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ING Direct web saver bonus

lpgm
lpgm Posts: 359 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Savings & investments
Just noticed the following in my web saver account:

Bonus interest rate of 6.41 % on balances over £ 10.00 until 02-Mar-2009cleardot.gifcleardot.gif
Current variable interest rate of 4.89 % on balances up to and including £ 10.00

Think they've just launched this, probably because their 6.25% savings account promotion ended yesterday (still waiting for the interest from that one) and they don't want to see an exodus of funds.

(I know better rates are available, but for those of us observing the £35k rule, it's useful.)
«1

Comments

  • a4alan
    a4alan Posts: 9 Forumite
    Part of the Furniture First Post
    Mine doesn't say "over £10", it says "over (the figure that's my current balance)". So it looks like the bonus rate of 6.41% applies to anything added over your current balance, i.e. only to new money. Which is fine if you want to move some in there, but not good enough to make you keep money there at the poor rate of 4.89%
  • meanmachine_2
    meanmachine_2 Posts: 2,624 Forumite
    Part of the Furniture Combo Breaker
    If I'd known that was coming I'd have cleared everything from my account yesterday, then moved it back in today!

    Sneaky lot. Does that mean they've just CUT the basic rate on the account from 5% to 4.89%?

    They've clearly been learning tricks from this government....
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    It's paid at the rate of 6.41'gross'/6.6AER

    This is an account no longer available.... I have 4p in mine!

    But it still takes 2 days at least to remove the money doesn't it

    Vs any account paying over 6% not requiring notice that's 20 days..
    .....under construction.... COVID is a [discontinued] scam
  • littlemissmoney
    littlemissmoney Posts: 1,219 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    [FONT=Verdana, Arial, Helvetica, sans-serif]I just had this email....[/FONT]
    [FONT=Verdana, Arial, Helvetica, sans-serif][/FONT]
    [FONT=Verdana, Arial, Helvetica, sans-serif]A great rate of 6.6% AER
    [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Enjoy 6.6% AER on any additional savings you pay into your Web Saver between 2 September 2008 and 2 March 2009 (inclusive).[/FONT]
    [FONT=Verdana, Arial, Helvetica, sans-serif]This means that any savings you put into your Web Saver over the amount you held on 2 September 2008, will earn the bonus rate until 2 March 2009.[/FONT]
    [FONT=Verdana, Arial, Helvetica, sans-serif]Meanwhile, your existing savings will continue to enjoy a rate of 5.00% AER (variable). [/FONT]
    :p Proud to be a MoneySaver! :p
  • mary
    mary Posts: 1,585 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Snap, just got this email. Are you penalized if you withdraw any money during that time, i.e. does it have to be locked away?
  • littlemissmoney
    littlemissmoney Posts: 1,219 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    mary wrote: »
    Snap, just got this email. Are you penalized if you withdraw any money during that time, i.e. does it have to be locked away?

    Nope :) My account was at £0 so I'm just moving my money over now... :D
    :p Proud to be a MoneySaver! :p
  • planemad
    planemad Posts: 569 Forumite
    Part of the Furniture Combo Breaker
    Looks like they are after some liquid at the moment.
  • littlemissmoney
    littlemissmoney Posts: 1,219 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    They sent me chocs this morning too to advertise this offer!!! Yum Yum.
    :p Proud to be a MoneySaver! :p
  • edda
    edda Posts: 1,057 Forumite
    500 Posts
    littlemissmoney wrote: »
    They sent me chocs this morning too to advertise this offer!!! Yum Yum.

    That's the little surprise mentioned in the email.

    As I don't like chocolate, wonder how much I could get for them on ebay? After all, ING aren't overly generous with their saving rates so maybe they will be worth some rarity value. :rotfl:
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    ING have got a deservedly bad name for constantly messing people about with interest rates. They have zero credibility, they won't be getting my money.
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
This discussion has been closed.
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