Aldermore (Ruffler) Bank Reducing ISA rate from 3.15% to 2.80 %

I currently hold an Aldermore Cash ISA (was Ruffler Bank) at a rate of 3.15% Gross AER.

I've just been informed that they are reducing the rate to 2.80%.

Where is everyone else moving to ? - Or is this still a reasonable rate ?

Thanks in advance,
«13

Comments

  • Mikeyorks
    Mikeyorks Posts: 10,377 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    If that's 'easy access' then it's still a very good rate. Or is it a maturing 'fixed'? In which case you can get circa 3% for 1 year with eg Julian Hodge.

    But I wouldn't fix above a year as rates will improve in the interim. If the 2.8% is easy access I'd be tempted by that and look afresh after April. But the only easy access (30 day notice) they advertise is at 2.65% .... but that's still about the best available. The 2.8% might be a maturity only offer?

    http://www.aldermore.co.uk/savings/cash-isa.aspx
    If you want to test the depth of the water .........don't use both feet !
  • jem16
    jem16 Posts: 19,575 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It's the 30 day notice account.

    However the 2.8% down from 3.15% was for those who were originally Ruffler Bank customers and got a more preferentail rate than new customers.

    I haven't decided what to do as yet.
  • darren72
    darren72 Posts: 1,301 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Sorry, yes it is a 30 day account.

    I can't decide what to do either :(
  • mr_fishbulb
    mr_fishbulb Posts: 5,224 Forumite
    Part of the Furniture Combo Breaker
    How were you informed of the rate reduction? Nothing about it on their site - http://www.aldermore.co.uk/savings/historic-rates.aspx
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    i havent heard of this either and have 2x years worth in cash with aldermore/ruffler
    :confused:
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • jem16
    jem16 Posts: 19,575 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    How were you informed of the rate reduction? Nothing about it on their site - http://www.aldermore.co.uk/savings/historic-rates.aspx

    Received a letter about it yesterday.
  • Old_Slaphead
    Old_Slaphead Posts: 2,749 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Rate reduces 12/2/2010 so no need to make a decision before then. They're also offering a 3.15% 1 year fix to those ISA issue holders.

    Depending on what happens to rates in next month, I might split my funds.
  • OneADay
    OneADay Posts: 9,031 Forumite
    1,000 Posts Combo Breaker
    Same boat here - didn't see this thread before typing a new one http://forums.moneysavingexpert.com/showthread.html?t=2193443 :eek:
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    Oh great- weve had no post today :(

    mind you 3.15fix isnt bad really...??
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • OneADay
    OneADay Posts: 9,031 Forumite
    1,000 Posts Combo Breaker
    3.15% is not great for 12 months if there is an improvement offered close to start of new financial year in April.

    Halifax are offering 4.25% for 4 years fixed but only 2.5% for 1 year.

    I really do not want to fix. Its becoming a headache trying to shuffle from place to place.

    Come on Branson - start offering some good deals with your new bank!!!!!!!!!!!!!
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