Aldermore fixed term bonds

Primrose

I read in yesterday's Sunday imes Money Section that Aldermore, the first British bank to be wholly owned by a private equity firm are offering some of the best four and five year fixed rate savings bonds at 5.15% & 5.40% respectively, and one, two and three years bonds at 3.49%, 4.21% and 4.51%.
I've never heard of them. Has anybody on here dealt with them and are they efficient? Do they have an online savings facility? I assume that any money invested with them will be covered in the usual way up to the £50K compensation limit.

mr_fishbulb

Yup same 50K cover - http://www.aldermore.co.uk/about.aspx

I have my ISA with them (well I opened my ISA when it was Ruffler). Postal replies are very prompt. Seem courteous on the phone.

My ISA is not online, but it looks like the have an online option for savings.

brewerdave

Think they were known previously as Ruffler Bank??

balaclava

brewerdave wrote: »

Think they were known previously as Ruffler Bank??

Ruffler - not a good name for a bank, Aldermore sounds much better

Hungerdunger

More info about the company here.

Jonbvn

When they were Ruffler Bank, they were excellent to deal with (for our ISA's).

Tried contacting them recently, and my experience has been less positive.

You are covered by the FSCS up to £50k.

denniscuddles

At the start of this year Ruffler Bank's excellent ISA interest rate attracted so many ex-Icesave customers that they stopped accepting new ISA requests in order to deal with the flood of transfers from Icesave. Since then, the ISA rate has dropped to 3.15%. Although this rate is being maintained for Ruffler ISAs the rate being offered to new Aldermore customers is lower, at 2.56%. Customers with new Aldermore accounts can, however, manage their accounts online, unlike Ruffler customers, who have to rely on the post.
Ruffler Bank's customer service was excellent - I received a free umbrella after transferring my account and e-mail and phone enquiries were dealt with promptly. Following the Aldermore take-over I was disappointed that e-mail enquiries I made about the Aldermore/Ruffler rate differential were ignored, though I did get an instant response when I asked the same questions over the phone.
I suspect that Ruffler interest rates will eventually be brought in line with new Aldermore accounts so I let the service desk know that I am likely to move my ISA to another provider if this happens.

withnell

From the look of the application system etc, I think the savings business is now outsourced to Newcastle BS (as was Icesave / is Firstsave) so its not quite the same personal service that used to be recieved.

Also remember that you can now open accounts with a lot lower balance, and as such the service being offered is no longer "premium"

Jake'sGran

You can get 4.4% from Chelsea Bldg Soc for a two year fixed rate bond, min £1000.