New Derbyshire 12 month Regular Saver

derrick

This is from the page they tell you to visit in the letter, The Derbyshire

The Derbyshire, fairness and you
[FONT=&quot]Why have so many people lost confidence in financial[/FONT]
[FONT=&quot]companies? Because they’ve been treated unfairly too[/FONT]
[FONT=&quot]often. At The Derbyshire, we believe that nothing[/FONT]
[FONT=&quot]matters more than fairness in our dealings with our[/FONT]
[FONT=&quot]customers. We aim to earn your trust by treating you[/FONT]
[FONT=&quot]fairly in every way that we can.[/FONT]


A bit rich from the institution that did not raise it's reg savings account this time whe BoE raised the rate, but dropped it twice during the last 12 months when BoE did not drop

Careful_ly

rakesh wrote:

Hiya

This may be a good offer tho...how much interest can you earn [after tax] on the derbyshire account if you put in £1000 a month compared to other regular saver accounts such as the A+L or Halifax.....?? Has anyone worked out the figures yet??

Gross £357.50 === 20% taxpayer £286 === 40% taxpayer £214.50

But you will earn more interest if you have 4 x £250 of the above mentioned accounts instead:beer:

richgirl

rubbish account

steady__eddie

Do remember though that "This great new account can be opened and transacted on alongside your current Regular Savings account with us".

Have they lost the plot or what ?

Kazza242

richgirl wrote:

rubbish account

I have to say that I agree with what richgirl has said. For an account that only lasts for 12 months, a rate of 5.5% is not, as Derbyshire have put it, an 'excellent rate'. They have completely got it wrong!

I rate the regular savers offered by Stroud & Swindon, Ipswich, YBS, LTSB, A&L, Scarborough, Halifax and Abbey way above the Derbyshire offering. They should have offered a rate of at least 6%. If they had, then I might have opened one. For me, right now, there are too many better regular savers available to even consider Derbyshire's 5.5% account.

mary

Speculator wrote:

Principality Fixed 6.00% Max £1000pm

I think you will find that the max is £500, not £1,000

Speculator

Thanks Mary for pointing that out, I'll amend it.

steady__eddie

Principality do a monthly saver account http://www.principality.co.uk/Default.aspx?page=1447&lang=en which has a limit of £1000/month but the applicable rate is only 5.45 %.
Hadn't you used to be able to open 2 £500/month 6% reg saves in the past or am I having another senior moment ?

Kazza242

steady__eddie wrote:

Principality do a monthly saver account http://www.principality.co.uk/Default.aspx?page=1447&lang=en which has a limit of £1000/month but the applicable rate is only 5.45 %.
Hadn't you used to be able to open 2 £500/month 6% reg saves in the past or am I having another senior moment ?

Yes, you are right. Principality used to allow savers to open an unlimited number of their 6% regular savings bonds. They amended the T&C's recently and as a result, from now on, each customer is limited to only one regular savings bond. Those people that already have more than one of these accounts, are allowed to continue until it matures.

steady__eddie

Thank you, thank you, thank you, I did not dream it, you have restored my self-esteem.