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ICICI Interest Rates
July 19, 2022
9:34 am
rebel88
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Does anyone still bank with ICICI as their interest rates on GIC's and HISA appear to be stuck in the past. Are they aware of today's financial situation?

July 20, 2022
7:20 am
gicjunkie
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Current rates as per website:

1 Year 3.50%
2 Years 4.00%
3 Years 3.50%
4 Years 3.50%
5 Years 3.50%

https://www.icicibank.ca/en/personalbanking/personal/popup_td

We used to deal with them, but found them to be difficult. They did not adhere to agreement made wrt method for annual interest payments for GIC. Won't deal with them again.

July 20, 2022
8:07 am
Bill
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This is one of the few banks where I closed my accounts years ago, haven't missed out on anything since, far as I know.

July 20, 2022
9:42 am
semi-retired
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Just bought a ICICI 2 yr GIC through BMO investorline at 4.48%

July 25, 2022
10:22 pm
rebel88
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semi-retired said
Just bought a ICICI 2 yr GIC through BMO investorline at 4.48%  

But their HISA is showing 0.75% on their website. Who offers such a low rate on a savings account?

July 26, 2022
12:08 am
HermanH
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Plenty of folks. i.e. 1st Choice CU, current $100K limited 3-mo promotion notwithstanding.

HSBC has 0.5% for balances under 25K.

July 26, 2022
9:44 pm
LeBronBMT
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semi-retired said
Just bought a ICICI 2 yr GIC through BMO investorline at 4.48%  

Is that 4.48% total, so 2.24% annually, or is it actually 4.48% per annum?

July 27, 2022
7:05 am
Norman1
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It was likely 4.48% per annum. Currently, ICICI Bank 2 year GIC is 4.38% per annum through BMO InvestorLine.

Best two year GIC rate there at the moment is 4.45% issued by Concentra Bank.

July 27, 2022
12:22 pm
smayer97
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LeBronBMT said

Is that 4.48% total, so 2.24% annually, or is it actually 4.48% per annum?  

When rates are quoted, it is customary and standard practice to assume it an annualized rate.

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