ICICI Bank HiSAVE Savings Account 4.1% - anyone heard of them?

[saskwatcher]

I saw an ad while on www.canada.com for ICICI Bank HiSAVE Savings Account 4.1%. Interest rate is good but has anyone heard of them?

Also, the interest rate is not an introductory rate - it applies to "balances in the accounts of new and existing customers".

The link at http://www.icicibankcanadapromotions...E=247_BAN_CPA#
does not have much other info, other than an online application.

The link to the Privacy Policy says "The page that you are trying to view right now is not available for display. We regret the inconvenience caused to you." which is not a good sign.

Any comments?

[CheapCanuck]

Their ads are all over the place on the net right now, so they are pushing hard to drum up business, but I don't know of anyone that has had any dealings with them.

[Octavius]

I saw an ad while on www.canada.com for ICICI Bank HiSAVE Savings Account 4.1%. Interest rate is good but has anyone heard of them?

Also, the interest rate is not an introductory rate - it applies to "balances in the accounts of new and existing customers".

The link at http://www.icicibankcanadapromotions...E=247_BAN_CPA#
does not have much other info, other than an online application.

The link to the Privacy Policy says "The page that you are trying to view right now is not available for display. We regret the inconvenience caused to you." which is not a good sign.

Any comments?

No doubt about it, it's a sketchy virtual bank to say the least. Do a search and you'll find that a large number of people here on RFD (I'd argue the majority) have had problems with them in the past - including losing their funds in transit from the originating bank (which took many months to recover) and including not being able to access their funds for some very strange reason that the CSR could not explain.

I've heard too many horror stories about ICICI. I'd rather deal with any other bank besides them, even if it means I take a cut in the interest rate that the bank will pay me.

[saskwatcher]

Altamira High-Interest CashPerformer now at 4.15% - follow link to thread at http://www.redflagdeals.com/forums/s...d.php?t=515179

[saskwatcher]

I've heard too many horror stories about ICICI. I'd rather deal with any other bank besides them, even if it means I take a cut in the interest rate that the bank will pay me.

I guess I should have done a search, instead of starting yet another thread about ICICI.

Check out "Warning about ICICI" at http://www.redflagdeals.com/forums/s...d.php?t=474169

Check out "Icici Hisave personal review of," at http://www.redflagdeals.com/forums/s...d.php?t=498843

[AllWheelDrift]

Altamira High-Interest CashPerformer now at 4.15% - follow link to thread at http://www.redflagdeals.com/forums/s...d.php?t=515179

Actually, that's a very old post. Altamiara is currently paying 3.6%.

As for ICICI, I suspect they may be in desperate need of cash. I noticed that through my brokerage they are offering GICs significantly higher than anyone else, and their savings account is also one of the highest (excluding other's short term bonus rates.) They haven't been dropping their rates nearly as fast as the prime rates. Also, they called me up pretty much begging for me to give them my business again. (Wanting to resolve concerns that I'd given up hounding them about a year ago.) I'm guessing their terrible customer service has caught up with them and resulted in a poor reputation that is hurting them badly now.

[xlfe]

i just like their short term gics non-cashable.

I have a rrsp account with them...i haven't received anything from them about it... it worries me a bit that they haven't sent my any slips.

got my pcf slip weeks ago.

i believe hsbc is the current highest with it's promotion going on.

[don242]

Etrade still remains at 4.15% for their high interest savings account. I was looking at it yesterday a little but didn't find much out. I wonder if their rates will drop soon as well?

[AllWheelDrift]

i just like their short term gics non-cashable.

Do they remember to credit the GICs back to your account when they mature these days? Back when I dealt with ICICI, the GIC would mature and "disappear" but the money wouldn't end up back in my savings account until I called them up to complain about it. I bet they weren't paying any interest while it was "lost".

[jeeva86]

I've been using their savings account for about a year now and didn't have any problems yet. I guess it's hit and miss. If you don't do anything overly complicated, they won't **** up.

[AllWheelDrift]

I've been using their savings account for about a year now and didn't have any problems yet. I guess it's hit and miss. If you don't do anything overly complicated, they won't **** up.

Depends if you condsider using the web interface to buy GICs or linking a USD bank account complicated? Or is expecting to get your signup bonus a complication?

[asmielia]

I've been using their savings account for about a year now and didn't have any problems yet. I guess it's hit and miss. If you don't do anything overly complicated, they won't **** up.

Same here, I'm happy enough with the service. Fast turnaround times for transactions, usually less than a day. I've never done anything more complicated than transferring money in or out though. They've had some comical bugs with their website, but nothing to get me too worried yet.

[asmielia]

Depends if you condsider using the web interface to buy GICs or linking a USD bank account complicated? Or is expecting to get your signup bonus a complication?

Yes, all of that sounds way too complicated for ICICI. I'd use someone else for anything like that. Except the signing bonus. I've gotten all my signup and referral bonuses ok. They must dislike you due to your aforementioned complaints about the GIC and US account.

[xlfe]

Do they remember to credit the GICs back to your account when they mature these days? Back when I dealt with ICICI, the GIC would mature and "disappear" but the money wouldn't end up back in my savings account until I called them up to complain about it. I bet they weren't paying any interest while it was "lost".

Don't scare me like that hahaha
My gic term matures in april, i'll let u know if i remember if it magically "disappears".

Out of topic but i cashed in my outlookfinancial GICs, took 2 minutes over the phone. and within 5 minutes i got my principle and some interest, which i wasn't expecting put into my savings account. unfortunately though they have a 2% interest penalty so i was making approx 3.25% which is even lower than a savings account.

[lakshmi]

ICICI bank has its signage on both DVP and Eglinton - seems like they are doing well, making a statement like that.