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    • fwor
    • By fwor 12th Oct 16, 12:24 PM
    • 5,729Posts
    • 3,750Thanks
    RCI Bank - second rate drop
    • #1
    • 12th Oct 16, 12:24 PM
    RCI Bank - second rate drop 12th Oct 16 at 12:24 PM
    I guess savings accounts rate drops are not really news these days, but this one seems (to me) a little bit sneaky, because unless I've misunderstood the email, RCI have dropped their rate on the Freedom Savings Account twice in quick succession - perhaps in the hope that people will see the second notification and ignore it? Dunno, perhaps I just have a nasty suspicious mind.

    Anyway, if I've understood it right, the rate goes from 1.44% to 1.2% this month, but it also drops from 1.2% to 1% right now for new customers, and in December for existing customers.

    IMO that rate is nothing special - NS&I have as good a rate on their Income Bond which does not involve investing via what is essentially a foreign bank - so I personally plan to drop them.
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