ICICI to pay 7% for savings

Paul_Herring

Dan29 wrote: »

Certainly for a while they were top of the best-buy tables and Martin's top recommendation on this site,

And they're the only one he's actually suspended despite having high rates, due to bad feedback. (Ok - that was a while ago and he's re-instated his recommendation, but even now I see people complaining about them on these boards about the same things.)

Dan29

Paul_Herring wrote: »

And they're the only one he's actually suspended despite having high rates, due to bad feedback. (Ok - that was a while ago and he's re-instated his recommendation, but even now I see people complaining about them on these boards about the same things.)

Fair enough. However I would still rather use them than Icesave due (without wishing to take this thread off-topic) to the latter's 'passport' membership of the FSCS. It's up to the individual to do their own research IMHO and if someone is scared off a bank by one or two negative posts on here then their only option would be to put their money under the mattress.

PS "5.4% BEST BUY"

nilrem_2

Dan29 wrote: »

On the other hand:

- Many people with ICICI accounts have had no problems at all;

- Many people have had similar or worse problems with other banks (in my case that would be Alliance and Leicester, Abbey and Halifax).

I quite agree but we do seem to read a lot about people having problems with ICICI rather more than with most other banks.
I save with Icesave and ING (or did) but all the stuff I have read about ICICI has put me off opening an account with them if I am honest.:)

Paul_Herring

There's absolutely nothing wrong with the passport scheme (indeed it may result in that portion getting paid quicker than the UK scheme.)

And it's slightly more than "one or two negative posts."

sloughflint

Dan29 wrote: »

However I would still rather use them than Icesave due (without wishing to take this thread off-topic) to the latter's 'passport' membership of the FSCS.

I'm the other way round. I'd far rather use Icesave with good CS records and its Passport scheme in the unlikely event of needing compensation.

Dan29

Paul_Herring wrote: »

There's absolutely nothing wrong with the passport scheme (indeed it may result in that portion getting paid quicker than the UK scheme.)

I would rather not save with a bank using the passport scheme.

Paul_Herring wrote: »

And it's slightly more than "one or two negative posts."

I meant on this thread, which I misinterpreted nilrem's first post as being based on.

sloughflint wrote: »

I'm the other way round. I'd far rather use Icesave with good CS records and its Passport scheme in the unlikely event of needing compensation.

You're not, of course, suggesting that there have been no complaints about Icesave on this forum?

chesky369

By and large one gets the impression that those who save with ICEsave seem to be happy with their experience and very supportive of the bank. Of course there are always going to be complaints of any bank but ICICI does seem to have had many, many more than most - although the highest number does seem to have been some time ago, so perhaps things are improving.

webdigga

I guess it's for the individual to decide on what's the most important factor when looking for where to put savings. I have had a lot of problems with ICICI's website when trying to gain access.

Would also like to point out that I save with Icesave also and I really haven't found better customer service at any other bank.

sloughflint

Dan29 wrote: »

You're not, of course, suggesting that there have been no complaints about Icesave on this forum?

Nope. I just applied before seeing anything negative and have nothing negative to report about them.....yet

UK007BullDog

[FONT=Zurich BT,Arial, Helvetica, sans-serif]HiSAVE Term Deposit[/FONT]
[FONT=Zurich BT,Arial, Helvetica, sans-serif]Current interest rate[/FONT]
[FONT=Zurich BT,Arial, Helvetica, sans-serif]New interest rate[/FONT]

[FONT=Zurich BT,Arial, Helvetica, sans-serif]old: 1 year term deposit [/FONT][FONT=Zurich BT,Arial, Helvetica, sans-serif]6.65% AER / Gross [/FONT]
[FONT=Zurich BT,Arial, Helvetica, sans-serif]new: [/FONT][FONT=Zurich BT,Arial, Helvetica, sans-serif]7.00% AER / Gross[/FONT]

[FONT=Zurich BT,Arial, Helvetica, sans-serif]old: 6 month term deposit [/FONT][FONT=Zurich BT,Arial, Helvetica, sans-serif]6.50% AER / 6.40% Gross [/FONT]
[FONT=Zurich BT,Arial, Helvetica, sans-serif]new: [/FONT][FONT=Zurich BT,Arial, Helvetica, sans-serif]6.70% AER / 6.59% Gross[/FONT]

I have had no problems at all and been with them since I signed up on this site.