ICICI HiSave interest rates hiked to 6.05%

Paul_Herring

EagerLearner wrote: »

Thanks Paul - I thought it would be pennies!I think you are saying stay with IceSave then? Sometimes I don't have £200 per week to put in...

No - I'm saying that it's worth your while (in the order of pennies) to put new money into HiSave, and I was also pointing out why it's not worth moving any existing savings you have in IceSave over to HiSave.

New money will have the 3 day delay whichever account it goes into - you might as well put it in the higher paying one whichever it is at the moment, regardless of how much/how often it is.

In summary, with the rates as is, leave your IceSave money where it is for the moment, and put any extra new money into ICICI.

EagerLearner

Thanks Paul -much clearer on it now, and will do!

hpuse

I couldn't agree more with your observation.
The ICICI internet bank site is poorly designed; I wonder whether they have ever thought of the users during the time they created those hard to understand and difficult navigations within their 3 or 4 constantly used web pages by any user.

Main difficultly with statement page is, it doesn’t provide a remaining balance with respect to each transaction that appear on the statement lines, which is very vital for accounting purposes.

I made a small spreadsheet which takes a month’ opening and closing balance and the days& details of transaction (withdrawals & deposits) to check whether interest calculation(daily but applied at the end of the month) is correct.
I do this every end of the month may be because I don't trust them when they hold my money due to other bad reviews written here.

Thankfully, it appears like they haven't got their maths wrong yet, unless both of me and them is making the same elementary mistake in calculations:-)

MiserlyMartin wrote: »

This is good news. The problem with ICICI is that their statements (online) are hard to follow. I find it difficult if not impossible to work out if the interest applied is correct because they don't give a before and after (interest applied) balance. Anybody else bothered by this?

masonic

agent_orange wrote: »

Should I have had my icici interest paid certificate for 2006-2007 yet?

Expect it in the next few weeks. Hopefully they will take the time to check there figures before sending them out this year.

skiddy2k

quick question,
i was wondering whether icicibank cap your interest rate of 6.05% from the 18th may 2007, if you withdraw your money from their hisave account.

or, how many times can you withdraw £ from the account without the 6.05% rate being dropped.

thanks in advance,

exel1966

The ICICI Hi-save account carries no penalties whatsoever for any amount of withdrawls and the 6.05% is variable so it could increase/decrease at any time in line with other variable accounts.