Top Uk Saving Accounts

[Khun Bob]

You may well know that the MPC increased UK interest rates by .25% the other day. Well all the best paying sterling bank account seem to be coming out with increases too. But best I have seen so far is ICICI bank with 6.05%, which seems to beat most now. Previously their rate was below Alliance & Leicester and Icesave. but jnow they seem to be above - however for how long I dont know...

Their email stated :

Dear HiSAVER,

You will now earn a new increased rate of 6.05% AER with our HiSAVE Savings Account. This rate is effective from May 18th 2007.

This rate increase is in line with our philosophy of creating the best value for you.

We thank you for your support and confidence. You are amongst the first to know of this rate increase and we hope that you will take maximum advantage of the same.

With warm regards,

The HiSAVE Team

HTH

PS There are better paying account but not instant access, without penaties or initial incentives.

[endure]

Do they have a guarantee to track the Bank Rate? I opened an account with Icesave because of their tracking promise. They're increasing their rate to 5.95% from the 18th May. They guarantee beating the BoE rate by 0.25% until October1 2009 and to track the BoE rate until October 1 2011.

[Khun Bob]

Dont know - but as it is instant access you can put your cash where it pays best - but bear in mind it takes 6 woking days to get from 1 savings account to another, as it can rarely be done directly from 1 savings account to the other these days... And in that 6 days there is no interest at all on the sum moved (which may exceed the 0.1% difference in interest...)

Do they have a guarantee to track the Bank Rate? I opened an account with Icesave because of their tracking promise. They're increasing their rate to 5.95% from the 18th May. They guarantee beating the BoE rate by 0.25% until October1 2009 and to track the BoE rate until October 1 2011.

[chiang mai]

I like the Nationwide International Tracker account from NWI in the Isle of Man. It pays 0.20 over base for the first year but then pays 0.20 under base for the second year. I use it one year at a time then close the account and reopen a new one - only four withdrawals allowed per year but it's fine to use as a temporary holding account whilst seeing what the one year bonds rates are going to do. Best part is that it's covered by the IOM deposit assurance scheme hence is somewhat safe.

[Khun Bob]

Anybody know better than 6.05% for a UK instant access savings account ?

[lotus eater]

Anybody know better than 6.05% for a UK instant access savings account ?

Is it practicable to open an account with icici from thailand over the internet?

[Khun Bob]

Read their website - find out what the details are - use a UK based proxy and make an application - only way to find out if it is possible even if they state it isnt - of course you'll need all the usual stuff bank ask for an expect and if you can provide this then you may well be able to do it.

One word of advice though - when receiving email from them be careful as I made over 5 applications before and they were sending an email to me which my isp was kindly filtering out as spam and not telling me about. They are an indian bank and they do have a branch in singapore - not sure of there is one closer to thailand - google is your friend, but I think for a UK app, and ICICI closer to Thailand may not be that helpful, unless you encounter problems and wish to use some social engineering to help meet your objective.

HTH

Anybody know better than 6.05% for a UK instant access savings account ?

Is it practicable to open an account with icici from thailand over the internet?

[briley]

If I recall correctly your first deposit into ICICI has to be by cheque from a linked account. But it might have been ING?

Bit of a problem as I don't use cheques any more. When I contacted then they said no cheque no account.

[Khun Bob]

Yes - when I opened this account a couple of years ago they wanted a cheque to begin with... I guess its proof of having a current account in the UK. But why dont they use some of the electronic methods available to them ? Who knows...

Still it is the top instant access payer at the mo and A&L have not increased their rates and their account is not as good as icici's. Will have to wait and see as there is likely to be another rate hike soon...

KB

If I recall correctly your first deposit into ICICI has to be by cheque from a linked account. But it might have been ING?

Bit of a problem as I don't use cheques any more. When I contacted then they said no cheque no account.

[Khun Bob]

Just checked the website and they still want a cheque drawn on the account to be linked to the savings account they will open.

Also noticed they are doing a 1 year term account at 6.3%, with allegedly a minimum £1 opening amount - this can be funded from the HiSave account. I dont think this is the best.

Their dodgy website is scaring me a bit over putting more money in - but the account is better than A&L at the mo...