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ICICI 2 year term deposit
neil324
Posts: 460 Forumite
When you look at rates on saving accounts you look at the AER i assume, so the ICICI 2 year has a gross rate of 7% and an AER of 6.77%. So it pays 6.77% right?
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Comments
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Anyone know which rate applies?0
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The account pays 6.77% but compounded over the two year it equates to 7%. For £100 invested after two years at the end of the term you would have £114.Change is here to stay0
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OK thanks, but i thought the ineterest was payed annually0
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Not good to 'think' as far as financial products are concerned - always read the Terms & Conditions:OK thanks, but i thought the ineterest was payed annually9.1 The interest rate applicable to your HiSAVE Fixed Rate Account shall be the interest rate applicable on the date your HiSAVE Fixed Rate Account is opened. Interest shall be calculated and accrued daily and shall be paid at the end of the term.0
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