ICICI dropping rates from 5/3/08

fisher-man_2

Just had an email from ICICI informing me that the rates are dropping from the 5th of March to 6.16% AER. from 6.41% on the Hisave account and to 6.65% on the 1 year term account.

wombat42_2

fisher-man wrote: »

Just had an email from ICICI informing me that the rates are dropping from the 5th of March to 6.16% AER. from 6.41% on the Hisave account and to 6.65% on the 1 year term account.

Nice of them to give advance warning so snap up your 1year bond quick.

Stompa

Thanks for that info. It makes the decision of whether to make a deposit with them much easier!

kevgroarke

Is ICICI still keeping their promise of staying .3% above the rate of inflation by doing this?

bristolleedsfan

Stompa wrote: »

Thanks for that info. It makes the decision of whether to make a deposit with them much easier!

March 1st -March 3rd ish will herald many savings rate decreases from many providers.

Lavendyr

kevgroarke wrote: »

Is ICICI still keeping their promise of staying .3% above the rate of inflation by doing this?

Guarantee is to stay above base rate, not inflation - two different things. And yes, they are.

aj9648

Do you still get instant access to your money if you move to one of their fixed term deposits - and is there a penalty for withdrawing any money at any time?

wombat42_2

aj9648 wrote: »

Do you still get instant access to your money if you move to one of their fixed term deposits - and is there a penalty for withdrawing any money at any time?

Yes you can withdraw any time from their fixed rate bonds - they just give you a reduced interest rate - like knock 1 or 2% off.

JohalaReewi

wombat42 wrote: »

Nice of them to give advance warning so snap up your 1year bond quick.

I think the email said you had to apply before 3rd march to get the bond at the current (old) rate.

Newly_retired

Am I still in time to open a fixed term deposit? I have a Hi save a/c but only £10 in it. As from today I now have enough in my linked current account to transfer to a Hisave fixed term. Direct debit already set up, but given the weekend, is there still time to get the old rate before it changes?
Given all the complaints I have read on this site about ICICI I have hesitated but the rate looks too good to pass up.

wombat42_2

Newly_retired wrote: »

Am I still in time to open a fixed term deposit? I have a Hi save a/c but only £10 in it. As from today I now have enough in my linked current account to transfer to a Hisave fixed term. Direct debit already set up, but given the weekend, is there still time to get the old rate before it changes?
Given all the complaints I have read on this site about ICICI I have hesitated but the rate looks too good to pass up.

I have never had any significant probs with ICICI. I think you are too late to snap up fixed term at current rates as will take you about 3 days to put money in your hisave account.