ICICI Hi-Save 6.30% from 23rd JULY

ukdutypaid

Brian-S wrote: »

I have just opened an ICICI HiSave Account and would like to know why it takes EIGHT days to transfer money into this account.

Doesn't normally Brian. The account operates on normal BACS time (paypment made either way today, will show up three days later).

Slightly lower rate, but I'm intrigued by the instant/overnight turnaround, I've heard about between Sainsbury's and HBOS (Sainsbury's bank with HBOS, so it's classed as an internal organisation one, it would appear)
6.25 annual or 6.30% monthly (ICICI)

Although if anybody can explain this little lot, I'd be interested.
Icesave
Interest paid Ann
Gross 5.95% AER 5.95%

Paid Monthly
Gross 5.79% AER 5.95%

From July 13th Ann Rates (I haven't seen the monthly ones, although it's usually about 0.13 below. Making it about 6.07 Gross)
Gross (they don't say this bit yet?. Although theirs is always the same) 6.20% AER 6.20%

Icici
Paid monthly
Gross 5.89% AER 6.05%
From July 23rd
Gross (usually about 0.13 below therefore 6.16%? AER 6.30%

Sainsbury's
Paid Ann
Gross 6.00 AER 6.00
From 1st Aug
Gross (they don't say this bit yet? but it's the same 6.25) AER 6.25

So who's paying the highest.... Is it ICICI or am I only confused because I don't fully understand Gross vs AER even!!

Might have answered my own question there...
http://forums.moneysavingexpert.com/showthread.html?t=495649 "Monthly or Yearly interest" Yearly it would seem, interes on tax not yet deducted..
So that would make Sains the best then..... Anybody about to contradict me, feel free..... Too anal, perhaps?

[Deleted User]

Alliance and Leicester it takes 8 days for BACS as they trade your money for a couple of days before theyll send it.

exel1966

Brian-S wrote: »

I have just opened an ICICI HiSave Account and would like to know why it takes EIGHT days to transfer money into this account.

It doesn't, I regularly move funds in/out. Always starting the process on a Monday/Tuesday it's received at the other end Wednesday/Thursday morning.
There are some banks/societies however which will hold onto your funds for longer i.e A&L + YBS to name a couple.

Jim_B_3

It takes eight days the first time only - presumably they have to set up thee direct debit, but after that it remains in place so there is no set up time in future transfers.

masonic

Jim_B wrote: »

It takes eight days the first time only - presumably they have to set up thee direct debit, but after that it remains in place so there is no set up time in future transfers.

It depends. Mine never stayed set up - ICICI kept sending final requests, so it was 8 days each time.

yummie

Can anyone tell me their experience with 'ICICI HiSave' account as i'm very interested but concerned as i've never heard of them before or should i play it safer & go to 'Sainsbury?'

exel1966

100% Problem Free. Much better than A&L for example.

gt94sss2

yummie wrote: »

Can anyone tell me their experience with 'ICICI HiSave' account as i'm very interested but concerned as i've never heard of them before or should i play it safer & go to 'Sainsbury?'

ICICI are one of the biggest banks in India.

Many people here are happy cusomers, but as with all banks you will have some unhappy customers.

Regards
Sunil