Bradford&Bingley

louiegolf

At the beginning of October,2008 I opened the eSavings account with Bradford&Bingley as it was the best recommended giving 6.51% with no strings.It's classed as 'Issue 3'. Suddenly I cannot find it in any of the 'best savings tables'. Does anyone know if the interest rate has been reduced?Appreciate any help. Lou.:rolleyes: :hello:

natman

Aparantley, it has been removed from the market.
I had opened one just in time, but i am betting the rate will go down soon.

Birmingham midshires is probably the better alternative at 6.52% for a british account.

The_Fiddler_2

I don't see the rate in the accounts no longer available list Does anyone know what the current rate is?

evenasus

The_Fiddler wrote: »

I don't see the rate in the accounts no longer available list Does anyone know what the current rate is?

You will find the answers to all questions re Bradford & Bingley Internet Saver 3 on this thread...http://forums.moneysavingexpert.com/showthread.html?p=15341345&highlight=bradford+bingley+internet+saver#post15341345

louiegolf

Dear All,
Thankyou for your replies,fellow threaders!!!Following my question I emailed Bradford and Bingley as I was so worried that the interest rate had gone down.This account (issue 3) has disappeared even though it was recommended as the best easy access savings account 2 weeks ago. I received an email from Bradford&Bingley today - Issue 3 is still earning 6.51%!!!
I will have to keep my eye on it because I'll be astounded if it stays at that rate.
Hope this info helps anyone else as it has been so difficult to find out what the interest rate is.
Thankyou so much for your help you all. :j
Lou

Masomnia

natman wrote: »

Birmingham midshires is probably the better alternative at 6.52% for a british account.

Beware though, as you can't actually earn that rate, as interest is paid into your nominated account.

qfk123

Masomnia wrote: »

Beware though, as you can't actually earn that rate, as interest is paid into your nominated account.

Is that because the Brummy and Midshire's account adds the interest to your linked account- can you not just send the interest straight back into the account once you get it.

The_Fiddler_2

evenasus wrote: »

You will find the answers to all questions re Bradford & Bingley Internet Saver 3 on this thread...http://forums.moneysavingexpert.com/showthread.html?p=15341345&highlight=bradford+bingley+internet+saver#post15341345

Thanks, it would appear to be the same rate at the moment.

d61mts

qfk123 wrote: »

Is that because the Brummy and Midshire's account adds the interest to your linked account- can you not just send the interest straight back into the account once you get it.

I think you could send it back, but the process of waiting for up to 3 working days each way would result in loss of interest for this period, especially if spread over the weekend.

elektra

Masomnia wrote: »

Beware though, as you can't actually earn that rate, as interest is paid into your nominated account.

I overlooked that. Opened one, yet to move money into it.

so the rate is really gross 6.33%. Is that correct ?

Masomnia

elektra wrote: »

so the rate is really gross 6.33%. Is that correct ?

It would work out slightly higher than that, since you can just put the interest back in. I don't know how long that would actually take though. It may be up to 3 working days, but it could be more if it takes time for the interest to appear in the linked account in the first place. You can't get 6.52% though. I'm surprised they're allowed to get away with that!

Whether it makes much difference depends on the amount you have in the account I suppose.