West Bromwich E Bond 21 extension offer

OneADay

Hmmm - just got a letter from West Bromwich Building Society regarding my e bond issue 21 opened earlier this year for 1 year I think. i.e. existing bond is to May 2010.

They are offering an extension to the bond (with funds from the existing bond being transferred over if I sign up to one of following)

18 months fixed 4.30% Gross p.a. - 4.31% AER fixed to 31st May 2011
2.5 year fixed 4.50% Gross p.a. - 4.51% AER fixed to 31st May 2012
3.5 year fixed 4.80% Gross p.a. - 4.81% AER fixed to 31st May 2013

Anyone else getting this offer feel tempted or not? I am not maybe they could up the offer by 1%

luvpump

Looking at some of the rates available now, makes me soooo gladdd i followed the advise on here & shoved ALL my money in the 5 yr newcastle bond paying 5%, but with the 90 day get-out clause

oldagetraveller

Yes, I've had the same letter. I've also got an issue 23 at the same initial rate as the issue 21. Got until later this month to decide, at the moment undecided as to whether this is a reasonable offer (the 18 month option) or not?
I've also ignored the irrelevant previous post!

ManAtHome

I have 21 and 22 - both mature 31/05/2010. Interesting approach - 'convert your 1 year into a 2 year', but I'll be hanging on. Savings rates have been inching up the last few months even though demand for new money (mortgages and loans) is still bumping along the bottom - 6 months is a long time in politics/economics these days...

apt

I think the 4.3% over 18 months is a fair offer providing you do not need access to the money. You will not get a better rate for under 2 years at present and you avoid the hassle and loss of a week or two of interest when moving accounts.

BargainJunky

I've got an E bond 15 that matures 31st January 2010 - they are offering me the following:

2 year fixed paying 4.35% gross from 1 Feb 2010 until 31 January 2012.

3 year fixed paying 4.75% gross from 1 Feb 2010 until 31 January 2013.

5 year fixed paying 5.30% gross from 1 Feb 2010 until 31 January 2015.

Very unsure as what to do - dont want to fix for five years but should I be considering the other two options.

D1zzy

Are there any early withdrawal options? I wouldn't do > the 2 without a getout option.
2 years @ 4.35 is about as good as you can get at the moment & 5 years @ 5.3% with a 90 day penalty option is also a good offer.

Old_Slaphead

BargainJunky wrote: »

I've got an E bond 15 that matures 31st January 2010 - they are offering me the following:

2 year fixed paying 4.35% gross from 1 Feb 2010 until 31 January 2012.

3 year fixed paying 4.75% gross from 1 Feb 2010 until 31 January 2013.

5 year fixed paying 5.30% gross from 1 Feb 2010 until 31 January 2015.

Very unsure as what to do - dont want to fix for five years but should I be considering the other two options.

I've the same offer on E16 issue (to 31/01/10). Though I don't have immediate need for the cash, I'm not prepared to committ further to WBBS on these terms.

kostigovs

Like others I got a letter too. Are they struggling for depositors?

alanwsg

I just got one to extend my E22 by an extra year to 31st May 2011 at 4.3%
Can also have the currently accrued interest paid out now.
I might take it, seems like a good deal at the moment.

theGrinch

seems like a desperate rather than good admin and management with savers.
I got mine this morning and I have 8 months to run.