icici fixed rate

astreix

Helvetica wrote: »

Have the t&c's recently changed? As I read it the early access option only allows you to close the account early.

Not sure if there has been any recent changes. Maybe call up their customer services number and they might be able to confirm it.

If that is the case now, one way might be to break the total amount you want into multiple deposit (e.g. instead of opening a 10,000 deposit you could open 4 deposits of 1000, 2000, 3000, 4000), so that you can only withdraw what you want. Multiple deposit accounts are permitted.

Baldur

powerRIP wrote: »

I can confirm that they set my new account at 7.0 which I am very happy about as I was expecting 6.6 aer.

Excellent news!

Baldur

Helvetica wrote: »

Have the t&c's recently changed? As I read it the early access option only allows you to close the account early.

It also means a penal rate for withdrawals in addition to the lower early access rate.

See the "Easy access Penal Rate" column on the interest rate table - http://www.icicibank.co.uk/hisave_fr_interest_rates.html

KingL

powerRIP wrote: »

I can confirm that they set my new account at 7.0 which I am very happy about as I was expecting 6.6 aer.

Nice one

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kthaker wrote: »

You can withdraw part of the funds (provided you choose the early access option). Whatever funds you withdraw I think would earn a reduced rate of 5% from the date of deposit instead of the term rate. So effectively you earn a lower rate of interest on withdrawn funds. The balance which is not withdrawn and remains for full term though will earn the agreed term rate.

Make sure you choose the early access option if you think you need to withdraw cash early.

it has been pointed out on another thread that the penalty rate is now 3%
http://www.icicibank.co.uk/hisave_fr_interest_rates.html

ed123_2

...looks like they have dropped the rates again today 1 year 5.75% no access....

Kavanne

ed123 wrote: »

...looks like they have dropped the rates again today 1 year 5.75% no access....

I applied a few days ago when it was 6.6 and sent my cheque off yesterday... does this mean I get the rate I applied for or the rate when they receive my cheque?

bronzemonkey

Kavanne wrote: »

I applied a few days ago when it was 6.6 and sent my cheque off yesterday... does this mean I get the rate I applied for or the rate when they receive my cheque?

I'd like to know the answer to this question too. I applied when it was 6.6% and was accepted but I haven't sent the cheque yet. Don't want to send money away and find it locked away in a 5.75% account even thought I was accepted when the rate was 6.6%