scarborough building society mysavings

shazkhan111

I opened a scarborough bs mysavings account a few years ago, when it was paying 6.5%, i can't seem to find the interest rate for this account. I know that they have merged with skipton, but you would have thought that they would display the rates online.

Help please?

Hazzanet

Not in this list is it?:

http://www.skipton.co.uk/savings_and_investments/investment_rates/scarboroughAccounts.aspx?utm_source=homepageScarborough&utm_medium=banner&utm_campaign=scarboroughInvestmentsDirect

baby_boomer

If it is the same fixed rate Options 3 Bond I have then you are still getting 6.5%.

I shall close it when the fixed rate term comes to an end.

Here's a link to the page for ex-Scabbyborough accounts at 4 April 2009

Skipton should have let the government do its own dirty work in rescuing Scarborough savers, but the Chairman of the BSA at the time was former Skipton boss who may have twisted his previous subordinate's arm.

margaretclare

Have you tried looking on Skipton's website?

http://www.skipton.co.uk/savings_and_investments/savings_accounts/

The interest will definitely not be 6.5% now - you'll be lucky if it's 2%.

HTH

Hazzanet

(1162 & 1163) My Savings Branch & Direct (Annual)

Amount Gross pa % AER% Net pa% Previous Gross pa / AER %
£10 - £18,000 3.00% 3.00% 2.40% 3.00%

Speculator

The rate will be dropping to 2.5% from 3rd September 2010. Does anyone know if it allows penalty free withdrawals? I've lost the T&Cs for this account.

premierfella

The booklet I have indicates that:
- One withdrawal is permitted from the account per anniversary year;
- Minimum balance of £10 required to keep the account open.
It also states that more withdrawals are permitted but refers on for details to a "Your Interest Rates" flyer that I have long since binned (but I would guess that further withdrawals would take the interest rate down to the 0.1% rate - maybe someone with the leaflet could confirm).

I will probably keep mine open for the time being as a Skipton membership account and have another look at it if the interest rate falls again in the future.