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Will B&B/Natwest/Tesco drop their rate?

ian-d
ian-d Posts: 371 Forumite
in Savings & investments
Currently Bradford & Bingley, Natwest and Tesco's all offer high interest rates on 'clean' accounts, well above 6% gross.

I'm tempted to sign up with one or two because my rates elsewhere have dropped, but the question is, are these deals likely to be sweeteners to get customers money in, and then drop the rate soon? Does anyone have any inside info on expected rate drops?

Comments

  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    My magic 8-ball says "Outlook not so good", if that helps.
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • isofa
    isofa Posts: 6,091 Forumite
    I'm sure sure any of these accounts are technically "clean", all having high rates via bonuses.

    Tesco's Internet Saver at 6.5% is an account with a one year 1.5% bonus rate, which kicks in for the first 12 months the account has been opened.

    Natwest's eSaver isn't clean either, 6.5%, but including 2.09% bonus for 12 months.

    The B+Bs eSaver account rate has just been dropped to 6.10% for 12 months, again with a 1% bonus for the first 12 months.

    PS Tesco are also taking an age to open accounts, various discussion threads on this, no idea about the others!
  • Innys
    Innys Posts: 1,881 Forumite
    While we are on this topic, does anyone know if you have to have the accounts open for the full 12 months to qualify for the bonus?

    So, if the bonus is say, 2% and you have the account open for only 6 months, do you get, effectively, a 1% annualised bonus?

    Thanks very much

    I
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    I've just noticed that Halifax has taken its 6 month '7%' rate off the table (which was still available last night when I checked - as I was waiting to until this morning for my funds to clear) They've still got the 3 months at 7%, so I'll go for that....
    .....under construction.... COVID is a [discontinued] scam
  • Baldur
    Baldur Posts: 6,565 Forumite
    Milarky wrote: »
    I've just noticed that Halifax has taken its 6 month '7%' rate off the table (which was still available last night when I checked - as I was waiting to until this morning for my funds to clear) They've still got the 3 months at 7%, so I'll go for that....
    Halifax new rates https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=176881
  • Blah99
    Blah99 Posts: 486 Forumite
    nzseries1 wrote: »
    My magic 8-ball says "Outlook not so good", if that helps.

    Sure, but Microsoft shipped it as part of Office anyway.... ;)
    Mmmm, credit crunch. Tasty.
  • Stavros_3
    Stavros_3 Posts: 1,288 Forumite
    Cash is history. interest rates will hit 2% next summer IMHO and those of financial experts. Savings rates will plummet during the next 9 months.
    Liquidity is when you look at your investment portfolio and **** your pants
  • nomorekids
    nomorekids Posts: 475 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Milarky wrote: »
    I've just noticed that Halifax has taken its 6 month '7%' rate off the table (which was still available last night when I checked - as I was waiting to until this morning for my funds to clear) They've still got the 3 months at 7%, so I'll go for that....

    oh my, one of the lucky ones for a change. I got this opened yesterday, just in time. :T
    If you want to be rich, never, ever have kids ;)
  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    Blah99 wrote: »
    Sure, but Microsoft shipped it as part of Office anyway.... ;)

    Ah I get that now !!!! Only took me six days :o
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
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