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about ICICI...

Senator
Senator Posts: 19 Forumite
in Savings & investments
Does anyone know if it is safe to save money with ICICI bank?
«13

Comments

  • Baldur
    Baldur Posts: 6,565 Forumite
    Senator wrote: »
    Does anyone know if it is safe to invest in ICICI bank as they are based in somewhere south Asia?

    ICICI Bank UK is the UK subsidiary of a large Indian bank.

    Do you mean 'invest' or save money with?

    I've had several accounts with them since they began their UK retail operation & have never had any problems - savings are covered by the FSCS for deposits of up to £35,000 the same as any UK bank or Building Society.
  • Senator
    Senator Posts: 19 Forumite
    Baldur wrote: »
    ICICI Bank UK is the UK subsidiary of a large Indian bank.

    Do you mean 'invest' or save money with?

    I've had several accounts with them since they began their UK retail operation & have never had any problems - savings are covered by the FSCS for deposits of up to £35,000 the same as any UK bank or Building Society.
    Thanks, Baldur
  • wireless
    wireless Posts: 81 Forumite
    I've got savings account with them since 3 years. Never had any problems and they are covered as per FSA standards
  • Senator
    Senator Posts: 19 Forumite
    cheers, wireless
  • rexel
    rexel Posts: 602 Forumite
    Part of the Furniture 100 Posts
    no problems site can be a bit slow sometimes
  • Christa1
    Christa1 Posts: 286 Forumite
    i have been with them since they started, no problems at all. The current 7% interest trate for the current fixed term account( for a year) is good for me as is the fact you can have multiples of this account( not Hi save though to differentiate).
  • Karl.H_2
    Karl.H_2 Posts: 310 Forumite
    I have an account with them too. No problems. They AER has reduced to 6.16% so I am currently looking into moving my savings to Birmingham and Midshire (6.5%).
    "Do not spoil what you have by desiring what you have not; but remember that what you now have was once among the things you only hoped for."
    - Epicurus (341 BC - 270 BC)
  • Senator
    Senator Posts: 19 Forumite
    Karl.H wrote: »
    I have an account with them too. No problems. They AER has reduced to 6.16% so I am currently looking into moving my savings to Birmingham and Midshire (6.5%).

    Birmingham and Midshire offer annual interest rather than monthly.
  • Karl.H_2
    Karl.H_2 Posts: 310 Forumite
    Senator wrote: »
    Birmingham and Midshire offer annual interest rather than monthly.

    That's correct. I'd prefer to view my interest monthly, however I am willing to sacrifice monthly interest for 6.5% AER!
    "Do not spoil what you have by desiring what you have not; but remember that what you now have was once among the things you only hoped for."
    - Epicurus (341 BC - 270 BC)
  • maveli
    maveli Posts: 590 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I too have an account with them. My only complaint is the money transfer take 5-7 working days. So keep this in mind if you are looking for a real instant access account
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