charting interest rate rises – 1st Egg, 2nd Abbey

in Savings & investments
37 replies 7.4K views
13

Replies

  • af20001af20001 Forumite
    15 Posts
    Here is what Smile have just announced:

    smile interest rate changes
    From start of business Tuesday 1st June, following the recent Bank of England
    Base Rate increase from 4.00% to 4.25%, the rates on all the accounts where
    money is deposited with smile will be as follows:

    - savings account - increased to 3.75% gross / AER if you have a smile current
    account; increased to 3.00% gross / AER if you don't have a smile current
    account
    - cash mini ISA - increased to 4.50% gross / AER tax-free if you have a smile
    current account; increased to 3.75% gross / AER tax-free if you don't have a
    smile current account
    - current account, smilemore and student account interest rates remain
    unchanged at 3.00% gross, 3.04% AER

    Bit of a shame they are not increasing the current account rates.
  • MilarkyMilarky Forumite
    6.3K Posts
    Part of the Furniture 1,000 Posts Photogenic
    Just got this email:

    Following the Bank of England base rate change on May 6th 2004, cahoot will be increasing the interest rate on your cahoot savings account by 0.25% from 4.35% AER* to 4.60% AER on June 3rd 2004.

    In addition, cahoot still guarantees, the in-credit interest rate on the cahoot savings account will never be less than the Bank of England base rate (repo rate)**.

    The new savings account interest rates are as follows;

    *******************************************************
    Account balance GBP AER gross p.a.
    *******************************************************
    Up to 249,999 4.60% 4.51%
    250,000 + 3.50% 3.45%
    *******************************************************

    Make the most of your cahoot savings account by setting up a regular deposit. To do this, you should set up a standing order with your bank (whether it's cahoot or an external account) quoting your cahoot savings account sort code and account number. You can find these on your savings account 'account status' page when you log in at http://www.cahoot.com.

    If you have any questions about these changes, please log in to your 'personal homepage' at http://www.cahoot.com and email us through 'contact us'. Messages sent from your 'personal homepage' are secure and will be responded to as a priority.

    cahoot is committed to giving you long-term attractive rates, innovative products and great service. Thanks for continuing to bank with cahoot.

    Kind regards


    Harvey Griffith
    cahoot contact centre manager


    Previous savings account rates:

    ********************************************************
    Account balance GBP AER gross p.a.
    ********************************************************
    Up to 249,999 4.35% 4.27%
    250,000 + 3.25% 3.20%
    ********************************************************

    * AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.. Gross p.a. means the yearly rate of interest before income tax deduction, if applicable. Interest is calculated daily, based on the total balance in your account at the end of each day and is added to your account each month.
    **with balances below 250,000 GBP for more than 30 days until 31st December 2004

    'GBP' stands for Great Britain Pounds and is used instead of the 'pound'
    symbol to signify the currency used in Great Britain
    .....under construction....
  • bonecold1bonecold1 Forumite
    27 Posts
    Derbyshire have upped their Regular Savers account from 5.2% (with bonus) to 5.4% with effect from today.
    2012 money saving challenge:

    Saved: £16,222
    Target: £12,000
  • ffacoffipawbffacoffipawb Forumite
    3.6K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    In addition, cahoot still guarantees, the in-credit interest rate on the cahoot savings account will never be less than the Bank of England base rate (repo rate)**.

    **with balances below 250,000 GBP for more than 30 days until 31st December 2004

    Interesting definition of the word "never" !
  • RoehydeRoehyde Forumite
    14 Posts
    Nationwide's website is showing increased interest rates as of 1st June.
  • Noxid_2Noxid_2 Forumite
    13 Posts
    Halifax's have risen

    Websaver 4.5%
    ISA Saver Direct 4.65%
    etc
    Charles J
  • MilarkyMilarky Forumite
    6.3K Posts
    Part of the Furniture 1,000 Posts Photogenic

    Interesting definition of the word "never" !

    I see where you are coming from Brain! It's a quote from cahoot. I've got a feeling the email is a shorthand for something they will already have said, such as: "Until [date] we guarantee that ... ... will never be less than ...[blah!, blah!]. I've got a cahoot account with 0.00 in it, so maybe that one's for a rainy day when interest rates hit 15% [oil crisis?]
    .....under construction....
  • MilarkyMilarky Forumite
    6.3K Posts
    Part of the Furniture 1,000 Posts Photogenic
    Portman Building Society are offering a 1 year fixed rate of 5.60% (4.48% net) to 1 September 2005 (a good place for your 0% Barclaycard money?)

    Minimum investment is £2500 and there is no option to close early (90 days loss of interest)


    https://www.portman.co.uk

    0845 045 0113 (ref '134') - seen in FT this moring

    BTW, would a thread tracking fixed rate/term savings offers not be a sensbile idea, as this thread is really for variable rates?
    .....under construction....
  • Another 1/4 % rise in the BoE Base Rate today, which savings accounts will be first to rise?!?
    Cider Country Solar PV generator: 3.7kWp Enfinity system on unshaded SE (-36deg azimuth) & 45deg roof
  • SystemSystem Forumite, Community Admin
    177.9K Posts
    10,000 Posts Name Dropper
    Community Admin
    Can we expect Ing to raise thier interest rate to 4.9% ??? Please !!!! I live in hope :)
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