Chesire 8% Coming to a End Soon

mary

If you want to know where to look the accounts are as follows

10% Bradford & Bingley £150 10 months only £1,500 (now closed)
10% Alliance & Leicester £250 1 year £3,000
10% Barclays £250 1 year £3,000
8% Lloyds £250 2 years £6,500
7% Leeds £100 1 year £1,200 (now closed)
7% Halifax £250 1 year £3,000
7% Stroud & Swindon £1,000 1 year £12,000
6.75% Principality £500 1 year £6,000 (now closed)
6% Leek £250 1 year £3,000
6% Principality £500 1 year £6,000
6% Principality £500 1 year £6,000

Correction, it was £51,200 not £50,200
So there was £4,000 going out each month but of course that changes depending on when each account matures.
I have to say I am lucky in that I inherited the majority of my money. My Dad always used to tell me that you have to make your money work for you!

I know what you mean about opening accounts and find they drop the rate. It happened to me too. The bulk of the money at that point was with Cahoot in their 5.3% account, which dropped and dropped again, just arranged to open a First Direct account and they dropped theirs too, luckily before I transferred. Then I opened Birmingham Midshires for 4.95% and the week before I was due to transfer the money, Ing increased their rate, temporarily to 6% so it went there until August 1st, when the rate will drop. I always keep old savings accounts open, just in case they up the rate, it saves a lot of hassle in registering. However, not all banks/building societies give the best rates to existing customers. If it wasn't for this site, I would not be able to do what I do, as there are always some eagle eyed people out there forewarning us of good rates in the pipeline.

Geoffo_M

That's an interesting list Mary, but just shows how many there are around. It must be a bit of a bind each time sending off the anti money-laundering documents that they ask for, but well worth the time.

There's a couple of coincidences between us. Most of my money I also inherited, and it is this that makes me want ot make the most of my parents hard earned cash. I also had two savings accounts with cahoot. One at 5.6% the other 5.3%. Then, as you say, recently, they reduced both to 4.55%. So, I'm starting to move money away from there, and this week opened the Lloyds 8% regular saver.

Thanks for posting that list - very interesting

Geoff

SalsaDanca

Yesterday I noticed another regular saver account that isn't on Mary's list. It's from Norwich & Peterborough, and pays 8%. You can deposit up to £250/month for a year. The main restriction is that you must open a current account with N&P and pay in £1,000/month, but this doesn't have to be your salary. http://www.npbs.co.uk/savings/eight-percent.asp

You can also get 8.05% on £250/month for a year from Ipswich Building Society's Target Saver, but only if your home address has a postcode starting with CB, CM, CO, IP, NR or PE.

Regards,

Rob

mary

Live far , far away from Ipswich. As for the Norwich & Peterborough I have to confess I balked at the thought of jiggling another 1,000 per month, pushing it back & forwards to dispose of the remaning £750 each month. I'm not sure whether midway through a Regular Saver you can switch supplier of the SO or whether you have to stay with the same one throughout the 12 month period.

Thanks for the suggestion.

Kazza242

EDITED: Have now found the answer to my own question.

Milarky

With £500 you can open an 'Escalator Bond' for 2 or 4 years. The rate is very good - if only for a 'carpetbagger' account.

Afahmaep

SalsaDanca wrote:

You can also get 8.05% on £250/month for a year from Ipswich Building Society's Target Saver, but only if your home address has a postcode starting with CB, CM, CO, IP, NR or PE.

Regards,

Rob

I'm sure that they have relaxed the restrictions and anyone can apply now.

rangers_fc

How do we withdraw from this account after the anniversary i.e get our cash back + interest without penalties? Can I withdraw funds via the post. Has anybody any more info on the Ipswich offer for non branch members?

Innys

The thing to note about the Ipsiwch account is the interest rate is variable. Granted, interest rates are likely to rise rather than fall in the next year, but there is no guarantee they won't cut the rate anyway!

I think it may be better to go for a regular saver with a fixed hhigh rate - or wait until interest rates start to go up.

Dagobert

rangers_fc wrote:

I take it Im not the only person to Invest in the Cheshire Regular Saver, where next people? I dont think this offer extends beyond the 1yr close out period although I would like to be corrected

Existing Cheshire regular saver customers will be offered to continue saving into the same regular saver account at 6%*.


*so I was told over the phone