fixed rate

higueron

I have 100k that I want to put in a fixed rate account I can leave it there for up to 3 years the best rate I can find is with ICICI @ 4.25% for 3 years I want to take the interest on a monthly basis it will be a joint account does anyone know of any better paying accounts

MarkFromCornwall

higueron wrote: »

I have 100k that I want to put in a fixed rate account I can leave it there for up to 3 years the best rate I can find is with ICICI @ 4.25% for 3 years I want to take the interest on a monthly basis it will be a joint account does anyone know of any better paying accounts

I would recommend you divide your savings into at least two accounts. In the event of a bank failing you will get your money back through the FSCS compensation scheme, but only up to £50k per bank.

Regards,
Mark.

escobar2

hi there, does the icici bank allow you to take monthly interest out. I too have about 150k to put aside

regards

higueron

re - 50k safety limit it is a joint account therefore 100k is covered
yes there is a monthly option

as per my original post if someone knows of a better rate please let me know

savetilibleed

see post https://forums.moneysavingexpert.com/discussion/2468653 for an alternative where you can get monthly interest and from a 'safe' UK BS

alanq

savetilibleed wrote: »

see post https://forums.moneysavingexpert.com/discussion/2468653 for an alternative where you can get monthly interest and from a 'safe' UK BS

[STRIKE]Coventry BS has not quite as good an interest rate as ICICI but it does allow access with 180 days loss of interest. ICICI deposits are not accessible before maturity.[/STRIKE]
Note also that the Coventry BS bond is until 31.8.2013 not the 3rd anniversary.
Not sure that Coventry BS offers any increased safety as both schemes have full FSCS cover.

savetilibleed

alanq wrote: »

Not quite as good an interest rate but the Coventry BS does allow access with 180 days loss of interest. ICICI deposits are not accessible before maturity.

CBS only allow that access on their 5 year bond, not the 3 year.

alanq wrote: »

Not sure that Coventry BS offers any increased safety as both schemes have full FSCS cover.

Maybe, but they are good to deal with

alanq

Thanks for the correction re early access to funds.

savetilibleed wrote: »

Maybe, but they are good to deal with

I have no experience of ICICI but I do have experience of Coventry BS. From what I have read on these boards, I agree, I wouldn't sacrifice good customer service for an extra £50 pa gross (on £100,000) from ICICI.

higueron

I agree Coventry bs is very good to deal with but unfortunately I already have funds with them and to add another 100k would take me over the fsa safety limit that is why I am considering icici

savetilibleed

alanq wrote: »

Thanks for the correction re early access to funds.



I have no experience of ICICI but I do have experience of Coventry BS. From what I have read on these boards, I agree, I wouldn't sacrifice good customer service for an extra £50 pa gross (on £100,000) from ICICI.

Yup, when push comes to shove, rate do win out don't they

higueron wrote: »

I agree Coventry bs is very good to deal with but unfortunately I already have funds with them and to add another 100k would take me over the fsa safety limit that is why I am considering icici

Fair enough, don't blame you in that case.