ICICI Signs Up To Banking Code

ICICI Bank UK, a wholly-owned subsidiary of India-based ICICI Bank Ltd has now signed up to the Banking Code. This means it must inform customers of any interest rate changes 30 days in advance and that it will tell customers when rates move by more than 0.25 percentage points compared with the base rate or by more than 0.5 percentage points within a 12-month period. ICICI Bank UK offers a HiSave online account which offers 6.41 per cent before tax (5.12 per cent net) and has a guarantee in place which ensures that it will pay the 0.3 per cent above the base rate until the end of 2011. ICICI Bank offers a range of banking products and financial services to both corporate and retail customers including investment banking, life and non-life insurance, venture capital and asset management.