ICIC Bank or alike

[big dogie]

I was thinking of setting up one of those high dailly interest savings accounts perhaps with ICIC 4.5% as they have the best rates that I have seen...... any experiences good or bad with them or others PC, ING, HSBC, CTire,,,,,???

thanks
b d

 

[1HandInMyPocket]

I use ING and never had any problems with them. You get paper statements every 3 months, but of course you can check your balance via the net or phone. Occasionally, you get an additional interest on deposits with a certain time period.

 

[Mr. Downtown]

I use to have an ING account too at one time. No problems at all but do be aware that getting ahold of any requested cash made from a withdrawal can/could take up to 2-3 business days. Like making a deposit into your virtual account, the transaction must pass through your regular Bank account, into the clearing house system, before settling into the virtual bank. Same thing in reverse and the clearing does take time. Dont withdraw with the hopes of getting your hands on it the same day. Exception - ING has one branch in the GTA on Gordon Baker Road. They can cut you a same-day bank draft (at least they did for me about 3 yrs ago, so my info my be dated).

 

[bethy]

I was thinking of setting up one of those high dailly interest savings accounts perhaps with ICIC 4.5% as they have the best rates that I have seen...... any experiences good or bad with them or others PC, ING, HSBC, CTire,,,,,???

thanks
b d

new zealand offers 7%, get it from TD

 

[superman]

ICICI u mean, i had account with them, they are good, except if u have to actually go in the bank, it takes 1hour to do anything, even withdraw 20$

 

[goodtime]

I use to have an ING account too at one time. No problems at all but do be aware that getting ahold of any requested cash made from a withdrawal can/could take up to 2-3 business days. Like making a deposit into your virtual account, the transaction must pass through your regular Bank account, into the clearing house system, before settling into the virtual bank. Same thing in reverse and the clearing does take time. Dont withdraw with the hopes of getting your hands on it the same day. Exception - ING has one branch in the GTA on Gordon Baker Road. They can cut you a same-day bank draft (at least they did for me about 3 yrs ago, so my info my be dated).

An ATM @ their University & King lobby thou talk of moving it to Yonge/Shep location.

Not sure still around -- Few ING ATMs @ selective Canadian Tire stores.

In AMS, quite a few ATM branches. Some with sitdown FS ATMs.

Psss, save your money...Let's go Dutch!

 

[Malibook]

ICICI u mean, i had account with them, they are good, except if u have to actually go in the bank, it takes 1hour to do anything, even withdraw 20$

I have an ICICI Hi-Save savings account and everything is done online or over the phone, in fact, I can't do anything at the bank nor would I want to.
http://www.icicibank.ca/personal/personalaccounts/hiSave.htm

At 4.5%, ING would have to raise their rate of 3.75% by 20% to match ICICI.

 

[Bear669]

See Prior Thread

https://terb.cc/vbulletin/showthread.php?t=118906

Looks like their S&P is now BB+. Still junk.

 

[Malibook]

I get 4.5% from CIBC and Scotia...

I think ICICI is ok except for that it is not one of those protected banks...eg, if a bank goes bust you are normally protected upto $100k or so by the government..for whatever reason, I am pretty sure ICICI is not covered by this.

What is this New Zeland TD 7% thing?

Is that 4.5% daily interest savings accounts or GIC?
ICICI 1 year GIC is 4.85%.

ICICI is definitely a member of CDIC or I would have never put any money with them.
Deposits are covered up to $100,000 just like any other member bank.
You can also have up to $100,000 in an RRSP account which is also covered for a total of $200,000.
http://www.icicibank.ca/personal/personalaccounts/hiSave.htm

 

[mannyfresh]

Is that 4.5% daily interest savings accounts or GIC?
ICICI 1 year GIC is 4.85%.

ICICI is definitely a member of CDIC or I would have never put any money with them.
Deposits are covered up to $100,000 just like any other member bank.
You can also have up to $100,000 in an RRSP account which is also covered for a total of $200,000.
http://www.icicibank.ca/personal/personalaccounts/hiSave.htm

Yup ICICI is definitely protected under CDIC...Thats a common misconception I hear amongst a lot of people that ICICI may go bust and you will/may lose all your money etc. etc. But their protection is equivalent to any other major bank in Canada under CDIC....


Get the telephone/online banking Hi-Save account, they only have a handful of branches with an increasingly growing clientele. During busy hours you can be stuck in line for an hour.

 

[superman]

well i fu live near a icici bank , i say open one with them