Icesave launched in the UK in October 2006 as an online savings provider. Icesave is part of Landsbanki, one of the largest quoted financial services companies in Iceland, with worldwide assets totalling Euro 31.9bn, and assets exceeding £6bn here in the UK. So you can be sure that the financials underpinning Icesave are pretty strong.

Since 2006 Icesave has attracted over 200,000 customers and continues to grow thanks to its attractive interest rates and simple and transparent application process. Facts that ensure Icesave consistently appears at the top of best buy tables in the National Press and on financial comparison websites.

Icesave currently have three great products on offer. First up is their cash ISA which has a competive tax-free interest rate of 6.1%, for savers over 18 years old with a minimum £1,000 to invest. The maximum amount you can save is £3,600 per annum, as it is for all other cash ISA accounts. The account also offers an interest rate guarantee which means the minimum rate payable will be 0.30% above the Bank of England base rate until 31/01/2011. What’s more, there are no notice periods or early withdrawal penalties.

Secondly, their Easy Access savings account offers an interest rate of 6.30% and also comes with the guarantee that the interest rate will beat the base rate by at least 0.35% until 1st May 2011 and at least match the base rate until 1st May 2013. Again there are no notice periods or withdrawal penalties and you can open an account with as little as £250. And if that wasn’t enough, you can choose to receive your interest either monthly or annually. This account is ideal for regular savings. For example if you want to tuck some money away for the kids when they’re ready to go to college or university.

Icesave also offer a fixed rate savings account with an interest rate of up to 7.06%, depending on whether you choose to save for 6 months or 1, 2 or 3 years. The interest rate is fixed for the term you select and interest can be paid montly or annually. As you’d expect from a fixed rate account, the minimum deposit is £1,000 and there can be no additions or withdrawals during the period.

So with great interest rates, a good range of products that offer something for all savers,  and the fact you can open an account online in under ten minutes, means Icesave is definitely worth looking at when you’re shopping around for a better home for your money.

Tags: bank of england, icesave, landsbanki

This entry was posted on Saturday, August 23rd, 2008 at 10:29 am and is filed under Banking, Savings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.