Bradford + Bingley issue 3 rate dropped again

Saver-Rob

I have just opened mine and will wait and see if its all active in the 24 hours. Hopefully it will and hopefully the Issue 6 will hold a better rate than Issue 3. If you look at their previous rates, in general, newer issues hold the better rates whilst older ones gradually reduce to silly amounts.

Fingers crossed.

evenasus

Being as I never transferred anymore than my initial opening balance of £150.00, as the rate dropped straight after opening. I've decided not to bother opening the Internet Saver 6 at the moment.

So just tranferred this months £3000 savings to Norwich & Peterborough E Saver.
Now have almost the guaranteed amount in that account. It's variable but is still paying 4.30%. This includes a 1.55% bonus till October 2009.

Will have to think again next month.

Saver-Rob

I have initiated my transaction, moving all money bar £1 from my Issue 3 to Issue 6.

pem2

Saver-Rob wrote: »

I have initiated my transaction, moving all money bar £1 from my Issue 3 to Issue 6.

I have transferred all of my 3 into the 6, but noticed afterwards that if you don't keep at least £1000 in for a year, you lose the 1% bonus. Not a big problem but must remember not to transfer all into 7 when they bring that out.

Tibbledom

pem2 wrote: »

I have transferred all of my 3 into the 6, but noticed afterwards that if you don't keep at least £1000 in for a year, you lose the 1% bonus. Not a big problem but must remember not to transfer all into 7 when they bring that out.

No don't think this is right.

Provided you always have a balance of over £1,000 you get the bonus for up to 12 months. You can transfer the whole balance out after (say) 2 months (be careful to transfer accrued interest too) and still get 4.6% per annum (=3.6+1%) for that 2 months assuming the rate doesn't drop.

Shout if I am wrong

pem2

Yes Tibbledom I agree, in re-reading T&C I see you only have to maintain £1000 to get 1% bonus but if it falls below you get 0.10% under £1000

KenC_3

pem2 wrote: »

Yes Tibbledom I agree, in re-reading T&C I see you only have to maintain £1000 to get 1% bonus but if it falls below you get 0.10% under £1000

And if you then redeposit the rate will go back up again. My reading is that the low rate only applies when the balance is below £1k on a day by day basis.

Tibbledom

See https://www.emoneyfacts.co.uk/news/savings-news.aspx

No news on the other accounts

Stavros_3

3.6% in January..............Pathetic

bristolleedsfan

Stavros wrote: »

3.6% in January..............Pathetic

Rate might be even lower in February.