kaupthingedge - new lower rate?....

john_s_2

Well, thanks for bailing out Iceland. And for your relaxed attitude to marijuana. But I've just noticed that Sainsbury's, from whom I transferred my savings a few months ago, now offer 5%, just dropped from 5.5%. And as I still have a few pounds in there it's a no brainer. FSCS protected as well. http://www.sainsburysbank.co.uk/savings/sav_previousrates_is_dive.shtml That'll do till the dust settles.

Edit: Oops! Sainsbury's dropped their rate to 5% from 18/10/2008 (so haven't factored in Thursday's drop yet). Note to self - don't do finances after four pints. Still, I wasn't happy with ING's non-FSCS status so this was the kick I needed.

steveOooo

bjorn_again wrote: »

Sorry, but did you miss the BoE announcement yesterday? The Bank Rate was slashed by a massive 1.5%. Did you honnestly expect that this would not affect savings rates. If you can find any account that now offers 6.55%, instant access, please tell me because I will move my money to that account.

aa (HBOS) do 6.25% instant access saving account.

I was unaware of the base rate lowering before i checked my balance this am. So i guess the rate may fluctuate some more, hopefully back where it originally was. Is there anychance the base rate will be back to normal?

bjorn_again

hollyhocks wrote: »

is it safe to transfer some of my money in Kaupthing Edge to their fixed rate bond for 12 months as the interest rate is really good if they haven't dropped it yet. Would welcome your opinions.

I don't think you'll find that you still have the option.

bjorn_again

steveOooo wrote: »

aa (HBOS) do 6.25% instant access saving account.

I was unaware of the base rate lowering before i checked my balance this am. So i guess the rate may fluctuate some more, hopefully back where it originally was. Is there anychance the base rate will be back to normal?

Depends on what you call normal. The way I see it is that savers are going to feel the pinch for some time to come. Any institution that offers even half a percent more than the "normal" will steal the trade in the coming months. I personally don't expect to see very much variation in what will be offered. This is a time for consolidation and purely from a personal perspectiveI shall be hapy not to see any more Banks go to the wall. Having been wooed by Icesave and Kaupthing by their tarty rates and then having suffered the consequences I am happy to sit back and let the dust settle on "safe" rates of +/- 4.5%

EalingSaver

jamieslucky7 wrote: »

As did I, the day before it was closed so I am well chuffed. Could have done with an email from ING though.

I opened an Egg account back in June. I have it recorded in my notes as 6.3%, inclusive of a 1.55% bonus for first twelve months. I hadn't realised however, or have forgotten, that the underlying rate was guaranteed for 12 months.

Also as with so many flaming banks, it seems to be difficult to see what rate is currently applied to the account. I really wish it was compulsory to put up on your account page "current interset rate applied to this account" or some such.

Short of phonin them, anyone any idea how I check? [The historical interes rates button doesn't seem to include this account - or at least I hope it isn't...]

natman

Hi.

The interest rate decrease has been a sad day for savers in my opinion. Once again i feel i am on the merry go round of trying to search for a decent return on my savings.

Products being pulled al over the place.
I was going to keep my two sums of cash in ING/Kaupthing as like you guys I was earning in the region of 6.5% but now that has gone down to the menial - 4.55% So I am taking my £3k out of there.
In addition i was going to pull my fix term bond money out earning a lovely 7.15% but I am keeping it there..Might as well get all i can from ING.

I am dissapointed that no email or correspondance highlighting the interest rate cut from KE/ING.

Baldur

EalingSaver wrote: »

Short of phonin them, anyone any idea how I check? [The historical interes rates button doesn't seem to include this account - or at least I hope it isn't...]

From the Homepage>Banking>Savings>View Interest Rates:

Egg Savings Account (Internet) introductory rate (8 May 2008 - 10 October 2008) 6.30% gross pa/AER fixed for 12 months

EalingSaver

Baldur wrote: »

From the Homepage>Banking>Savings>View Interest Rates:

Cool - thanks.