ICICI HiSave Term Deposit

Madiba_2

I got an email this morning telling me about this, did anyone else get it?

I was wondering if anyone could find the T&Cs to it on the ICICI website? I want to know if its monthly income, or if the interest is paid after the 6 months?
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Dear HiSAVER,


This festive season, here is one more reason to rejoice.

For the last few months, you have seen your money grow at the HiSAVE Savings Account rate. Now you can enjoy an even higher interest rate of 5.65% (AER/Gross) for a fixed tenure of 6 months through our HiSAVE Term Deposit. This privilege is designed exclusively for HiSAVERs only.


How is it different?

The HiSAVE Term Deposit is actually UNFIXED. You may easily withdraw your money by calling us, or by writing to us online. Your request will be processed in 3-4 working days.

Would I lose out on early withdrawals?

Even if you require your money before maturity of the deposit, you would get the HiSAVE Savings Account gross rate, applicable at the time of opening your HiSAVE Term Deposit

norm_diploom

Looks like interest is payable at end of 6 month period. However, your money then "rolls over" for another 6 month period if you do nothing, as I understand it by reading the T&C's. See the other useful thread at top of page for links and more useful information on this.

tom188

See here
Madiba cross posted with Exel
http://forums.moneysavingexpert.com/showthread.html?t=340601