Derbyshire regular saver interest rate cut

mary

If you reread, Deemy had 30, I had 20 with Derbyshire.
This is what I do on a kind of rollover basis. When an account matures, the money's recycled either into the same thing like the Halifax or else is reallocated into whatever new regular saver appears at a good rate

6.75% Fix 6,000 Principality Reg Saver May 2006
7% Fixed 1,200 Leeds Monthly Saver October 2006
6% Fixed 3,000 Leek Regular Saver October 2006
10% Fixed 1,500 Bradford & Bingley November 2006
10% Fixed 3,000 Alliance & Leicester January 2007
10% Fixed 3,000 Barclays Easy Saver March 2007
7% Fixed 3,000 Halifax Reg Saver March 2007

Total of £20.7K being recycled. I try to stagger their start throughout the date, but that's not always possible, depending on when a new account comes on line, bearing in mind they do not always stay open for long.

Maybe I'd make more money on the stock market, but am not too conversant with it!

thor

lipidicman wrote:

Ah, strange for a retired account to have such a favourable rate. Normally the rates nosedive.

I think that this is the only case since time began that a bank has put existing customers before their own greed. I remember when I signed up for this account everyone(myself included) at the time cynically thought that Cahoot would reduce the rates to a crappy level as soon as the t&c allowed. They did reduce once but they had also previously increased the rates as well. I must admit that I still can't believe how generous they have been to all of us who have this account and it has put Cahoot in my good books.

Deemy

Marys on the ball, to constantly keep the money recycling on at rates of upto 10%, fed from feeder accounts such as the websaver at 4.5% (via current account), so you roughly earn 7.25% per year instead of 5% with derbyshire... its not that complicated, anyone can do it, if they made the effort, all it takes is standing orders and a simple spreadsheet ! So don't be lazy !

if you plan things then you do have accounts such as Cahoot 5.3% and Coventry 5.25% to fall back upon for large sums on short notice i.e. as happened with derbyshire

anticlaus105

mary wrote:

Just looked on the Cheshire site, can't see anything 8%, what's the name of the account?

Sorry...it was a grab it while you can thing a while back. Fixed at 8%, max dep £500pm.

ReportInvestor

Deemy, you are already using your full allowances at the 7-10% teaser accounts you quoted.

Many other top paying regular savers have low upper monthly savings limits than the Derbyshire (and I bet you're using up all your allowances at those).

It's only your excellent financial management that gives you a 5.3% alternative.

Most Derbyshire savers will probably grin and bear it and as you observe, Derbyshire are awash with cash.

Any feedback from Ms Snell yet?

Deemy

ReportInvestor wrote:

Any feedback from Ms Snell yet?

Ms Snell ?

ReportInvestor

Sophie Snell - Here

Or were you so rude that she won't talk to you . The poor lady has got young children to look after.

Deemy

ReportInvestor wrote:

Sophie Snell - Here

Or were you so rude that she won't talk to you . The poor lady has got young children to look after.

LOL... no Ive not sent an email yet....

Though I will, and it will be polite, and to the point, since with emails, I like to wait a while so as to errrm hmmm get things in perspective... unlike with posting on the boards

I'll probably send an email on saturday.. thanks for reminding me though and I will update you on whether she asks me out on a date or not

.
.
.
.

Though really ReportInvestor it is a stinker of an account now, and you cannot compare it against the likes of even the 4.85% accounts for they are instant access any time as many times as you like, whereas this piece of garbage has strict rules which if broken means the interest rate drops to just 2.3%

It is now a rubbish account ! There, now your getting me all worked up again

mary

So the postman arrived with two fat cheques this morning from the Derbyshire. Have I been given the correct amount? Not too hot on the old sums.

First payment of £2K went in 3rd June, monthly thereafter, account closed on 20 March. Gross interest = 226.42 + 226.28 = 452.70
Tax = 45.28 + 45.25 = 90.53
Net = 362.17

Ted_Bloke

mary wrote:

Cheshire site, can't see anything 8%, what's the name of the account?

anticlaus105 wrote:

Sorry...it was a grab it while you can thing a while back...

...and only the smile remained.


PS suppose you know what I mean, on second thoughts I looked it up, been qite a long time since last read, and the exact text was: it vanished quite slowly, beginning with the end of the tail, and ending with the grin, which remained some time after the rest of it had gone.

_______________________________________________

said the Cat: `we're all mad here. I'm mad. You're mad.'

`How do you know I'm mad?' said Alice.

`You must be,' said the Cat, `or you wouldn't have come here.'