ICICI HiSave interest rates hiked to 6.05%

Walletwatch

News flash on thisismoney

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=420200&in_page_id=7

codetown

If this is confirmed, it means HiSave had lost a huge amount of customers to the much more friendlier and functional IceSave and they could not face competition at the same rate... Only raising the rate a 0.10% above others, ICICI could hope to convince customers to move to them.

I would still recommend the IceSave for their reliability, excellent rate (even if now only 5.95%) and guarantees to 2011.

This ICICI raise could inflame a savings rates rise war in the future? All savers should hope so!

Walletwatch

I have had no problems to this date with ICICI except once, in fact on one occasion when I did, they actually backdated my deposit to ensure I didn't lose interest. Methinx I am sticking with ICICI, especially considering that you need to have a UK passport for Icesave, which I don't..

codetown

Walletwatch wrote: »

especially considering that you need to have a UK passport for Icesave, which I don't..

This is totally false. Icesave does pretty standard checks on identity (as any other bank). I do not have a UK passport either and have opened the Icesave account with no problems!

Walletwatch

Really? Could you tell me what document you provided them in lieu of a UK passport or UK driving license. I tried opening one yesterday, and got a mail saying it was required.

codetown

IceSafe has an electronic credential check. It was discussed many times on these forums. Some individuals get requested additional credentials beyond the electronic infos you provide them, some others don't. So many ICesave applicants don't get asked *any* document at all!!!

When you are 'selected' to provide additional infos on you (as I was), you get a very precise list of documents you can provide to demonstrate who you are and where you live. This is pretty standard across banks.
I don't remember exactly which documents were on each of the two lists, but it is Icesave itself which gives you the list. I saw it printed on the screen at the end of my application!
I simply choose one piece of evidence from each of the two lists and sent it to them via post. Can't even remember which document was, but for sure was not a UK passport as I don't have it!

Exactly the same procedure (with minor variations on the documents list) is followed by all accounts I applied for in the past (for example ING and A&L).

EDIT: I just checked on the ICESAVE web site and found the exact list you were looking for:
http://www.icesave.co.uk/help.html#07
There are many documents on each of the two lists...
But if you really have difficulties with it, try calling them and see if you can provide something else that they will consider valid! Icesave (differently from ICICI) has an excellent customer service and they speak good english!

exel1966

Have https://www.thisismoney.co.uk got this right ? I'll be very pleased if they have. A rise of 0.40% seems highly unlikely to me considering the BOE rate only incresed by 0.25%. There is absolutely nothing about this on ICICI's site yet.

Rhino666

It is ironic that ICICI have raised their interest rate at this time as I have just closed my account....

The final nail in the coffin was when I realised that both my logon id and the website URL had changed without me being notified.

ICICI pay good rates but life is too short and there are easier banks to deal with who will no doubt match that new rate in the next week or so.

Kazza242

exel1966 wrote: »

Have https://www.thisismoney.co.uk got this right ? I'll be very pleased if they have. A rise of 0.40% seems highly unlikely to me considering the BOE rate only incresed by 0.25%. There is absolutely nothing about this on ICICI's site yet.

The new ICICI rate of 6.05%, which is effective from May 18th, has now been added to the ICICI website, here.

Check out the 'What's New' section beneath the animated banner.

exel1966

Music to my ears, and to think I was considering pulling out !!

And now have received an E-mail to confirm it !! :j

Biggles

Just got an email from ICICI confirming the new rate as above.