ICICI Bank

alchemistkevin

bristolleedsfan wrote: »

Sorry, my post was aimed at people who are considering opening a fixed rate account somewhere and might not neccesarily visit ICICI Bank website before the impending rate decrease.

It seems like we need to jump through hoops to get the account opened.

I've been advised to open a normal hi-save account then open another hi-save fixed rate account!

Is this what you had to do?

Steve_xx

alchemistkevin wrote: »

It seems like we need to jump through hoops to get the account opened.

I've been advised to open a normal hi-save account then open another hi-save fixed rate account!

Is this what you had to do?

Yes, you have to open a normal HiSave account first.

KingL

yep.... it's no biggie really, all done with a few extra mouse clicks

Baldur

Yes, funds are transferred from the Hi Save account into fixed rate options (and vice versa at the end of the term, as long as you don't select auto-renewal when applying).

dancingdandare

It seems like we need to jump through hoops to get the account opened.

I've been advised to open a normal hi-save account then open another hi-save fixed rate account!

Is this what you had to do?

Well i have had a hi save easy access account open for well over a year now, so given that the interest rate was going to drop and i have a spare 50k that i don't need at the moment i just went online and opened it and that very same day it was open and money in, i was impressed. Although the account did not appear on the online summary until the following day. Still i believe it was done pretty fast.
As for the members who believe i am crazy to open another ICICI account, i say to them, live a little! You are at as much risk of as losing your money with it in the uk as for in a uk branch of an Indian bank. Actually given the economies of the two countries.....India has got to be more sustainable in the long term, as they actually produce product. They manufacture and grow vast amounts of products and foods which the world wide population uses, unlike the UK, where manufacturing is almost finished and we really only provide services (services which will be shipped abroad not before long). I know where i would prefer to have my money. Give it another 10 years and we will all be putting our money in china....:T

alchemistkevin

dancingdandare wrote: »

Well i have had a hi save easy access account open for well over a year now, so given that the interest rate was going to drop and i have a spare 50k that i don't need at the moment i just went online and opened it and that very same day it was open and money in, i was impressed. Although the account did not appear on the online summary until the following day. Still i believe it was done pretty fast.
As for the members who believe i am crazy to open another ICICI account, i say to them, live a little! You are at as much risk of as losing your money with it in the uk as for in a uk branch of an Indian bank. Actually given the economies of the two countries.....India has got to be more sustainable in the long term, as they actually produce product. They manufacture and grow vast amounts of products and foods which the world wide population uses, unlike the UK, where manufacturing is almost finished and we really only provide services (services which will be shipped abroad not before long). I know where i would prefer to have my money. Give it another 10 years and we will all be putting our money in china....:T

spot on. the only part I'd differ on is the last word, china. I'd say it would be India.

It is a huge manufacturing base for things like computer media and automobile parts and has a huge service sector as well.

The growth rate, currently, is better in China but I believe India is better poised.

Time will tell eh?