ICICI Bank UK Latest Savings Accounts News

May 2012 : ICICI Bank 1 Year Hisave fixed rate bond is paying 3.15%.

History of ICICI Bank
ICICI Bank was started in 1955 through an initiative by the word bank,indian government and indian industry.
In 1999 it became the first indian company and only the second asian bank to be listed on the new york stock exchange.
ICICI bank came to Britain in 2003 initially serving the indian community here and then in 2006 launched it's online savings accounts.
Today ICICI bank has 1416 branches in India and a prescence in 18 countries.
ICICI bank is a authorised and regulated by the FSA and savings are protected up to the limit of the financial services compensation scheme. (£50,000)
The registered offices for ICICI Bank UK Ltd is
21 Knightsbridge

ICICI Bank Financials
Results year ended 31/03/2011. ICICI Bank is now India's second-largest bank with total assets of Rs. 4,062.34 billion (US$ 91 billion) at March 31, 2011 and profit after tax Rs. 51.51 billion (US$ 1,155 million) for the year ended March 31, 2011. The Bank has a network of 2,539 branches and about 7,037 ATMs in India, and has a presence in 19 countries, including India.

24/10/2010 ICICI BANK Highest ever consolidated profit after tax of Rs. 4,670 crore for the year ended March 31, 2010; 31% increase from Rs. 3,577 crore for the year ended March 31, 2009.

27/01/2009 ICICI Bank reported a profit after tax for the 3rd quarter of 261 million dollars as against 253 million dollars for the equivalent quarter a year earlier.
24/02/2009 The indian state run life insurance company Corporation of India has increased its stake in icici bank to 9.38%

ICICI Bank Savings Account Products
ICICI Bank is best known in the UK for the high rates it pays on the savings accounts and fixed rate bonds it offers but it also supplies loans,health insurance,credit cards,money transfers.
ICICI Bank offers a range of fixed rate bonds with the 12 months fixed rate bond paying 2.25% on a minimum investment of £1,000.The HiSave instant access account paying 0.80% on a minimum investment of £1 being another savings account they offer.
The savings accounts below were the latest offerings from ICICI as at 29th October 2011

Icici Bank HiSave Savings Account.
Key Features
0.50% AER (on all balances above £1)
Fast and Easy Access (no penalties for withdrawals)
Covered under FSCS
Icici Bank Fixed Rate Bond Account 6 Months
Key Features
Interest Rate Fixed for the 6 month term
Minimum investment of only £1,000
1.50% AER
Icici Bank is authorised and regulated by the Financial Services Authority and is a member of the Financial Services Compensation Scheme
Icici Bank HiSave Fixed Rate Bond 1 Year
Key Features
Interest Rate Fixed for the 1 year term
Interst rate 3.15% AER
Minimum investment of only £1,000
currently not available
Icici Bank is authorised and regulated by the Financial Services Authority and is a member of the Financial Services Compensation Scheme

 icici savings accounts, financials, history and fixed rate term bonds.

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