West Brom Savings Insult

alehandro_2

I've had an account with ICICI for few years now, including bonds recently. Their bond rates are quite competitive. I received a call from them 1 month prior to my bond maturing and was pleasantly surprised when they told me that if I decided to re-invest with them before my bond matured I would get higher interest rate than new customers! This is quite the opposite of what local UK banks do - pay higher to new customers! Finally someone has changed the trend to what it should be.

cvd

My feelings for the West Brom are mixed.

I received a letter from the West Brom in March. In July, they are closing the branch near me and six others in order to concentrate all their efforts on their traditional area of Birmingham and the Black Country.

thor

RayWolfe wrote: »

With bank rates at 0.5%, what exactly would you expect?
It's not necessarily sensible to take 3% instant access when tomorrow, the provider can reduce rates to 0.1%!
Finally, don't compare last months new customer rate, compare today's new customer rate.

Is it not more relevant what they charge on loans and mortgages? Margins are ever widening and unfortunately there are too many apologists around who appear to have settled in to accepting it. This is why all banks and building socities are getting away with it.