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What Does ICICI Bank UK’s SuperSaver Term Deposit Offer?

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 and no maximum limit.

No withdrawals, early closures or additional deposits can be made during the fixed term.

Product Overview

Product Details - A Secure Fixed Term Deposit Account


A Secure Fixed Term Deposit 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.

Interest Rates


USD Rates effective from 25th May 2021

TermGross2AER3
6 month 0.25% 0.25%
1 year 0.25% 0.25%
2 years 0.25% 0.25%
3 years 0.25% 0.25%
5 years 0.25% 0.25%

Click here for interest rate history

 GBP Rates effective from 23th November 2020

TermGross2AER3
6 month(183 days) 0.15% 0.15%
1 year 0.25% 0.25%
2 years 0.25% 0.25%
3 years 0.25% 0.25%
5 years 0.25% 0.25%

Click here for interest rate history

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.

Eligibility


You are eligible to open a SuperSaver Term deposit if you:

  • Are 18 years or above
  • Hold a HomeVantage Current Account with ICICI Bank UK
  •  Satisfactory identity and address verification

How to Apply


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 (click here) and provide us with the proof of your identity and address.

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 Term Deposit 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 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.

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


For £1000 invested for 1 year at interest rate of 0.25% (AER), you will earn approximately £2.50 interest (gross). This is applicable when amount is invested for complete year.

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 has the right to change the rate of interest.
  • Interest rate on SuperSaver Term Deposit is fixed for term and will not be changed during the tenor. For other savings account please read our  terms and conditions.
  • No withdrawals, early closures or additional deposits can be made during the fixed term.
  • Read the T&C for complete information.

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.

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).


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 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.