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Chelsea Building Society Fixed Rate Bond 6.90%
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I'd love to go for this fantastic rate, but can only do so in four weeks; by which time the offer/rate will have been withdrawn/reduced I suspect
BLOODBATH IN THE EVENING THEN? :shocked: OR PERHAPS THE AFTERNOON? OR THE MORNING? OH, FORGET THIS MALARKEY!
THE KILLERS :cool:
THE PUNISHER :dance: MATURE CHEDDAR ADDICT:cool:0 -
bristolleedsfan wrote: »anyway got told today chelsea give period of 3 weeks for people to decide what they are gonna do with their maturity funds and they pay interest at the same rate as the fixed rate for that period so i will be able to organise a monday withdrawal by post. :j
Is this true, i have a bond which matures in March, have i got three weeks at the current rate of 6.69% monthly after the maturity date of the 24th March i think.
Its just i called them up last week, they did not mention this at all?
Wish i took the two year option now, i like the chelsea but their rates are not great?0 -
meatandtwoveg wrote: »Is this true, i have a bond which matures in March, have i got three weeks at the current rate of 6.69% monthly after the maturity date of the 24th March i think.
Its just i called them up last week, they did not mention this at all?
quote]
Thats what I was told at the time I posted the response, My fix expires around the same time as yours. _pale_ I fixed for one year ( 14 months it was at the time ) because I wanted all my savings to be available to me in 2009.0 -
bristolleedsfan wrote: »meatandtwoveg wrote: »Is this true, i have a bond which matures in March, have i got three weeks at the current rate of 6.69% monthly after the maturity date of the 24th March i think.
Its just i called them up last week, they did not mention this at all?
quote]
Thats what I was told at the time I posted the response, My fix expires around the same time as yours. _pale_ I fixed for one year ( 14 months it was at the time ) because I wanted all my savings to be available to me in 2009.
Might be worth re-checking, would not want you to get three weeks interest at next to nothing in an instant access acount?0 -
meatandtwoveg wrote: »bristolleedsfan wrote: »
Might be worth re-checking, would not want you to get three weeks interest at next to nothing in an instant access acount?
Chelsea BS should mailout prior to maturity, they "may" decide to offer a special maturity follow on rate, ( they "may" not do
) a lot can change in two months, I dont plan to contact Chelsea BS at all, I plan to move the funds out on maturity in any event.
As has been shown here with Nationwide BS, two people can ask the same organisation the same question about the same issue and receive two completely different written responses.
http://forums.moneysavingexpert.com/showthread.html?t=1371835&page=30 -
bristolleedsfan wrote: »meatandtwoveg wrote: »
Chelsea BS should mailout prior to maturity, they "may" decide to offer a special maturity follow on rate, ( they "may" not do ) a lot can change in two months, I dont plan to contact Chelsea BS at all, I plan to move the funds out on maturity in any event.
As has been shown here with Nationwide BS, two people can ask the same organisation the same question about the same issue and receive two completely different written responses.
http://forums.moneysavingexpert.com/showthread.html?t=1371835&page=3
I suppose it depends on how much you have in there? If you have 10k, they may offer you nothing or what is on offer to all? If you have 100k in there they may offer you something in between say 3% and 7%?
If you have 500k in there, well they may just say, we will give you what you would have got had you tied it up for another year?
Me like you, i am going to CHAPS it out on the date it matures, £35.00 instant, no loss of what little interest the new building society pay!:mad:0 -
meatandtwoveg wrote: »bristolleedsfan wrote: »
I suppose it depends on how much you have in there? If you have 10k, they may offer you nothing or what is on offer to all? If you have 100k in there they may offer you something in between say 3% and 7%?
If you have 500k in there, well they may just say, we will give you what you would have got had you tied it up for another year?
Me like you, i am going to CHAPS it out on the date it matures, £35.00 instant, no loss of what little interest the new building society pay!:mad:
The conversation about that "three week" thing arose when I made the comment in the branch about Chelsea BS always making sure that fixed rates mature later on in the week so that some people will lose interest over a weekend ( this was before interest started getting paid quicker on cheque receipts), answer came back that their is a 3 week period within which time interest will be paid at the same rate blah blah blah;)0 -
Did anyone else get caught out by this thread? There was I reading about this fantastic new high rate from the Chelsea thinking "that is good" not noticing the date the thread started until page 2!
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bristolleedsfan wrote: »meatandtwoveg wrote: »
The conversation about that "three week" thing arose when I made the comment in the branch about Chelsea BS always making sure that fixed rates mature later on in the week so that some people will lose interest over a weekend ( this was before interest started getting paid quicker on cheque receipts), answer came back that their is a 3 week period within which time interest will be paid at the same rate blah blah blah;)
BTW BLF, you say you are moving your funds from the Chelsea on maturity, well unless they offer you a real teaser rate? May i ask where you would recommend to move funds to in this ultra low yield return enviroment?
Its just 6.9% to 3.3% is a real income drop?:mad:0
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