ICICI - HiSAVE Term Deposit @ 6.75% AER

carpy

now that it looks like the base rate might not keep going up because of the recent credit crisis/northern rock thing, does this product now look like quite a good product @ 6.75%?

Steve_xx

I would say so, yes.

carpy

Steve_xx wrote: »

I would say so, yes.

that's what i was thinking!!:beer:

anyone signing up to one or just sticking with the normal hi-save account?

an1179

The only problem in opening an account with them is the you have to get certified copies of items for proof of ID see below

[FONT=Arial, Helvetica, sans-serif]Required Documents : [/FONT]

[FONT=Arial, Helvetica, sans-serif]-[/FONT]

[FONT=Arial, Helvetica, sans-serif]Certified photocopy of the current passport or full UK driving license as an identity proof. [/FONT]

[FONT=Arial, Helvetica, sans-serif]-[/FONT]

[FONT=Arial, Helvetica, sans-serif]Certified photocopy of a utility bill (less than 3 months old) or bank statement (less than 3 months old) as address proof. [/FONT]
[FONT=Arial, Helvetica, sans-serif]These documents must be certified by any bank/building society official, solicitor, accountant, commissioner of oaths, justice of the peace, legal secretary, member of parliament, police officer or an officer of the armed services.[/FONT]


Or alternatively you can call into one of their branchs with the documents and they will copy them certify them and send them to head office

[FONT=Arial, Helvetica, sans-serif]To certify the documents, the certifier must write on the copy they are certifying:[/FONT]

[FONT=Arial, Helvetica, sans-serif]1. "Original seen" or "Certified true copy of the original" [/FONT]
[FONT=Arial, Helvetica, sans-serif]2. Name and signature of the certifier. [/FONT]
[FONT=Arial, Helvetica, sans-serif]3. Occupation/status/qualification to certify [/FONT]
[FONT=Arial, Helvetica, sans-serif]4. Date of certification [/FONT]
[FONT=Arial, Helvetica, sans-serif]5. Business stamp if the certifier have one [/FONT]
[FONT=Arial, Helvetica, sans-serif]6. Details of how the certifier can be contacted if needed e.g. telephone number and address [/FONT]

[FONT=Arial, Helvetica, sans-serif]We await these documents to proceed with your account opening.[/FONT]

masonic

an1179 wrote: »

The only problem in opening an account with them is the you have to get certified copies of items for proof of ID see below

You only have to send ID documents if you fail the electronic verification. Most people need not send anything (I didn't).

But I'd say this account is great for existing ICICI customers. New customers might want to review some of the feedback posted about ICICI before taking the plunge.

carpy

what's the general feeling, is it worth commiting myself for 12 months for 6.75% or do people think it's probable that there normal hi-save account (currently @6.30%) is likely to exceed this within 12 months?

are there any better products out there?

masonic

I doubt very much the rate on the HiSave account will go up by anywhere near as much as to make this fixed rate deal return less. Also, remember that the rate guarantee on HiSave expires in a couple of months.

gt94sss2

carpy wrote: »

what's the general feeling, is it worth commiting myself for 12 months for 6.75% or do people think it's probable that there normal hi-save account (currently @6.30%) is likely to exceed this within 12 months?

I think most people expect the next change in interest rates to be downwards, which means that both instant access and fixed rate accounts will have lower rates in future..

Regards
Sunil

janbanan

masonic wrote: »

You only have to send ID documents if you fail the electronic verification. Most people need not send anything (I didn't).

But I'd say this account is great for existing ICICI customers. New customers might want to review some of the feedback posted about ICICI before taking the plunge.

Does anyone know what electronic verification means? What are they looking for? I'm on the electoral roll at my current address and have been for many years. I have no problems getting credit.

I have to send IDs every time! I'm not going to bother this time. I hate this time-wasting and demeaning exercise.

carpy

not looking so good now they've raised the normal hi-save account to 6.41% AER

F_T_Buyer

Hmm, seems good if you're an existing customer with them. I don't think the base rate is going anywhere for a while.

The only other consideration for my is the Halifax fixed web Saver @ 6.88% for 3 months, and then keep re-fixing it. However, I can't see rates being that good forever.