More about HiSAVE Notice Savings Account

HiSAVE Notice Savings Account 1.40% AER

  • Get upto 1.40% AER standard variable interest rate.
  • Start saving with as little as £1.
  • Unlimited withdrawals with no penalties, withdrwals notice 45 days and 95 days
  • Manage account using online and phone banking.
  • Notice accounts give you flexibility with your savings and the opportunity to earn higher interest than with an easy access account. You can top up your savings over time and have access if you give the required amount of notice.
  • Link to your nominated linked current account.
  • Withdrawals can be made to linked current account or In addition if you have HiSave savings account direct transfers can be made from HiSAVE Notice Savings account to HiSAVE Savings Account / HiSAVE SuperSaver Savings Account.
  • Monthly interest payments for standard variable interest rate
  • Account management services are currently not available on Mobile Banking App for Hisave Notice Savings Account.

Product Summary

Account NameHisave Savings Account

Account Name

HiSAVE Notice Savings Account

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 30 January 2017, an eligible depositor is entitled to claim up to £85,000. 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 £85,000 each (making a total of £170,000). The £85,000 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 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?

Standard Monthly variable Interest Rate


Effective fromNotice Period% AER% Gross
01 May 2020 45 Days 1.25% 1.24%
15 June 2020 95 Days 1.40% 1.39%

Standard Monthly variable Interest Rate (new rate will be effective as above)


Notice Period% AER% Gross
45 Days 1.40% 1.39%
95 Days 1.60% 1.59%


Interest is accrued daily on the day end cleared balance and paid into your Account on the last business day of each month. This means that interest is compounded monthly.

Can ICICI Bank UK PLC change the interest rate?

  • Yes, the standard Monthly variable rate can be changed.
  • We will keep you informed about changes in the interest rates on your account.
  • If the change is to your advantage, we will tell you within 30 days of the change.
  • If a change in interest rate is not to your advantage, we will always notify you in advance of the change taking effect.
    • For Notice accounts - a period of 14 days plus the notice period required for withdrawals on your account type, will be applicable. Example; For a 45 days’ Notice account, the new interest rate will be effective after a period of 14 days plus 45 days.
    • Where we reduce the interest rate on your account you will have an option to close your account (subject to that account’s terms and conditions) without incurring charges or loss of interest or switch to another account (subject to the terms and conditions of your existing and new account). If you wish to switch or close your account, please inform us accordingly.

What would the estimated balance be after 12 months based on a £1000 deposit?


  • On an amount of £1000, deposited for 12 months at standard variable interest rate of 1..60% (AER), you'll earn an interest of approximately £16.00.

The above example is applicable when amount is deposited for complete year and is not withdrawn from the account

How much can I save?

Minimum £1; There is no maximum amount.

How do I open and manage my account?


You must be a UK resident  and aged 18 or over. Please note:

  • The UK does not include the Channel Islands and the Isle of Man.
  • Businesses cannot open HiSAVE Accounts.
  • You need to provide the account number and sort code of a UK bank or building society current account held in your name(s), and should offer direct debit payment facilities & should have electronic funds transfer facility. We occasionally ask for copy of your Bank statement.
  • For Joint Account, The account must have a chequebook in your name(s).
  • This account will be your nominated linked account – the account from which your initial deposit will be taken.
  • You must have a valid email address.
  • You can only hold one HiSAVE Notice Account in your name (single or joint) per series. You can have more than one notice account if the notice period is different, however it all account should be same pattern. (either single or joint).

Steps to open Hisave Notice Savings Account:


Existing HiSAVE customers

  • You can login, and follow the link for opening new Hisave Account or You can call us 24/7 on 0344 412 4444 (calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls).


New HiSAVE Notice Savings customers

  • Please apply online. Our simple online application should take around 10 minutes.
  • If you'd like to speak to someone before applying, you can call us We’ll be happy to help you.


To open a joint HiSAVE Notice account

Simply complete the joint account holders’ details as part of the online application.

  • Joint account holders need to have a shared current account either with us or with another UK bank. This is required so we can link your joint HiSAVE account to your joint current account.
  • Each account holder must be able to use the joint account on their own, without the permission of the other account holder.
  • If there is a disagreement between joint account holders, one or both of you should promptly contact us in writing. From the date we receive and acknowledge the correspondence, anything to do with your account has to be authorised by both account holders.


Joint account:


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


Documents required to open the account:

  • For completing the online application process you won’t need any other documents.
  • By law, before opening your account we are required to have adequate proof of your identity. For the majority of customers we’ll be able to verify your identity and address online using a variety of sources, including searches using public information bodies.
  • If we're not able to do so, we'll ask you to send us one document each to prove your identity and address in the UK. To know more about which documents are acceptable, please refer to the FAQs on applying for HiSAVE accounts


Can I withdraw money?

  • Yes, Withdrawals are only available subject to 45 days’ notice or 95 days.
  • Withdrawals can only be made in the form of transfers to your nominated linked current account.
  • Withdrawals are permitted once  the notice is served.
  • The notice period is based on calendar days and begins the day we receive your withdrawal request. If you initiate transaction on non-business day, the notice period will start from next business day
  • Your money will be transferred on the expiry of the notice date, which must be a business day, if the notice period is ending on non-business day, the transfer will be done on next business day, in accordance with the General Terms and Conditions.



Account can be closed by giving notice period mentioned in your product (either 45 Days and 95 Days)


Please refer to the Rates & Charges in the Link.


Account can be managed online and phone.

Contact details

Call us 24/7 on 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 HiSAVE enquiries

Interest Rates

HiSave Notice Savings Rates effective from 20th November 2019.


Effective fromNotice Period% AER% Gross
01 May 2020 45 Days 1.25% 1.24%
15 June 2020 95 Days 1.40% 1.39%


HiSave Notice Savings Rates effective from 20th November 2019.


Product TypeInterest rates  (AER)Interest rates  (Gross)
45 Days Notice 1.40% 1.39%
95 Days Notice 1.60% 1.59%
  • 1AER sstands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
  • 2Gross - Gross is the rate of interest before the deduction of the tax applicable to interest on savings account.
  • Interest is calculated on daily basis.
  • The standard variable interest is accrued daily and credited to the account monthly.