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penbat1

Icici Now Offering 6.3% 12month Term Account

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And if they weren't classed as borderline Junk Bonds by Moody's.

I dont give a monkeys about that but what has completely put me off is that interest is only paid at the end of 12 months - i much prefer monthly interest which you get with the regular Hisave account.

Edited by penbat1

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I dont give a monkeys about that but what has completely put me off is that interest is only paid at the end of 12 months - i much prefer monthly interest which you get with the regular Hisave account.

Well yeah, but it's swings and roundabouts, as you probably know. ICICI's headline savings account rate will be for annually paid interest - if you want interest paid monthly then the interest rate will be lower to factor in the effects of compounding.

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What happens if RPI "falls" to 2.9% or less (could easily do given the manipulation...) and you choose a 5 year certficate paying RPI + 0.95% in the first year?

Remember, people were quoting 10+% "visible" inflation back in late 2005 but RPI was 2.4% back then...

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Well if RPI averages less than 2.9% over the next year I would -- after consuming my hat -- stick the proceeds into a high interest savings account instead. You aren't locked in with the certs - you can cash em in anytime you want. The only thing is you don't earn any interest if you cash out before a year is up.

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