Good Rate from Overseas Bank

Indian bank ICIC are targeting British savers with a market leading rate of 5.4% on it’s HiSave savings account, according to the BBC. The account, which is naturally internet-only, is guaranteed to be 0.25% above the base-rate until 31st December 2007, and has no restrictions on the amount invested or withdrawn.

Although the bank is run in India, it is regulated by the Financial Services Authority, and has applied to be part of the Banking Code, so investors can be reasonably sure about the safety of their money.

Many bank’s call-centers are now based in India, so I guess it is no surprise that more financial services will start to be transacted there, as well as in other foreign countries.

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