IceSave Easy Access Savings Account
The IceSave Easy Access savings account is one of a recent clutch of foreign-owned banks, in this case Icelandic, targetting UK investors with an attractively high interest rate. In case the foreign ownership worries you, there's no need - they operate a UK based callcentre, and are fully regulated and authorised by the FSA and offer the exactly same levels of customer protection as any other bank operating in the UK.
The account features a no-strings-attached interest rate of 6.05% AER, with a guarantee to beat the Bank of England Base Rate by at least 0.25% until 1st October 2009, and after that to at least match the Base Rate for another two years, so there'll be no need keep an eye on the rate you're being paid - you'll know it'll still be attractive.
You can choose to have the interest paid monthly, albeit at a slightly poorer rate, and you can open an account with as little as £250. There's no notice period for withdrawing funds, neither is there any interest penalty for doing so.
All in all, the IceSave account is a no-frills, no-fuss savings account offering an attractive rate guaranteed to stay competitive for several years into the future.
IceSave Savings : Summary
| Account: | Icesave |
| AER: | 6.05% |
| Interest Paid: | Annually |
| Minimum Investment: | £250 |
| Maximum Investment: | £2,000,000 |
| Comments: | With a base rate guarantee until October 2011 |
