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Scarborough BS MySavings account rate increased to 6.25%

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Scarborough BS will increase the rate on their MySavings regular saver account (& ISA) by the full 0.25%, from 6.00% to 6.25%, effective from the 1st December 2006.

The new rate now appears on the Moneyfacts website, here.
Please call me 'Kazza'.

Comments

  • surely yorkshire building society will have to increase their rate now to 6.75%?
  • Kazza242
    Kazza242 Posts: 2,198 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    surely yorkshire building society will have to increase their rate now to 6.75%?

    I hope so. YBS have yet to announce their savings rate increases, following the BOE base rate increase to 5.00% earlier this month.
    Please call me 'Kazza'.
  • Stonk
    Stonk Posts: 937 Forumite
    Now there's a nice surprise! Although it's a variable rate account, I always considered it was a de facto fixed rate. I was quite happy earning 6% on what can turn into quite a sizeable pot over a period of time (because there is no sweep-out).

    Well done Scarborough.
  • Kazza242
    Kazza242 Posts: 2,198 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Sidenote. Derbyshire BS have increased their 1 year regular savings bond by the full 0.25%, from 5.50% to 5.75%. The min monthly deposit is £10 and max £1,000. maximum account balance £12,000. Details here

    Derbyshire have also raised the rate of their ongoing regular savings account from 5.00% to 5.25%, despite not raising their rates after the August base rate rise. Details here.
    Please call me 'Kazza'.
  • Kazza242
    Kazza242 Posts: 2,198 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Monmouthshire BS will raise their regular saver rate from 5.55% to 6.00% w.e.f. 1 Dec 2006). The account is called Saver Plus and is ongoing up to a maximum account balance of £500,000. Min monthly deposit £20, max deposit £1,000. All monthly payments by direct debit only.

    Here is the thread.
    Please call me 'Kazza'.
  • Well, according to my savings spreadsheet, the Scarborough did not increase the rate on the My Savings Regular Saver at all when we had last quarter percent interest hike in August 2006.

    They probably felt they had to do something this time, given the number of other Regular Savers that have come to the market since (eg Yorkshire RS).

    But I'm not churlish, I like regular savers, particularly the ones that you can keep going beyond a year. It's a good way to make you save when you might not otherwise bother moving small sums of money from your current account.

    So, well done Scarboro'! Here's to saving! :beer:
    "Success is the ability to go from failure to failure without losing your enthusiasm" (Sir Winston Churchill)
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