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Cheshire BS regular saver 8% Gross
FTD
Posts: 137 Forumite
Just got some bumf through the post (that I asked for) from the cheshire, and the new rates card was included.
Doesn't mention this on the website but in the card, the regular saver (3rd issue) reckons it's gonna pay 8% gross, 6.4% net available from 5th September!!!
it just lists a balance of £25 getting this rate - it doesn't list min and max monthly deposits (it'll probably be max £250 like the current 2nd issue)
seems a bargain !!!
Doesn't mention this on the website but in the card, the regular saver (3rd issue) reckons it's gonna pay 8% gross, 6.4% net available from 5th September!!!
it just lists a balance of £25 getting this rate - it doesn't list min and max monthly deposits (it'll probably be max £250 like the current 2nd issue)
seems a bargain !!!
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Comments
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Thanks for that 'FTD'.
Looking for somethinng just like that . . . . gonna check it out !
TD0 -
Just rang 'em...
Min £25 max £500 a month, no withdrawals allowed for 12 months or the rate drops, the account is closed after 12 months and the cash is transferred to an easy saver.
FTD0 -
Sounds great, but if they dont have anything online does that mean you cant apply unless in person, or is it going on line on the release date?0
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lush_walrus wrote:Sounds great, but if they dont have anything online does that mean you cant apply unless in person, or is it going on line on the release date?
Cheshire don't have much in the way of 'on-line', either ring em and they will send out an application form or go into the branch for a form (there may be a way to apply on-line I haven't checked) then simply setup a standing order to pay in.0 -
Thanks for this. My Cahoot 5.3% will now drip feed, Halifax, Dudley & Cheshire Building society Regular Saving Accounts, all paying at least 7% gross.
As I don't live in a branch area, they are giving me a call back on Monday to set up the account.
As another person has suggested, they have confirmed that all payments to the account need to be arranged via standing order.
Cheers again
draker0 -
Great, is this fixed or variable0
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This account sounds good, but they do not allow you to put a lump sum in as a deposit. The maximum you can initially lodge is £500.0
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EDIT 16/09/05: It is no longer here! [old url has been removed!] Looks like it is no longer available...FTD wrote:Just got some bumf through the post (that I asked for) from the cheshire, and the new rates card was included.
Doesn't mention this on the website but in the card, the regular saver (3rd issue) reckons it's gonna pay 8% gross, 6.4% net available from 5th September!!!
it just lists a balance of £25 getting this rate - it doesn't list min and max monthly deposits (it'll probably be max £250 like the current 2nd issue)
seems a bargain !!!
Note the features of the previous Issue [no. 2] - up to 5.3% interest and £250 per month accepted - as well as the other payng-in issues. It does look promising if it is based on these conditions also.
When it matures in 12 months I wonder what the fourth issue will offer?.....under construction.... COVID is a [discontinued] scam0 -
Seems to me RS 2 is an ongoing animal (variable) int is paid Dec 31st following anniversary year, so 16mth from now 1st int paid then every 12mth.
From above posting looks to be like a 1yr bond type aka Dudley/Principality offerings.
Those where Fixed rate!0 -
some more details:
interest rate is fixed at 8% gross
no monthly payment must be missed
monthly payments can vary between £25-500
has to be paid by standing order
can be arranged through the post
After the 12 months, the money will bemoved to an "easy saver" a/c, where it will have to stay for 60 days.
Today, the "easy saver" would yield 3.15% gross for £6384 (interest rate depends on amount in easy saver a/c).
That means the money is locked away for 14 months; the average yield during these 14 months is 7.3% gross. Still an excellent rate.Dagobert0
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