ICICI Bank currently have some great rates including the highest savings rate available for a 1 year fixed rate bond. The savings
accounts from ICICI bank include
ICICI 6 month HiSAVE Fixed Rate Bond, ICICI 12 month HiSAVE
Fixed Rate Bond, ICICI 24 Month HiSAVE Fixed Rate Bond, 36 Month HiSAVE Fixed Rate Bond and HiSAVE Savings Account with
ICICI Bank UK PLC is authorised and regulated by the Financial Services
Authority and is a member of the Financial Services Compensation Scheme established under the Financial Services and
Markets Act 2000. In respect of deposits with ICICI Bank UK PLC, payments under the Scheme are limited to 100% of the first
£85,000 of a depositor's total deposits with the bank. Where two depositors hold a joint account, each depositor
may receive a maximum of £85,000 compensation in respect of the claim, giving a total of £170,000.
The Bank is a wholly owned subsidiary of ICICI Bank Limited As at 31 December 2008, ICICI Bank is India's
largest bank in the private sector with total consolidated assets of approximately US$ 100 billion and is the second largest
company in India including all public and private enterprises.
Ratings agency Standard & Poor's
said on 14 October 2008 that the bank had a strong credit profile, but a relatively low credit rating as it is rated on a
stand-alone basis. But given its importance to the Indian economy, the agency believes it would 'receive extraordinary
systemic support in the event of any financial distress', and is therefore unlikely to fail.
important thing to note is that your savings are covered under the compensation scheme so i will put some of my savings
with them as i am look to spread them between a number of financial institutions.