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Saga fixed interest savings account pulled
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savetilibleed
Posts: 1,363 Forumite
Just noticed Saga have pulled their Fixed Interest Savings Accounts this evening. Only just applied for one this afternoon for my wife. :j I was going to do one for myself but I hestiated and didn't do it. :mad:
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Although it has been pulled according to Saga's website, I went to Martin's article about the urgent need to fix rates, and the link there to Saga's site straight to the fixed rate bond seemed to work. So I applied for one, in case it gets through somehow. Not hopeful mind!
A bit earlier I applied for a Coventry Poppy Bond thinking the Saga deal had gone, so if they both work, I won't be able to fund both quickly enough (or even one as I'll need to transfer from YBS and B&B and neither is quick.:huh:0 -
I applied online last week when the information appeared on MSE but haven't received any paperwork yet. Just phoned them because I thought I might need to do a re-think, but was assured that my application would be dealt with and at the rate it was when I applied. Normally, they said, paperwork takes about 7 days but at the moment it is 7 - 10 days. no surprise there.:hello::hello::hello::hello:0
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I have been sitting on the paperwork since Saturday waiting for the Icesave 2nd compensation email - not sure how long Saga will wait but hoping end of next week will not be too late.
Did they say how long they would wait for you to return the application ?"How could I have been so mistaken as to trust the experts" - John F Kennedy 19620 -
If you got the Saga application in when you get it, it'll say what rate it's for and you then get to 30th to return it, they said (but not shown on the form). So if you got under the start wire you should have a bit of leeway for shifting fundssavetilibleed wrote: »Although it has been pulled according to Saga's website, I went to Martin's article about the urgent need to fix rates, and the link there to Saga's site straight to the fixed rate bond seemed to work. So I applied for one, in case it gets through somehow. Not hopeful mind!
A bit earlier I applied for a Coventry Poppy Bond thinking the Saga deal had gone, so if they both work, I won't be able to fund both quickly enough (or even one as I'll need to transfer from YBS and B&B and neither is quick.:huh:
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I have just received my application back with the account reference N0 the letter shows an interest rate of 6.85% stating they will Honor this until 30/11/08. Can i take then that any other monies i put into the account after that date will also be at this rate as I am sending them the minimum deposit.If you got the Saga application in when you get it, it'll say what rate it's for and you then get to 30th to return it, they said (but not shown on the form). So if you got under the start wire you should have a bit of leeway for shifting funds0 -
No, it doesn't work that way. You will find that no further deposits can be made after the account is pulled. Read the T&C, then all will become clear to you.0
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With previous BM offers I opened an account with £1 then transferred in the rest while the offer was still open.sweet_charriot wrote: »I have just received my application back with the account reference N0 the letter shows an interest rate of 6.85% stating they will Honor this until 30/11/08. Can i take then that any other monies i put into the account after that date will also be at this rate as I am sending them the minimum deposit.
Unlike the BM site the Saga site specifically said that no additions are allowed after the initial deposit. Could be they might allow additions like BM up to the 30th but doubt they'll allow them after that date. Seems the only option is to send them a cheque without knowing how long the funds will be lying in a current account.
The T&Cs say: "Deposits can only be made whilst the issue remains open to new investors."0 -
As a matter of interest when did you apply for your Saga account online? I applied one for my wife on 10/11/08 and for me a few minutes into the next day. We have heard nothing, no forms, email, nothing. Money sitting doing nothing waiting.sweet_charriot wrote: »I have just received my application back with the account reference N0 the letter shows an interest rate of 6.85% stating they will Honor this until 30/11/08. Can i take then that any other monies i put into the account after that date will also be at this rate as I am sending them the minimum deposit.0 -
I applied for mine on the 30th October and am still waiting for my application form. I phoned Saga again yesterday and was told all the outstanding forms were being posted out on Friday and to phone again if not received by Tuesday.0
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I applied online on 7 Nov and received form dated 10 Nov on 12 Nov. Made a second app for my wife 5 minutes after my own but she's had nothing. (I wanted two accounts for maximum FSCS benefit.) She phoned on Thurs and was told they had her app so would get it soon. Phoned again today and they now say they haven't any record of her application.savetilibleed wrote: »As a matter of interest when did you apply for your Saga account online? I applied one for my wife on 10/11/08 and for me a few minutes into the next day. We have heard nothing, no forms, email, nothing. Money sitting doing nothing waiting.
They're now sending form to convert my account to a joint account. Will wait for that before I return application. Would suggest you get rock solid confirmation from them that they have your application.0
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