Icesave

planemad · 11 April 2008 at 4:56PM

Rate to remain untouched on easy access account.

http://www.icesave.co.uk/savings-news-icesave.html

Griffboy · 11 April 2008 at 5:05PM

:beer: Is this good news? I hope so.

bristolleedsfan · 11 April 2008 at 5:12PM

planemad wrote: »

Rate to remain untouched on easy access account.

http://www.icesave.co.uk/savings-news-icesave.html

Kaupthing edge are freezing its 6.50% rate as well. :beer:

Greycrow · 11 April 2008 at 5:22PM

Very good news, but expect the propaganda war to escalate.

nilrem_2 · 11 April 2008 at 10:14PM

Good news indeed, but as mentioned the anti Icesave brigade will say "Oh they had to do that cos they are losing so many customers" it's ironical that some would have preferred them to reduce the rate to give them confidence!

:D

chesky369 · 11 April 2008 at 10:33PM

And I intend to get one of their 6.8% 6-month deals on 12th April - hey, that;s tomorrow.

[Deleted User] · 11 April 2008 at 10:41PM

nilrem wrote: »

Good news indeed, but as mentioned the anti Icesave brigade will say "Oh they had to do that cos they are losing so many customers" it's ironical that some would have preferred them to reduce the rate to give them confidence!:D

Another way of looking at it is... Icesave have SO much money, that they can afford to pay such high rates!!!!:D It has a much nicer ring to it don't you think!

chris1 · 12 April 2008 at 10:28AM

or the fact that Iceland's interest rate is 15%, which makes 6.05 sound like a bargain...

planemad · 12 April 2008 at 10:42AM

chris1 wrote: »

or the fact that Iceland's interest rate is 15%, which makes 6.05 sound like a bargain...

Yeah pay us British savers 6.05% and lend that money out in Iceland for 15%.
That amounts to a nice bit of profit for Landsbanki.

chesky369 · 12 April 2008 at 11:07AM

.....That amounts to a nice bit of profit for Landsbanki.....

guess that's what they're in business for, after all.

noh · 12 April 2008 at 11:09AM

planemad wrote: »

Yeah pay us British savers 6.05% and lend that money out in Iceland for 15%.
That amounts to a nice bit of profit for Landsbanki.

Only becomes a profit if they can manage the exchange rate risks effectively.
If you look at this link http://www.tititudorancea.com/z/gbp_to_isk_exchange_rates_british_pound_iceland_krona.htm
you will see that in recent weeks there has been 10% changes.

Nigel

Icesave

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