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Clydesdale Bank Overdraft Rate
SussexDon1
Posts: 5 Forumite
in Loans
Hi there, I had a OD from Clydesdale Bank. They offered it to me £5k.
I have significant deposits with them like £100,000 +
I get zippo interest
So when they offered me the OD at 2% over BofE that seemed good to me. (As I try and keep my income below the high tax threshhold its seem good to use the OD)
Now they say its going to go up to not 2.5% not 3% BUT 6%!!!
Due to market forces - yet the deposit rates are NOT GOING UP!!!
Of course I will repay this loan.
The T&C seem to allow them to do this but can they!!???
I have significant deposits with them like £100,000 +
I get zippo interest
So when they offered me the OD at 2% over BofE that seemed good to me. (As I try and keep my income below the high tax threshhold its seem good to use the OD)
Now they say its going to go up to not 2.5% not 3% BUT 6%!!!
Due to market forces - yet the deposit rates are NOT GOING UP!!!
Of course I will repay this loan.
The T&C seem to allow them to do this but can they!!???
0
Comments
-
6% over BoE rate is a fantastically good rate
to spend money on interest to avoid tax seems somewhat bizarre but I don't know the full circumstances0 -
A very very good rate indeed.Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0
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