Bank of Scotland Instant Access Savings Account Reward

banana_joe

Hi there,
I have a "Bank of Scotland Instant Access Savings Account Reward" paying 6.5% interest till August 2009:

Bank of Scotland Instant Access Savings
Account Reward
For a limited time only earn a huge 6.50% AER. Open from just £1 and make
4 withdrawals in the 12 month reward period. Open and fund your account
before 10 August 2008.
Minimum opening balance - £1
Maximum balance - £9,999,999
4 withdrawals - in the 12 month reward period
Deposits - allowed up to £10 million in the 12 month reward period
Manage your savings - by telephone, post, optional cash card or online
24/7
Applying is easy - it takes just minutes to apply online. Alternatively, pop
into branch or call us on 08456 02 03 04
Fixed Interest Rate (AER) 6.50%
Term 12 mths
After 12 months, or if your balance is below £1 or above £10 million, or if you
make more than 4 withdrawals during the 12 month reward period, the account
becomes a standard Instant Access Savings Account paying variable interest
rates.

I have 20K in that account. Well, the interest rate will fall further. Just wondering whether
I shall leave my money in that account or withdraw some of it and fix it because in August the interest rate might be even lower. On the other hand, 6.5% is a great rate!
Your opinions are greatly appreciated!

oldfella

leave it where it is until August

rb10

I would personally leave it in the BOS account until August. Even with fixing it now, the rate will be much much lower than the 6.5% you are currently getting, so you would lose out big time over the coming eight months.