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Northern Rock Silver Savings

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we have just had a letter this morning saying that the interest rate on our Silver Savers 30day account is being reduced from 4.8% to 4.7% from June 26th,if intersest rates are on the way up how can they justify this.!!

When we opened the account it was 5.1%,the Bank rate has remained the same over that period.
A wise man changes his mind, a fool never will.
El sabio muda el consejo, el necio no.

Comments

  • caveat_emptor
    caveat_emptor Posts: 765 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Well I guess that NR will be reducing their internet interest rate at the same time. BTW I always wondered what the attraction is for 'Silver saver' accounts generally as they always seem to be below the best rates available.
    For instance NR are paying 5% for six months with instant access and your account is paying 4.8% for 30 day access.
    Named after my cat, picture coming shortly
  • regularsaver1
    regularsaver1 Posts: 4,930 Forumite
    who said that interest rates are on the way up? no one has a crystal ball

    they are following suit from other savings providers
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