Brittannia regular saver query.

kanchhelskis

Hi guys and lasses does anybody know if there will be another 1 year fixed rate from brittannia? i had 2 of these in the past both at 7.5%?

thanks in advance.

altocumulus

why not ask britannia?

Old_Slaphead

FWIW I reckon that there will be a new RS but I'd be surprised (but pleased) if it paid 7.5%. As a possible alternative Principality are offering 7% with flexible varying monthly deposits allowed.

Speculator

I reckon it will be 6.5% Fixed.

My issue 2 regular is maturing next week and no maturity letter from Britannia yet. I will probably receive it a day after maturity, like last year.

Milarky

Britannia will send out information on follow up accounts and maturity instructions like they did last year. Hopefully the redemptions will be smoother. They can BACS you your money if you request this.

They may have a follow up regular saver - we shall soon see.

apt

I don't think 6.5% would serve much purpose as it would attract little business with at least 7% fixed available elsewhere. The Membership Reward was also reduced last year and may well be cut again, so that won't be much of an attraction either. The possible merger with the Co-Op might influence whether they decide to run the saver again this year.

steady__eddie

I received a letter from them yesterday, no mention is made in it of a follow up regsave.
They are pushing a range of new Guaranteed Capital Bonds that are linked to the performance of the FTSE 100 Index. In addition to the now obligatory free, no obligation review at my local branch, there are 1 and 2 year Members' Fixed Rate Bonds. Unfortunately, due to the present changeable market, it is impossible to confirm an exact rate now but a minimum interest rate of 6.1% Gross (annual interest) or 5.85% Gross (monthly interest) is quoted. "If there is a market opportunity to increase these rates, for all Bonds maturing in November 2008, we will do so. We recommend that you visit your local branch or call our helpline on 0808 156 7796 to confirm our latest rates."
Minimum opening balance is £500, no withdrawls.

Thanks but no thanks.

Speculator

Any mention about withdrawing by bacs (free of charge) or is it cheques only like last year.

Milarky

Speculator wrote: »

Any mention about withdrawing by bacs (free of charge) or is it cheques only like last year.

I was assured they did do BACS - and had asked for this - but because of the horlicks they made with (inexplicable) delays of several weeks - and a lot of unhappy customers - they eventually CHAPS'ed my money (the only CHAPS payment I've had!) and later paid £20 compo for loss of interest! [My brother was luckier still - he got the cheque in the post but they offered him £50 compo]

Speculator

Thanks for the warning. I think I'll visit the nearest branch and withdraw £500 cash and the rest by cheque.

Old_Slaphead

Can open their Direct Saver online account (int about 4.5%) - pay money into that then return to your nominated account (leaving £100 in in case of future merger payouy)