Yorkshire BS interest rates down

twizzel

I see YBS has reduced the interest rates for e-ISA and Internet Saver accounts. Effective 29/3/09.

ctdctd

But the Regular Saver issue 1 is still paying 3.75% for those that still have one.

Sisyphean_Task

Not very good at maths are they?

Monthly interest on their Internet Saver was cut from 2.72% to 2.08% so a drop of 0.64% due to a 0.5% base rate cut!!

That's my money out of there on principle.

barny_100

To be fair I think in the past they had dropped rates by less than the BoE rate cut so swings and roundabouts?

I'm transferring my e-ISA to Natwest after April 6th anyway. Shame as rates were good (in relative terms) until last couple of cuts. Website reliability and customer service get thumbs up as well. Happily go back in future if their rates improve.

adambro

Sisyphean_Task wrote: »

Not very good at maths are they?

Monthly interest on their Internet Saver was cut from 2.72% to 2.08% so a drop of 0.64% due to a 0.5% base rate cut!!

That's my money out of there on principle.

Have they passed on every rate cut and the full amount each time?

• On 08 October the BoE reduced the base rate by 0.5%, YBS partially passed on the cut on 02 November and reduced the rate by 0.20% to 5.50% AER.

• On 06 November the BoE reduced the base rate by 1.5%, YBS partially passed on the cut on 30 November and reduced the rate by 1% to 4.5% AER.

• On 04 December the BoE reduced the base rate by 1%, YBS partially passed on the cut on 28 December and reduced the rate by 0.75% to 3.75% AER.

• On 08 January the BoE reduced the base rate by 0.5%, YBS passed on the cut on 01 February and reduced the rate by 0.5% to 3.25% AER.

• On 05 February the BoE reduced the base rate by 0.5%, YBS passed on the cut on 22 February and reduced the rate by 0.5% to 2.75% AER.

• Most recently, on 05 March the BoE reduced the base rate by 0.5% to 0.5%, YBS reduced the rate by 0.65% on 29 March.

So, in hindsight, perhaps you might wish to revise your principled stance. YBS have in all cases significantly delayed passing on the cut and on a number of occasions haven't passed on the full cut. Their most recent rate change is 0.15% greater than the base rate but if you take into account the previous occasions, YBS have actually not passed on the full rate cuts so I find it bizarre that suddenly they are evil because of 0.15%.

^!£$&

I too am in the process of transferring my YBS isa to the Natwest E-Isa.
Its a much better rate & I already have a current account with Natwest so its been super easy to set up & transfer!!!
Having said that I too was very pleased with YBS and would use in future providing they offer competitive products!

Wolf_Man

My YBS account is showing the rate at 2.10% that an esaver account.

savetilibleed

snowbrow wrote: »

I too am in the process of transferring my YBS isa to the Natwest E-Isa.
Its a much better rate & I already have a current account with Natwest so its been super easy to set up & transfer!!!
Having said that I too was very pleased with YBS and would use in future providing they offer competitive products!

I'm transferring away too. I'm really disappointed with YBS now. Pity, I like the way they operate in general. Maybe their coffers are full and don't need more money in. Is that possible - saving is reportedly up in these times.