ICICI dropping rates from 5/3/08

Newly_retired

Thanks for that. I had just about reached that conclusion. So now I am looking for a new home for £2000+, having reached my £35000 limit with two other banks. I think it might be N S & I now.

CannyJock

JohalaReewi wrote: »

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

It did - the 6 month bond still looks good at 6.5% AER if applied for by 3rd March either through website if you have existing current a/c or by calling 08081 314151 - can't see where it say that you have to fund it before then, wonder what the maximum time is that you can draw it out from application to funding?

siber

What are the odds that other top-rated savings accounts (recommended in Martin's Savings Page) will soon be dropping their rates too? I've about 20K in ICICI and so the 0.35% incentive to switch will worth the 3 or 4 days lost interest - ASSUMING other banks don't follow suite.

Your thoughts?

comdw

siber wrote: »

What are the odds that other top-rated savings accounts (recommended in Martin's Savings Page) will soon be dropping their rates too? I've about 20K in ICICI and so the 0.35% incentive to switch will worth the 3 or 4 days lost interest - ASSUMING other banks don't follow suite.

Your thoughts?

Won't the switch effectively be more costly than that as you can only withdraw from ICICI to your nominated bank account. From there you would have to transfer it to the new savings account.