Slightly confused re Barclays Fixed Monthly Saver

fullstop

Mazzer2 wrote: »

Just set up with barclays on the phone a regular saver at 6 percent. I am already a long standing customer (yeah I know lazy...) Read on this website about them honouring 7.75 per cent til end of year and rang back to query the interest rate was told it only applied to accounts opened until end November. So, not very clear? Different advice for different people....

Mazzer, You should have asked the Barclays staff to have a look at their website which is quoting 6.00% and at least get them to honour that rate.

Mazzer2

Thanks fullstop but I am at least getting the 6%. Well, that's what they said.....;) we'll see ... intalex may be right.

Also found out today my Barclays 07/08 tax beater ISA, which was a good deal when I got it, is down to 2.31%. Oof! My 08/09 tax haven ISA, which was lauded originally for good interest rates (although there were bad delays in setting up accounts) is now down to 4.6%. I think I'm off to Loughborough with my 07/08 ISA pot for 4.4% unless you all have any better suggestions. Should have done all this 2 months ago but no time....

lkmc01

well I've been on an instant chat with one of their staff, was offered this when going onto their web site. The guy said 'Yes, you have to open a current account before opening the savings account.'

The documents you have to take in are on http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=popup1group&value=7551&target=_blank&site=pfs

and its is now 6% which is still one of the leading rates

The only problem I'm having now is that I don't pay gas, water, electricity, council tax, a mortgage or council tax, or have a landline.

So the documents I can take in are very limited.

I will take a passport in for my name, but for address from the following list

To confirm where you live, we need one of the following:

• UK driving licence with current address: Paper version - full licence only. Photocard version - full and provisional. (Cannot be used if it has already been used for ID).
• European Union member state identity card (if not used as ID).
• UK bank statement - no older than three months (Internet statements are not acceptable).
• UK credit card statement - no older than three months (Internet statements are not acceptable).
• UK mortgage statement - no older than 12 months (Internet statements are not acceptable).
• Foreign bank statement.
• Gas, water, electric, cable TV or landline phone bill (less than three months old). Mobile phone bills are not acceptable.
• Local authority council tax bill (current financial year).
• Council rent book (must be current).
• Household or motor insurance certificate (no older than 12 months).

I can only take in a UK bank statement or a household insurance 'letter' which has my name and address on.
Problem is my flat was renumbered from 5d to 5e in September 2007 and I've never got all the statement addresses updated, its the same flat though. I do have a letter stating the change from a Univeristy.

Do you think the letter from the Uni stating the change which is dated Sep 2007, signed and stating that the flat number will change from 5d to 5e and the bank statement with flat 5d on it will be enough??

fullstop

I opened one in November with no current account with Barclays, no problem

anna42hmr

fullstop wrote: »

I opened one in November with no current account with Barclays, no problem

same here, i opened it when it was the 7.?% and never had to open any other accounts with it

ShelleyC_2

anna42hmr wrote: »

same here, i opened it when it was the 7.?% and never had to open any other accounts with it

I also opened one with no current account :T

hardpressed

6% fixed for 1yr sounds good. So if I save the max £250 each month how much interest would I earn over the year? I've tried to work it out but the old grey matter is confused!

hardpressed

I've just found Martin's calculator so have answered my own question. I think it works out at £77.44 interest on £3000 after 1 yr. That's depositing £250 per month.

Joe65_2

That makes £97.50 (£78 after Basic RateTax) after 12 months.Which would be about the same as getting just 3.25 % on the whole £3,000 for a year.Notwithstanding the Easy Access, Penalty free, & Fixed Rate , of this one, these Regular Savings accounts seduce you with a High Headline rate and are usually a lot of work for a small return (equivalent to ~ 1/2 the Headline rate)

fullstop

hardpressed wrote: »

6% fixed for 1yr sounds good. So if I save the max £250 each month how much interest would I earn over the year? I've tried to work it out but the old grey matter is confused!

Hardpressed : If you scroll down the Barclays website on the Monthly Fixed Rate page (right at the bottom, easy to miss) you will find that you will receive approximately £124.00 gross interest over the year.