Whats N/Rock playing at

Stavros_3

I opened at the begining of the week a limited edition e-saver at 6%. Now they are 'launching' another e-saver from the 24th at a reduced 5.75% again limited edition. So does my account remain at 6% or are they being sneaky?. see below

https://www.northernrock.co.uk/savings/

bristolleedsfan

Stavros wrote: »

I opened at the begining of the week a limited edition e-saver at 6%. Now they are 'launching' another e-saver from the 24th at a reduced 5.75% again limited edition. So does my account remain at 6% or are they being sneaky?. see below

https://www.northernrock.co.uk/savings/

Your rate will get reduced to 5.75% on 24th September, I read this morning that deposits have been flooding into NR, so they dont need to try very hard to get the funds. 6% rate has been in force since 16th May.

https://www.northernrock.co.uk/savings/online-accounts/e-saver/rates/

Stavros_3

The B@$%*&£"sS

opinions4u

bristolleedsfan wrote: »

Your rate will get reduced to 5.75% on 24th September, I read this morning that deposits have been flooding into NR, so they dont need to try very hard to get the funds. 6% rate has been in force since 16th May.

https://www.northernrock.co.uk/savings/online-accounts/e-saver/rates/

The fact that the government backs Northern Rock, offering an effective 100% guarantee against a £35k protection elsewhere, distorts the savings account market and makes NR a popular choice when it may not have been otherwise.

This in itself could destabilise other banks.

The powers that be should look at this.

Stavros_3

All aboard
http://www.thisismoney.co.uk/news/article.html?in_article_id=452406&in_page_id=2&ct=5

bristolleedsfan

opinions4u wrote: »

The fact that the government backs Northern Rock, offering an effective 100% guarantee against a £35k protection elsewhere, distorts the savings account market and makes NR a popular choice when it may not have been otherwise.

This in itself could destabilise other banks.

The powers that be should look at this.

I know and I believe that the O/P was aware of that as well, it has been said many times so I didnt bother taking up webspace saying it again.

LongTermLurker

As they're 100% backed by the govt, they are generally seen as "safer", so as blf says, they don't have to pay as much in return for deposits.

edit - ah, o4u beat me to it - that's what comes of opening loads of tabs and then working through non-uup-to-date threads

ad44downey

Stavros wrote: »

The B@$%*&£"sS

You should have kept it in HBOS

Stavros_3

I never was in HBOS, I have removed all but 35k out of B & B because of the continued uncertainty. Its a bloody shame co's its one of the best internet accounts about that suited my personal circumstances. Now I've dumped a load in the N/R those naughty people are reducing their rates now that they are grabbing the savings market, the greedy B"£$%%$S

opinions4u

bristolleedsfan wrote: »

I know and I believe that the O/P was aware of that as well, it has been said many times so I didnt bother taking up webspace saying it again.

So glad to be able to put your comments in to context for those who weren't though!:D

casper_uk

http://www.express.co.uk/money/view/62494/Rock-to-default-on-bond-interest-

Typical