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Bradford & Bingley cuts interest rate
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WaltD
Posts: 127 Forumite
Bradford & Bingley have emailed me to say that the interest rate on their eSavings Account will be reduced from 5.10% gross p.a. to 4.85% gross p.a. from 4th September 2005. These figures are for interest paid annually.
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Good job I finally got my ICICI account up and running. Maybe I will have to take a chance with them after all!0
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Also applies to interest paid monthly :-(0
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Glad I read this today, was going to open an account over the weekend. Won't bother now.
It is getting very frustrating trying to work out my best options. Everytime I home in on what I think is the best account, the rate plummets. It's almost like none of them want to be "best-buys" - as soon as they are at the top of the pile, they slash the rate.
So am I right in thinking that the best accounts are now (ignoring regular savings and accounts no longer open to new business):
1) ICICI 5.4% - in process of opening with £1
2) Northern Rock 5.01% including 6 month bonus
Pretty grim. I have the (closed issue) A&L Online Saver too which isn't looking so bad anymore at 5.0%If I had a pound for every time I didn't play the lottery...0 -
The AA was still paying 5.11% last time I looked.0
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No, I believe this went down to 4.81% from 1/9/05If I had a pound for every time I didn't play the lottery...0
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So it did. Ouch. That 0.3% in addition to the 0.1% they did not long ago. A total drop of 0.4% related to a base rate drop of 0.25%.0
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WaltD wrote:Bradford & Bingley have emailed me to say that the interest rate on their eSavings Account will be reduced from 5.10% gross p.a. to 4.85% gross p.a. from 4th September 2005. These figures are for interest paid annually.
Same here (they emailed me on the 2nd September - pretty short notice, really). This (coupled with the previous rate reduction from 5.25%) has led to me closing my account, and looking for another place to store my money!
(ICICI is in progress, and by the sounds of it I won't hold my breath waiting)0 -
I haven't closed mine ... I just left £1 in it and transferred the remaining balance to Northern Rock for 6 months. After 6 months, I'll see how the B & B interest rate compares with others. If it's any good, I may start using the account again at that stage.Chi wrote:Same here (they emailed me on the 2nd September - pretty short notice, really). This (coupled with the previous rate reduction from 5.25%) has led to me closing my account, and looking for another place to store my money!0 -
I was just reading the savings article and went to B&B website to see what rate they were paying at the moment.
I'm going to have to find a home for the money from my A&L online issue 1 that has dropped down.
I've already got a joint savings acc with my girlfriend with ICICI which took long enough to setup.
Cahoot??
BenI beep for Robins - Beep Beep
& Choo Choo for trains!!0
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