Coventry 50+ esave web rates

vigman

Hi

Coventry BS have just mailed to say they are keeping the current 50+ web saver rates (6.25%) in my case despite the BoE drop!

Very different to ING!

Vigman

Apreciar

vigman wrote: »

Hi

Coventry BS have just mailed to say they are keeping the current 50+ web saver rates (6.25%) in my case despite the BoE drop!

Very different to ING!

Vigman

They have no choice it is a FIXED rate account.

Exo

I think you will find that the Coventry 50 Plus eSave rate is locked for the first year.
Just check the rate after the first anniversary.

Certainly not bad rates though, my 50 Plus eSave (3) is 6.4%AER.

Despite the liquidity shortages, ING, in line with a lot of other banks, no longer appear to want savers money, judging by their low rates.

alanq

Shortly before the end of a year fixed at 6.4% I received a message saying that they would pay 6.25% after the first anniversary. This was the same rate as on offer at the time for people opening new accounts fixed for a year. I have just received a message saying that the interest rate that I get will drop to 6.00%. I now see that the original message I received stated that the 6.25% would be VARIABLE after the first anniversary. I don't know if I could have closed the account at the end of the first year and opened a new one. The Ts&Cs said that one could only have one 50+ account regardless of the Issue Numbers but it was unclear whether this meant simultaneously. It's a bit academic now as the account has been withdrawn completely to new customers.

Note to self: must read messages carefully and not assume what they contain.