ICICI bump it up to 6.75%

wombat42_2

http://www.icicibank.co.uk/hisave_termdeposit.html

This is a 1 year term savings bond.

I cant really see any point, as soon IRs will go up by .25% and you will get 6.55% on the regular account.

bristolleedsfan

wombat42 wrote: »

http://www.icicibank.co.uk/hisave_termdeposit.html

This is a 1 year term savings bond.

I cant really see any point, as soon IRs will go up by .25% and you will get 6.55% on the regular account.

highest 1 year bonds atm are birmingham midshires ( 6.70% AER) and BMW savings 6.69 AER ( newcastle BS)

http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rate-savings-accounts.aspx

wombat42_2

I worked out that definately a good time to fix a 1 year bond is if and when interest rates have just or are about to fall.

Heinz

It's now 6.75%

http://www.icicibank.co.uk/hisave_termdeposit.html

wombat42_2

Heinz wrote: »

It's now 6.75%

http://www.icicibank.co.uk/hisave_termdeposit.html

Yep you beat me to it by 2 minutes. I have started a new thread.

Apreciar

Still not a leader Allied Irish 6.9%, West Brom B S 6.86 and Derbyshire B S 6.85% and for those who dont quite trust ICICI they do not have the same fear,for myself I think the fears of ICICI is unfounded.

Rafter

ICICI are regulated by the FSA so the first £30k or so are as safe as anywhere.

6.9% is the best rate for a 1 year bond though because of all the problems in the financial markets, savers are reaping the benefits.

Seems unlikely that base rates are going to go up while all this is going on though.

R.

isofa

ICICI haven't signed up to the Banking Code though, or have things changed with them since they launched?

ukdutypaid

not quite right.. you need to update the thread title.
[FONT=Arial, Helvetica, sans-serif]1 year rate to 6.75% AER/Gross and our 6 month term deposit rate to 6.65% AER / 6.55% Gross[/FONT]

ManAtHome

Rafter wrote: »

Seems unlikely that base rates are going to go up while all this is going on though.

Base rates are pretty irrelevent when you can get over 1% better from "The Banks Wot Won't Lend To Each Other"...

3 month LIBOR rates (set by above-mentioned banks) are within a whisker of 7% and seem to be going up daily (basically as they don't trust each other to repay and need a few quid to settle their dodgy loans), think we'll see a bit more action in fixed rates over the next few months.

square-eyes

I looked at this bond and it is very tempting as I think base rate will fall in the long term. I am a bit confused by the ability of the the account to "automatically" roll-over into a new account at the anniversary date provided you select this at account set-up. I suppose that means you can guarentee 6.75 for years to come. I wonder what happens when you eventually want to withdraw your money?