SuperSaver Term Deposit

SuperSaver Term Deposit up to 1.80% AER

Our SuperSaver Term Deposit is a savings option which pays you a fixed rate of interest for a fixed term.

  • Save with a fixed interest rate for a term of 6 months, 1 year, 2 years, 3 years or 5 years
  • Deposit GBP, US Dollars
  • Access to your account through the branch or over the phone
  • Minimum deposit required is GBP 1,000, USD 1,000

Know More >

Product Details

A secure fixed rate account

  • Earn a fixed interest rate on your savings for the full term
  • Invest a minimum of £1000 (there is no maximum)
  • Access to your account – online or phone

Find out more in our SuperSaver Term Deposit FAQs.

 

Flexible saving options

  • Choose to save in GBP or US Dollars
  • Select a savings term of 6 months, 1 year, 2 years, 3 years or 5 years
  • Open an account individually or jointly.

Please see our terms and conditions.

Product Summary

Account Name SuperSaver Term Deposit

About us

ICICI Bank UK PLC has its registered office at One Thomas More Square, London E1W 1YN. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268). It is subject to the laws of England and Wales. It is registered in England and Wales as a public limited company (Registration Number 04663024).

Account provider

ICICI BANK UK PLC – We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268).

 

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.

 

In respect of deposits, from 1 January 2016, an eligible depositor is entitled to claim up to £75,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £75,000 each (making a total of £150,000). The £75,000 limit relates to the combined amount in all the eligible depositor’s accounts with us including their share of any joint account, and not to each separate account.

 

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.fscs.org.uk or call the FSCS on 0800 678 1100 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.

What is the interest rate?

USD Rates

Term1Gross2AER3
6 month

1.30%

1.30%

 

Term1 - Terms other than one year are not available for new deposits.

 

GBP Rates

Term2 Gross2 AER3
6 months(183 days)

1.00%

1.00%

1 year

1.29%

1.30%

2 years

1.49%

1.50%

3 years

1.49%

1.50%

5 years

1.79%

1.80%

Term2- Terms other than six months (183 Days), 1 year, 2 years, 3 years or 5 years are not available for new deposits.

 

Gross2 - Gross is the rate of interest before the deduction of the tax applicable to interest on savings account.

AER3 - AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Note: Interest is paid gross. If you are a UK tax payer you may have to pay tax on interest earned in excess of your Personal Savings Allowance. For information and guidance, please refer to the HMRC website.

 

Interest Rates are fixed for the term of the deposit.

 

Interest Rates on SuperSaver Term Deposit can change periodically. The rate applicable on your deposit will be as prevalent on the date of deposit opening.

To check the latest interest rates ;

(Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls)

Can ICICI Bank UK PLC change the interest rate?

ICICI Bank UK PLC has the right to change the rate of interest.

  • ICICI Bank UK PLC will keep you informed about changes in the interest rates on your Account/s by sending you a personal notice within 30 days of the change.
  • If ICICI Bank UK PLC reduces the interest rate to your disadvantage, you will be given two months prior notice and if you wish, we will close your Account or help you switch your Account to a Bank of your choice.

Read the T&C for complete information.

 

What would the estimated balance be after 1 year based on a £1000 deposit?

 

For £1000 invested for 1year at interest rate of 1.30% (AER), you'll earn approximately £13.00 interest (gross). This is applicable when amount is invested for complete year and the interest is not withdrawn from the account.

How do I open and manage my account?

Eligibility:

You are eligible to open the SuperSaver Term Deposit if you meet the below criteria;

  • 18 years or above
  • Satisfactory identity and address verification

 

Steps to open SuperSaver Bond:

Visit any ICICI Bank UK PLC branch and meet a member of branch staff to open your SuperSaver Term Deposit.

 

Alternatively you can complete the application form which you can find on our website and provide us with the proof of your identity and address.

Joint account:

You can open an individual or a joint account or both.

Documents required to open the account:

  • If applying through phone or online - existing HomeVantage Current Account holder (account held > two years) :

    We will carry out an electronic identity check before your SuperSaver Savings Account can be opened. If we cannot identify you electronically, then we will request you to visit one of our UK branches with original identity and address documents.

  • If applying through a Branch:
    • You need to submit:
      • A valid proof of identity
      • A valid proof of address
  • Minimum balance:

    £1000.00, $1000.00

  • Regular transfer set up:

    Not available

Can I withdraw money?

Withdrawals are not permitted for the term of deposit

 

Premature closure of a Term Deposit is allowed before the end of the agreed term however this may result in loss of interest.

Additional information

There are no standard charges on SuperSaver Term Deposit Account offered by ICICI Bank UK PLC. However there are charges levied for certain services/facilities provided for day to day running of your account. We recommend that you go through the Rates and Charges Schedule in our website http://www.icicibank.co.uk before making a choice.

Access

Branch, phone banking

 

Key Product Features

  • Fixed Rate for the term of the deposit
  • Interest paid on maturity
  • Available in GBP,or USD

Key Facts

  1. Who regulates us?
    ICICI Bank UK PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268). ICICI Bank UK PLC (Company number 04663024) has its registered office at One Thomas More Square, London E1W 1YN.
  2. What you should do if you have a complaint?
    If you want to make a complaint please contact us at:
    ICICI Bank UK PLC,
    Customer Relations,
    2nd Floor,
    One Thomas More Square,
    London E1W 1YN
    Or
    Telephone Customer Relations at 0344 412 4444 (Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls)
    Or
    Email at ukcustomerrelations@icicibank.com
    We will then arrange for a member of the complaints team to investigate and respond to you accordingly.
  3. Are we covered by the Financial Services Compensation Scheme (FSCS)?

    ICICI Bank UK PLC is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.

    In respect of deposits, from 1 January 2016, an eligible depositor is entitled to claim up to £75,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £75,000 each (making a total of £150,000). The £75,000 limit relates to the combined amount in all the eligible depositor’s accounts with us including their share of any joint account, and not to each separate account.

    For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.fscs.org.uk or call the FSCS on 0800 678 1100 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.

Interest Rate

SuperSaver Term Deposit USD Rates (AER/Gross) effective April 01, 2016

 

  Gross AER
1 Year 1.30% 1.30%

 

Terms other than one year are not available for new deposits.

 

Click here for interest rate history

 

SuperSaver Term Deposit GBP Rates (AER/GROSS) effective April 01, 2016

 

  Gross AER
6 months (183 days) 1.00% 1.00%
1 Year 1.30% 1.30%
2 Years 1.49% 1.50%
3 Years 1.49% 1.50%
5 Years 1.79% 1.80%

 

*Interest paid on AER basis

 

Terms other than six months (183 Days), 1 year, 2 years, 3 years or 5 years are not available for new deposits.

 

Click here for interest rate history

How to Apply

1 Who is eligible?

To open a SuperSaver Term Deposit you need to deposit at least £1,000 or $1,000.

 

2 What documents do I need?

  • You need to submit:
    • A valid proof of identity
    • A valid proof of address

Please read our short documents guide before you apply.

 

3 Download and complete the forms

Please download our application form

 

If you’d like any help while completing your form, or if you have any questions about the application process, you can call us on 0344 412 4444 (Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls) and we’ll be happy to assist you.

 

4 Submit your forms

Please bring your completed application form, proof of identity and proof of address to one of our branches.


ICICI Bank reserves the right to:

  • Decline an application for a new account
  • Change or withdraw any or all of the benefits, services or special promotions offered at any time

To ensure that we carry out your instructions accurately, to help us continually improve our service and in the interests of security, we may monitor and/or record your telephone calls made to us.

You can access our full terms and conditions here.