Clydesdale Bank

1socrates1

I have done some research on the FSA 'Money made clear' website with regard to fixed bond accounts for the long term. Clydesdale Bank is offering a 5 year term at 5.52 % (which is 4.4 % net). Anyway this looks attractive to me but I want to know more about Clydesdale Bank before I invest money with them. Any opinions would be welcome.

kostigovs

What do you want to know

1socrates1

I want to know how secure they are versus the other high street banks (I am with HSBC at the moment).

kostigovs

I assume you are asking because you are not based in Scotland.
We get so many threads asking about this bank/society because the name is not necessarily familiar to us.
As previously mentioned in other threads I had not heard of more that half of the banks/socities where I now have deposits until I started searching for the best savings rates e.g Newbury Building Society, Newcastle B.S. Julian Hodge Bank etc. meant nothing to me It does not pay to be parochial

They are a household name in Scotland and I have banked with them for 40 years

Baldur

Clydesdale are the same as Yorkshire Bank, in that they are both part of the National Australia Bank Group. They are FSA authorised - http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=77255.

1socrates1

Thanks for the info Baldur. Kostigovs, I don't feel that my view is parochial but rather that I must err on the side of caution. The offering of the best rate could be seen to be double edged. Anyway I will think over the weekend on this matter.

kostigovs

Again i ask what is it that concerns you about CB that say you does not concern you about HBOS, RBS or whoever

strawberrylane

Just for clarity and comparison purposes, the AER on the 5 year term is 5.0% (the 5.52% figure represents simple interest, i.e. not compounded).

I think the way Clydesdale and Yorkshire banks market the interest rate for these fixed term deposits is confusing and potentially misleading.

As for my (and others) experiences, read this thread....

http://forums.moneysavingexpert.com/showthread.html?t=1306501&highlight

Old_Wrinkly

1socrates1 wrote: »

I want to know more about Clydesdale Bank

They print their own banknotes and very nice they are too ...
(Aside: £100 denomination notes are so useful ...) :cool:

Rollinghome

Old_Wrinkly wrote: »

(Aside: £100 denomination notes are so useful ...) :cool:

Except when you're just buying a packet of polos.