URGENT.... AA Fixed savings

Potato

Saw Martin's email about the AA fixed rate 5.15% savings for 5 years.
It is implied that you can get your money out with 90 days loss of interest.

BEWARE .... as I read the conditions it says that you CANNOT get your money out before 2 years and thereafter you loose 90 days interest.

PLEASE clarify Martin!!

Baldur

See http://forums.moneysavingexpert.com/showpost.html?p=25968685&postcount=1110

In this thread from post #1109

toepazz

Just tried the AA site 5-year deal and looks like they have closed it down

"Unfortunately, the AA savings account you've selected is not available."

Reaper

Both the AA and the BM accounts were closed this morning. See the other thread.

kar999

Glad I got in there quick this morning. I just hope they honour my application.

The 2 year deals are still up and running on the AA website.

ANGLICANPAT

Yorkshire 5yr is 5.3% http://www.ybs.co.uk/email/existing/landing/msm_5yr.html?cmpid=156

apt

Yes the YBS rate is higher but 'No withdrawals or closure allowed during the term of the e-Bond' is an important drawback. Unlike AA there's no escape if interest rates and inflation rocket.

Ypaymore

The Saga fixed rate 5% bond for the Over 50,s is still available.

http://www.saga.co.uk/money-shop/savings/fixed-rate/

Like the AA bond run by BM, and it has the same T&C for withdrawals as the withdrawn AA & BM bonds.

cepheus

I tried to apply for the AA 5 yr bond as soon as receiving Martins weeky Email, but it was already pulled! Rather disappointing since I have just received the proceeds from a matured bond the previous day.

Has anyone a view on the outlook for bank/BS bonds based on financial instruments? Close Brothers seem to offer something competitive every year or so is this due out?

KingL

cepheus wrote: »

Close Brothers seem to offer something competitive every year or so is this due out?

Their 7% bond (the last deal from the good old days) matures in early November and apparently the renewal option is 3.8% for 18months, so don't expect anything too spectacular.


edit: new bonds from Close Bros here (4.5% 2Yr / 4.75% 3Yr)

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Magenta

Hi all,

I manged to open one of the 5 year fixed saving accounts with the AA and have a couple of questions.

If I understand correctly the fixed 5.15% rate is only valid for the first year and then the rate will go down. Is this the case?

So if I need to withdraw my money from this account before Nov 2010 do I have to give 90 days notice?

As you can see I am a little bit confused!!! Any help appreciated. xx