Savings Accounts Guaranteed to Increase Rates (May '07)

[Mr Mumble]

Yep, back again!

Please note: this list is for accounts with a guaranteed rate rise only. The list excludes accounts with guarantees below the base rate and accounts where there is a bonus rate of less than a year. All interest rates are Annual Equivalent (AER), not gross.

Easy Access Accounts

Account Name: Current % AER or raised rate --> Minimum rate rise or announced rise (rate guarantee expiry date)

Coventry BS Sixty-Plus Saver Issue 2 (including bonus): 6.25
Coventry First (including bonus): 6.10
IceSave Easy Access: 5.95 (1/10/09 br+0.25, 1/10/11 br)
ICICI Hisave: 6.05 (31/12/2007)
Derbyshire BS EasySave Tracker (including bonus): 5.70
Derbyshire BS LE Tracker Issue 3 (including bonus): 5.70
Yorkshire BS e-saver: 5.40 --> 5.50 ("for life")
Cheshire BS 50 Plus Freedom: 5.55 (31/12/10)
Capital One Base Beater Savings: 5.55 (01/07/10)
Nationwide BS Monthly Income 60+: 5.60 (31/1/11)
Britannia BS Direct Saver: 5.50 (31/7/07)
Newcastle BS Bond 55 yearly interest: 5.50 (5/4/10)
Northern Rock branch based Silver Savings: 5.50 (31/1/10)
Abbey 50+ Saver Issue 2: 5.75 (1/7/08)
Stroud and Swindon Branch Premier: 5.50 (30/09/08)
Egg Savings (see notes): 5.50 (31/12/07)

Notice Accounts

Coventry BS Sixty-Plus Saver Notice Issue 3 (including bonus): 6.10
Nottingham BS Postal Tracker 60 Issue 4: 6.05 (1/2/09)
Dunfermline Base Rate Tracker Issue 11: 5.75
Northern Rock Silver Savings 30: 5.54 (31/1/10)
Principality BS 60+ Monthly Income: 5.50 (1/1/09)
Catholic BS Ascension 45: 5.25 --> 5.50 ("always")

Limited Access or Withdrawals

Nottingham BS Postal Tracker 60 Issue 3&4: 6.05 (1/5/08)
Post Office - Instant Saver (including bonus): 5.75(1/1/08)
Heritable easy access issue 1 monthly interest: 5.76 (1/1/09)
Mansfield BS Postal Tracker Three Issue 2: 5.60
Bradford & Bingley Premier Tracker: 5.50 (31/1/08)
Halifax/BoS Guaranteed Saver: 5.50 (16/7/08)
Nationwide BS Loyalty Tracker Bond (50K+): 5.50 (2 year term)

Easy Access cash ISAs

NS&I Direct ISA: 6.05 (5/4/08)
National Counties BS Guaranteed ISA: 6.01 (5/4/08)
Abbey Direct ISA (including bonus) £9K+: 6.00 (1/5/08)
Derbyshire BS 55 Plus ISA issue 2: 5.90 (5/4/08)
Abbey Direct ISA (including bonus) <£9K: 5.75 (1/5/08)
IF Mini Cash ISA: 5.60 (31/12/07)
M&S Money ISA: 5.50 (31/12/07)
Saga Secure ISA £12K+: 5.50 (first 12 months)
Newcastle BS 55 ISA: 5.50 (5/4/10)

Notice Period cash ISAs

Dunfermline Base Rate Tracker ISA: 5.65 (30/06/08)

Notes:
Egg only guarantee their Egg Savings rate for those accounts opened before 1 January 2007.

The following accounts all have base rate guarantees but even with the Bank of England hike they still beat their guarantee:

Northern Rock Silver Savings Online (6.01%)
Heritable Bank 90 Day Notice Issue 4 (6.00)
Anglo Irish Bank 7 Day Notice (5.90)
Anglo Irish Bank Easy Access Deposit (5.85%)
Bradford & Bingley ESavings 3 (5.80%)
Heritable Bank easy access issue 1 Yearly interest (5.81)
Mansfield Building Society First Class Tracker Issue 7 (5.80%)

Alliance & Leicester Premier ISA (8.1%)
Egg Cash ISA (6.05%)
Bradford & Bingley ESavings ISA (5.80%)

Of course, these accounts may still see a rise in interest rate.

Request for info:
Need to know whether there are any closed accounts that still have guarantees.

Please mention any mistakes. :)

[Kazza242]

thisismoney's Has your savings rate risen? (http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=420200&in_page_id=7) article is very useful to savers wishing to track savings rate increased.

According to Moneyfacts (http://www.moneyfacts.co.uk/savings/bestbuys/internet-savings-accounts.aspx), Icesave's rate increases to 5.95% from May 18th.

[Kazza242]

Mr Mumble, according to Moneyfacts, here (http://www.moneyfacts.co.uk/savings/bestbuys/savings_no_notices.aspx), Heritable Bank are increasing their Easy Access account rate to 5.81%, w.e.f. 18th May.

[humfer]

Great that NS&I Direct ISA rises with immediate effect. Anyone know when the Abbey Direct ISA will rise by 0.25%. It guarantees to match the rise but doesn't state how long it takes to react to base rate changes

[ManAtHome]

THink most of them with guarantees have up to 28 or 30 days to increase. The better ones don't hang about...

[MIKELSOK]

Mr Mumble

Do you include in your list any online saving accounts?

Icesave have pledged today to increase theirs on the same day as the BOE base rate rise to 5.95% AER

see link:http://www.icesave.co.uk/breaking-news.html

They seem to be one of the few banks that automatically increase their rates.

[ManAtHome]

Icesave is in the list (4th one down in the Easy Access Accounts list). Mr Mumble don't miss much...

Icesave and NS&I have been consistently at the front in raising their rates so far - well recommended.

[GCH888]

Icesave have pledged today to increase theirs on the same day as the BOE base rate rise to 5.95% AER

see link:http://www.icesave.co.uk/breaking-news.html



Oh dear ... ICESAVE seems to have removed this rate announcement from the breaking news link this morning. Perhaps they're having second thoughts with 5.95% AER?

[martyn4764]

Oh dear ... ICESAVE seems to have removed this rate announcement from the breaking news link this morning. Perhaps they're having second thoughts with 5.95% AER?


No, it's there now, as well as on the front page :beer:

[Chris2000]

Request for info:
Need to know whether there are any closed accounts that still have guarantees.

Yorkshire BS e-Saver account has a 'base rate for life' guarantee.
Closed to new customers on 17/07/2005.

[skipitchski]

No, it's there now, as well as on the front page :beer:

I'm a customer and today received an e-mail to confirm the rate rise too! :j

[codetown]

no updates in the last week?

[Mr Mumble]

Good job keeping me on my toes codetown! Very little change recently, other than Abbey that I've now updated. Announcements seem to either be immediate for the kudos of a quick rise or, especially with big banks and mortgage lenders, an announcement is made as late as possible.

[TomJ]

Yep, back again!

Please note: this list is for accounts with a guaranteed rate rise only. The list excludes accounts with guarantees below the base rate and accounts where there is a bonus rate of less than a year. All interest rates are Annual Equivalent (AER), not gross.

Easy Access Accounts

Account Name: Current % AER or raised rate --> Minimum rate rise or announced rise (rate guarantee expiry date)
<snip>
Coventry First (including bonus): 5.75 --> 6.00
<snip>

Please mention any mistakes. :)

You seem to be listing the gross rate rather than the AER for the Coventry First account... The current AER is 5.85%, which is guaranteed to rise to 6.1% within a month of the base rate rise (ie in the next fortnight).