Savings Accounts Guaranteed to Increase Rates (November edition)

[Deleted User]

Announcements notable by their absence. Quelle surprise. :rolleyes:

codetown

As per title, this thread is for 'Savings Accounts Guaranteed to Increase Rates', where guaranteed means that in the T&C there is a legal binding promise to raise if the BR raises.

Both ING and the mentioned A&L accounts do not have this promise as far as I know, so they should not be on this list anyway, even after their decisions/announcements.

Most banks will raise the rate anyway to maintain competitivity, but still they do not want to commit to hard promises for the future.

ukmike

Any news on when Birmingham Midshires is going to up their rate?Still at 5.2%.

Patr100

What about Birmingham Midshires? :

Invest as little as £1 and earn a high interest rate of 5.20% gross/AER.
This rate includes a bonus of 0.65% for the first year.

DocProc

What about Market Harborough Building Society's 'On The Dot' Internet savings accounts? Particularly, the 'Sixty+ Surfer' Easy Access Account:

Min investment is £1
Currently paying 5.12% AER monthly

http://www.mhbs.co.uk/asp/article.asp?articleid=1407&sectionid=5

If you like to spread it around so as to minimise risk and to take advantantage of the FSA compensation scheme in the event of bank failure, then this might well be worthy of some consideration.

tom188

Can I remind everyone that this is a thread for savings accounts with guaranteed rate increases.

The last few account that have been mentioned have no such guarantees, and although to remain competitive the institution should raise the rates on these accounts, they are under no obligation to do so. They are variable rate accounts.

Moggles_2

Thanks for a great post, Mr Mumble

A Bradford & Bingley customer, I was told over the phone today that the bank has raised the interest rate paid on its e-savings account to 5.35% gross/5.35% AER, 5.22% gross/5.35% AER for monthly interest (up from 4.98% gross/5.10% AER), with effect from 3 December 2006.

stphnstevey

Good post.

But might be worth waiting for things to calm down a bit, particularly as there might be another rate rise in the new year, before opening a new account. Otherwise you could be opening several accounts chasing the top payer

Cypher

Bradford and Bingley

eSavings Accounts previously 5.10% rising to 5.35% (as mentioned above by Moggles)

but also

Tax Free eISA previously 5.15% rising to 5.30%

only giving a rise of 0.15% on the ISA

Stonk

Cypher wrote:

Bradford and Bingley

eSavings Accounts previously 5.10% rising to 5.35% (as mentioned above by Moggles)

The top-of-thread article currently states 5.30% for this account, instead of the correct 5.35%.