11.01.2019 | 4 minutes estimated reading time | Print this article

Kick off 2019 with a new savings account at Raisin UK

January can be a time for change and growth, as a whole year of opportunities to build something new and achieve your goals lays ahead of you. If you’re feeling invigorated to make the most of 2019, it’s a great time to do more with your savings, particularly as ICICI Bank UK has launched two new savings accounts at Raisin UK.

Why choose fixed term savings in 2019?

As the financial landscape continues to evolve, the types of savings products that you can choose from is changing. This may cause you to wonder why you should choose a fixed term savings account in 2019, but there are notable advantages that a fixed term deposit has over a Cash ISA, Easy Access Accounts, Notice Accounts and other such savings accounts:


  • The rate is fixed.



You don’t have to worry about moving your savings due to fluctuations in the base rate or any other factors which could impact the rates that banks and building societies offer. Once your fixed term deposit commences, the rate that you’ve been quoted won’t change until the maturity date.


    1. You can lock your money away for a set time.


There will always be something that you may consider putting your savings towards, but you may find that it’s beneficial to keep hold of them for a bit longer. One of the advantages of a fixed term deposit is that your savings aren’t released until the maturity date, which you may find to be quite helpful. This may be helpful for those worried about Brexit uncertainty.


    1. You can get better rates.


Because the rate doesn’t change on a fixed term deposit, it’s generally expected that you’ll be offered a more competitive rate than you would receive on a savings product such as an easy access account. The most recent update to MoneySavingExpert.com Top Savings Accounts page shows that fixed term deposit accounts offer rates of 1.2% AER more than easy access accounts.

Two new ICICI Bank UK savings accounts for 2019

To kick off 2019, ICICI Bank UK are growing their roster of savings accounts available through our marketplace, adding to their existing 9 Month Fixed Term Deposit, which is available at a rate of 1.65% AER through our marketplace, with a 2 and a 3 Year Fixed Term Deposit.

ICICI Bank UK’s 2 Year Fixed Term Deposit features a rate of 2.10% AER and their 3 Year Fixed Term Deposit a rate of 2.40% AER at the time of writing, competing with the 3 Year Atom Bank, Tandem and Union Bank of India UK that currently sit at the top of the MoneySavingExpert.com best three-year fixed rates.

Make managing your savings in 2019 easier with a Raisin UK Account

Registering for a Raisin UK Account could help you to save time and make money in 2019. You only need to fill in one application form to apply for savings products from ICICI Bank UK or any of our other partner banks.

To apply for a savings account once you’ve registered with us, all you need to do is log in at raisin.co.uk, find the savings product that you want to fund, click apply, then transfer your funds to your Raisin UK Account. That’s it. Once you’ve transferred the full funding amount to your Raisin UK Account, your deposit will be transferred to the partner bank, where your application will go through an approval process.

You can log into your Raisin UK Account at any time to manage any savings account that you’ve applied for, making it easy to see when your fixed term deposits from all of our partner banks will mature.

We don’t want you to worry about your savings in 2019, so you can rest assured that deposits made into the savings accounts that we’ve covered in this Newsroom post are covered by the FSCS up to £85,000 per person, per banking group.

Claim a welcome bonus for opening your first savings account with Raisin UK

If you’ve yet to fund a savings account at Raisin UK, you may be able to claim a welcome bonus of up to £100, giving your 2019 a little extra boost. All you need to do is fund your first savings account at Raisin UK with a minimum of £10,000. You can find out more about how our welcome bonus works and how to claim it by reading our bonus page.

A New Year of savings opportunities

Whatever you have planned for 2019, we hope that you have a prosperous year and that you achieve your goals.

This article may contain information about partner banks, savings accounts, rates and bonus offers which were correct at the time of publication on 11th January 2019.