We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
britannia regular saver 7.5%
s71hj
Posts: 1,243
Forumite
Anyone know anything about this? Only thing I've seen is the following, cut and pasted from latest headlines / breaking news type section on moneyfacts website (http://www.moneyfacts.co.uk/savings/bestbuys/savings_regular.aspx)
"RATE ALERT:Britannia BS launches 7.5% fixed rate regular saver, a best buy"
"RATE ALERT:Britannia BS launches 7.5% fixed rate regular saver, a best buy"
0
Comments
-
-
Does not state a maximum (assume £250?) per month and there is nothing yet on Britannia's website. Tomorrow will reveal more information I imagine:
Latest News.....under construction.... COVID is a [discontinued] scam0 -
2014 running challenge 587.4 miles / 250 miles0
-
-
there is a condition which transfers the cash to a 1 year fix at 3.25% if you dont move the money on maturity - I hate terms like that !
12. At the end of the Fixed Term ........... Following this one month period your account will be automatically transferred into the Members’ 1 Year Bond (or equivalent, unless you advise us otherwise).
Mike0 -
The paying in method for months 2-12 is by direct debit - so there would be no lost days interest there. But this also implies that Britannia choses the same date as the opening payment - and thus there would be no tweaking possible (monthly payments brought forward by opening at the end of the month) That would be consistent with their giving their own estimate of gross interest (£122.26) when paying in the maximum amount......under construction.... COVID is a [discontinued] scam0
-
Don't forget that loyal Britannia members such as myself will also qualify for an approximate additional 0.44% in the Members' Reward Scheme. That makes 7.94%
. Less long term members should qualify for 0.36% [five years] & 0.22% [2 years] extra.
When was Britannia last in the best buy tables for savers? I can't remember :eek: . They have been continuously in the best buy tables for new mortgage products for five years - which is not necessarily in members' best interests [as opposed to directors' interests].
I put it down to a) they raise more money in the wholesale market than any other BS b) they bought Bristol & West Savings so they didn't have to raise new money in the retail market and c) the Member Reward Scheme means they have to pay out more on top of any top rate.
I wonder why this welcome change ?
The downside is that those pesky carpetbaggers probably also qualify for the full extra and so stand to pick up an early windfall
.
BUT there is a twist
You need at least 25 points to get get anything. Each £100 invested earns 1 point for 2 year members so you would need £2,500 to qualify (£1,250 for 10 year members).
That will be counted on December 31st 2007 so you would need to keep your investment with Britannia after the end of the 12 month qualifying period.
How clever of them. 0 -
Personally, I'm waiting for them to do the decent thing and demutualise. My £100 bet is going to pay off sooner or later...0
-
"The downside is that those pesky carpetbaggers probably also qualify for the full extra and so stand to pick up an early windfall"
Does anyones name readily spring to mind ? (Why isn't there a tongue in cheek icon on here ?)0 -
Surely you're not going to forego this excellent offer in the meantime, LE?LizEstelle wrote:Personally, I'm waiting for them to do the decent thing and demutualise. My £100 bet is going to pay off sooner or later...
Why deprive yourself?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards