ICICI or IceSave for monthly interest?

OllieLong

steve1905 wrote:

I have made a transfer from my icici account to my linked account (Lloyds Tsb). Once the funds show on my account, does it mean I can transfer it out straight away or do I have to wait for them to be cleared?

Once the money is in your Lloyds account you can do what you like with it!

EagerLearner

So, just checking, IceSave is still the better option if I want my interest paid monthly?

z1000000

I must say I've had very little trouble with ICICI. However they have taken With Holding tax from my interest/account. I'm not up to speed with this tax. Does anyone know about it and how I can get it back. Are other customers also having With Holding tax taken from their accounts?

Ta.

Paul_Herring

z1000000 wrote:

I must say I've had very little trouble with ICICI. However they have taken With Holding tax from my interest/account. I'm not up to speed with this tax.

It's Income Tax

Does anyone know about it and how I can get it back. Are other customers also having With Holding tax taken from their accounts?

You are only elegable to not pay this tax if you are under the tax threshold. If that's the case you need to fill out an R85 and send it to them.

Most other institutions give you the interest net of income tax. ICICI seem to give it to you gross then withdraw the tax.

z1000000

Thanks Paul-Herring. I sent them a R85 months ago and get intrest Gross, so it must be an error. I've contacted them and will see what they say. But with the rate rises, I'll see who pays the most when the dust settles

[Deleted User]

The dust appears to have settled quite quickly as far as these two are concerned. Both would now appear to be offering 5.45% gross AER, ICICI from 10/11, IceSave from 15/11.

Still no contest as far as I'm concerned.

gelato_cat

The rates are the same (both going up to 5.45% following the base rate increase) but I've heard so many bad things about ICICI I wouldn't touch them with a sh*tty stick.

Icesave have £22k of my money as of this Wednesday so they'd better be good

best of luck

Suze

EagerLearner wrote:

So, just checking, IceSave is still the better option if I want my interest paid monthly?

EagerLearner

Have opened an account with ICE just in case...

DocProc

I have just come off the phone to Icesave and had the following adamantly confirmed to me:

Anything out there anywhere on the internet that talks about Icesave raising its interest rates to an amount above the currently advertised 5.2% is just pure speculation.

1. An official announcement concerning the interest rate on its Icesave Internet Savings Account will be made by Icesave on Wednesday 15th November.

2. If there is any change, then this change will be notified to customers by e-mail.

3. Any web sites on the Internet stating or giving the impression that Icesave wil be raising its rate to 5.45% on 15th Novemeber are only speculative and the information may well be incorrect. This is because an official announcement on interest rate change has not yet been made by Icesave.

[Deleted User]

DocProc wrote:

snip

But surely 'hearing' that from you is also hearsay. Or are you saying that you are more reliable than the financial press.

Get over it. Time will tell. :rolleyes: