SuperSaver Bond

SuperSaver Bond up to 1.80% AER

Invest securely with a fixed interest rate for the term of the bond.

  • Choose monthly, quarterly or yearly interest payments.
  • Choose a term of 6 months, 1 year, 2 years, 3 years or 5 years.
  • Minimum deposit allowed is £1000.
  • No withdrawals, early closures or additional deposits can be made during the fixed term.
  • Relationship Rewards - Get savings, improved rates and other special offers when you use our products and services.

Product Details

A secure fixed rate bond

Your deposit is tied in for the term of the bond, earning a fixed interest rate for the duration. You can only make an early withdrawal under circumstances such as the death of the account holder.

 

Find out more in our SuperSaver Bond FAQs. 

 

Choose your interest plan

Control your finances with interest paid monthly, quarterly or annually. Your interest is paid to your ICICI Bank UK HomeVantage Current Account, which your SuperSaver Bond is linked to.

 

Individual or joint accounts

You can open a SuperSaver Bond individually or jointly or both.

Product Summary

Super saver bond

Account Name SuperSaver Bond

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?

Annual interest payout

 GrossAER
6 month

1.00%

1.00%

1 year

1.30%

1.30%

2 years

1.50%

1.50%

3 years

1.50%

1.50%

5 years

1.80%

1.80%

 

Quarterly interest payout

 GrossAER
6 month

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%

 

Monthly interest payout

 GrossAER
6 month

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%

Gross1 - Gross is the rate of interest before the deduction of the tax applicable to interest on savings account.

AER2 - 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 subject to change and may vary from time to time. 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)

 

Interest is calculated on a daily basis on the total balance in your account at the relevant gross rate.

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 1 year 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.

How do I open and manage my account?

Eligibility:

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

  • 18 years or above
  • Holding a HomeVantage Current Account with ICICI Bank UK PLC
  • 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 Bond.

 

Alternatively you can complete the application form which you can find on our website http://www.icicibank.co.uk 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

  • Regular transfer set up:
    • You can set up regular transfers from your ICICI Bank HomeVantage Current Account to the SuperSaver Savings Account.
    • There is no limit on the minimum or maximum amount you can deposit each month.
    • To set up a standing instruction on your Current Account, please access your account online or enquire with our branch staff.

Can I withdraw money?

No early withdrawals from a SuperSaver Bond are allowed before the end of the agreed term. In exceptional circumstances withdrawal may be permitted before the term of the SuperSaver Bond concludes however this may result in loss of interest.

Additional information

Interest on Super Saver Bond can be paid monthly, quarterly or annually. Your interest is paid to your ICICI Bank UK HomeVantage Current Account, which your SuperSaver Bond is linked to.

Access

Branch, Phone banking, Email

 

Key Product Features

  • Rate guarantee during the term of the deposit
  • Optional automatic renewal facility
  • Easy management
  • Periodic interest payment options.

 

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 to do if you have a complaint?
    If you wish to register a complaint, please contact us promptly at:
    ICICI Bank UK PLC,
    Customer Relations,
    2nd Floor,
    One Thomas More Square,
    London E1W 1YN
    Or
    Call our Customer Service Centre 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 us 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 Bond Rates effective from April 1, 2016

Click here for annual interest payout


 GrossAERNetTax Free
6 month

1.00%

1.00%

0.80%

1.00%

1 year

1.30%

1.30%

1.04%

1.30%

2 years

1.50%

1.50%

1.20%

1.50%

3 years

1.50%

1.50%

1.20%

1.50%

5 years

1.80%

1.80%

1.44%

1.80%

Click here for quarterly interest payout


 GrossAERNetTax Free
6 month

1.00%

1.00%

0.80%

1.00%

1 year

1.29%

1.30%

1.03%

1.29%

2 years

1.49%

1.50%

1.19%

1.49%

3 years

1.49%

1.50%

1.19%

1.49%

5 years

1.79%

1.80%

1.43%

1.79%

Click here for monthly interest payout


 GrossAERNetTax Free
6 month

1.00%

1.00%

0.80%

1.00%

1 year

1.29%

1.30%

1.03%

1.29%

2 years

1.49%

1.50%

1.19%

1.49%

3 years

1.49%

1.50%

1.19%

1.49%

5 years

1.79%

1.80%

1.43%

1.79%

Click here for SuperSaver Bond Interest Rate History

How to Apply

1 Who is eligible?

To open a SuperSaver Bond you need to deposit at least £1000 and you also need to hold a HomeVantage Current Account.

 

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.