HiSAVE Fixed Rate Savings Account

ICICI Bank’s HiSAVE Fixed Rate Account allows you the flexibility to choose from a term of 6 months, 1 year, 2 years and 3 years. You also get to select your interest payment period – either monthly or annual.

Earn a Loyalty Bonus interest rate of 0.10%. This applies to all HiSAVE Fixed Rate Accounts renewed between 45 days and 2 days before maturity.

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).

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 1st December 2025, an eligible depositor is entitled to claim up to £120,000. 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 £120,000 each (making a total of £240,000). The £120,000 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.

A HiSAVE Fixed Rate Account is a savings account where you lock in your money for a set term and earn a guaranteed interest rate throughout that period. Once you deposit your chosen amount, it stays in the account until the term ends, and you receive the agreed-upon interest no matter how the market changes. 

If you haven’t chosen the ‘auto-renewal’ option at the time of opening your HiSAVE Fixed Rate Account, we may email and call you before your account matures to seek your opinion on your reinvestment options.

You can also call us up to 2 days before maturity to let us know what you’d like us to do with your savings balance.

You can choose to reinvest the savings you have in your HiSAVE Fixed Rate Account into a new HiSAVE Fixed Rate Account of any term. Alternatively, ask us to pay your savings into your HiSAVE Savings Account.

If we don’t hear from you, we’ll automatically pay your savings into your HiSAVE Savings Account. This will have been set up for you automatically when you opened your HiSAVE Fixed Rate Account.

Once the savings are in your HiSAVE Savings Account, you're free to move your money whenever and wherever you wish.

Suppose you have chosen the ‘auto-renewal’ option at the time of opening your HiSAVE Fixed Rate Account. In that case, we will email you before maturity to inform you that your account will be automatically renewed at maturity for another term at the prevailing interest rate.

If you have opted for auto-renewal of your HiSAVE Fixed Rate Account, or if you instruct us between 45 and 2 days before maturity that you'd like to renew your HiSAVE Fixed Rate Account, you are eligible to receive additional interest of 0.10% above the standard rate at the time of renewal.

Yes. If you've chosen to renew your entire maturity amount, you are eligible to earn the additional interest rate over the whole amount renewed on any of the terms offered.

If you have raised a renewal request and interest rates go down at any time before the maturity date, you get the benefit of the higher rate available on the day of renewal of your HiSAVE Fixed Rate Account.

In addition, you will benefit from the Loyalty Bonus of 0.10% above that higher interest rate. Please see the table below for examples of how you stand to benefit from our Interest Rate Guarantee if you choose to renew for a 1-year term.

ICICI Bank UK PLC has the right to change the interest rate. The interest rate on your fixed term is not changed during the tenor of your account. For other variable-rate savings accounts,

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 30 days’ 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.

For £1000 invested for 1 year at interest rate of 4.50% (AER), you will earn approximately £45.0 interest (gross). This is applicable when amount is invested for complete year.