest rate: 6.41% AER /6.23% Gross
2. Enhanced Rate Guarantee: From 1st of January 2008, our Annualized Equivalent Rate (AER) rate is guaranteed to be 0.30% above Bank of England base rate till 31st of December 2011.
3. With effect from 16th October 2007, ICICI Bank UK PLC has become a subscriber to the Banking Code, which sets good standards of practice for financial institutions to follow when they are dealing with personal customers in UK.
#4
From their website:

The Bank was incorporated in England and Wales on 11 February 2003 as a private company with the name ICICI Bank UK Ltd. and on 30 October 2006 converted to being a public limited company.

[SIZE=2]Check this on MSE:[/SIZE]
[SIZE=2][/SIZE]
http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

It quotes ICICI as the top payer.
#5
Been using them for a couple of years and never had any problem, just high interest payments.
#6
I tried to setup a savings account with them. They indicated 2 working day to verify my bank details. Still no sign of the account being ready to use.

This was a month ago. I sent 2 mails, the second stating it was not good enough to wait this long. They simply said they did not want me to leave.

So I have cancelled the application
#7
For those brave stoozers out there (if you are a non tax payer) you can borrow money elsewhere for about 6.7% and therefore make a good profit with someone else's money.

Check it out at: moneysavingexpert.com
#8
That only works if the interest rate (BoE) stays the same or goes up.
#9
I've had many different Bank and Building Society high interest accounts within the last 2 years. I can honestly say that I've had from day one and at present, many more problems with ICICI than any other. I would advise to forget about ICICI and look elsewhere for the next best rate. They are the most incompetent Bank I've ever encountered.
#10
Hello all, first post so please be gentle.

I've been looking to open a high interest savers account for a while and can't decide which bank to go with. I almost signed up with Bradford & Bingley until I read some of the comments about them on these forums. If I had around £5k to invest, where would you suggest I take my savings?
#11
sloth_frattelli
Hello all, first post so please be gentle.

I've been looking to open a high interest savers account for a while and can't decide which bank to go with. I almost signed up with Bradford & Bingley until I read some of the comments about them on these forums. If I had around £5k to invest, where would you suggest I take my savings?


Have you got an isa and is it full? If not get one of those

I would suggest using the one with the highest rate which is this bank currently.

Use [url]www.moneysavingexpert.com[/url] to keep up to date on who pays the highest interest and use them.

You will have people on hear who have had problems with all banks (including myself) but the overiding thing is the cost to your pocket. Take the highest rate!

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Top of Page
Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!