West Bromwich

toom

I feel like I'm missing something here. Can anyone help?

The West Bromwich building society offers a 1 year fixed term bond at 4.65% AER. I'm thinking of doing it, but I'm suspicious about how they can offer a rate so much higher than equivalent rates at most other institutions. Is there a catch?

LloydsTSB, for example, where I have my current account, offers only 2.25% AER for a 1-year fixed term deposit.

So why the difference? I don't understand why anyone would open a Lloyds deposit when it is less than half that offered by West Bromwich.

Also, do people feel West Bromwich (and building societies generally) is fairly safe?

Any advice in these uncertain times much appreciated!

10_66

See HERE.

Milarky

Will be withdrawn Friday

Froglet

I applied for this account but knowing i would not have the funds until next Tuesday i have been waiting to post it off.Meanwhile i had just before that also applied for the chelsea fixed bond at 4.40%.That one is now closed but they will accept funds up to the 21st.

What finally put me off sending to the west brom one anyway is that they state in the confirmation email that if your application is not received before they close the offer,it will be returned to you.I could not therefore take the risk of it not arriving and being dealt with before the bond closed,and at the good rate it was likely to be fairly quick!!

For the sake of a few pounds difference it was worth sticking with the Chelsea.