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ICICI Bank boosts short term savers

ICICI Bank boosts short term savers

Category: Savings

Updated: 08/06/2010
First Published: 07/06/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

ICICI Bank has bucked the recent savings account trend by increasing the rate on its one year fixed rate bond.

At 3.00%, its HiSAVE Fixed Rate account sits amongst the market leading savings accounts of its kind and should prove popular amongst internet investors.

Even though the rates on its three and four year bonds have been reduced, they remain market leaders at 4.15% and 4.25% respectively.

As with most fixed rate bonds, earlier access and additional investments are not permitted, so investors will need to know what funds they can commit to the savings accounts from the outset.

One thing to look out for: savers must be aware that a HiSAVE Savings account will automatically be opened on their behalf for when the bonds mature.

Four out of five Moneyfacts stars are highly deserved.

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