Reply to: Can anyone better this deal?

[DimPrawn]

Thanks for all the replies.

There's no way I'm putting my money into an foreign bank like ICICI

I think the BM 6 month bond is where some of my stash is going to live for 6 months.

Cheers.

TMDP

[Bagpuss]

They have rating about the same as the Icelandic banks had. AND Given the speed they operate, I doubt I would have got my money back in 12 days as with Kaupthing to ING.

[sasguru]

Still a few web problems doesn't compare with going bust

[Bagpuss]

Seems like pot luck some people have no problems, BUT there are plenty of tales of woe though, and changing customer account details without informing the customer pretty poor IMHO

[Chugnut]

I'd avoid Icici... Baggy's tale of woe

I use 'em. I haven't had the hullabaloo you had, but I agree their web site is gonads. And without a high street branch to base an opinion on, one's perception is based on that.

[Bagpuss]

I'd avoid Icici, I opened an account a couple of years ago, tried to fund it and they lost my dd details and didn't bother to tell me. The website is useless and often falls over so I thought I'd leave it. In the meantime they changed everyone’s customer IDs without telling them. Which meant most customers got locked out of their accounts.

I left it alone for ages, then saw the great fixed rate deal (circa 7.2%) with full UK saving guarantee up to 50k. So again I visited them and tried to set up a fixed rate saver but guess what? They didn't setup the direct debit details again!

If you do a search on icici hisave you can see failure to set-up or collect funds is a common problem. Great interest rate, but diminished when it spends two weeks sat in your current account.

[TheFaQQer]

If you are putting it away for 6 months, then you won't beat the BM offer.

If you want three months, you can get 6.5% at Halifax.

If you want instant access then ICICI and BM do a 6.6%.

[TheFaQQer]

With the Mrs that's £100K covered by the protection scheme.

Bear in mind that BM are owned by HBOS, so if you have any money in the group then you may not get all your money back.

HBOS group:

• AA
• Birmingham Midshires
• Bank of Scotland
• Halifax
• IF
• Saga

HTH

[sasguru]

Much cheapness.

Plenty safeness.

[DimPrawn]

Well, they're backed by the government. I think 50k would be pretty safe. Small change I know to the Prawn.

With the Mrs that's £100K covered by the protection scheme.

Anyone beat that rate?

[Moscow Mule]

Well, they're backed by the government. I think 50k would be pretty safe. Small change I know to the Prawn.

The Millionaire Dim Prawn

[ace00]

I like this one, not as good rate, but easy access. Also has a strong capital ratio compared to local banks of 17.5%

http://www.icicibank.co.uk/

Much cheapness.

[ace00]

The message of the story is, if the interest rate is too good to be true, make some research into the bank behind the interest rate before parking your hard earned there.

All the best,

Milan.

Well, they're backed by the government. I think 50k would be pretty safe. Small change I know to the Prawn.

[sasguru]

I like this one, not as good rate, but easy access. Also has a strong capital ratio compared to local banks of 17.5%

http://www.icicibank.co.uk/

[milanbenes]

Dim,

please allow me to give you a word of advice,

it's not the % interest rate which is important,

what is important,

is the credit S&P rating of the bank/instituation/whathaveyou behind the offer.

Speaking for myself, if the bank/instituation/whathaveyou where I store my cash is not AAA (and there are currently only ten banks in the world which are still AAA) then I am not going to put money there. And as you can imagine, the AAA banks are not doing riskier investments and therefore with the AAA's you should expect an interest rate of 3 to 4 %.

The message of the story is, if the interest rate is too good to be true, make some research into the bank behind the interest rate before parking your hard earned there.

All the best,

Milan.