Ipswich BS launch Target Saver issue 2 - 7.25% (4 Dec 2006)

Kazza242

According to the Ipswich BS website, they have withdrawn issue 1 of their popular Target saver (regular savings) account paying 8.25% and will be replacing it with issue 2 paying 7.25%.

The info has now been uploaded to Moneyfacts, here

Details of Target Saver 2 will be added to the Ipswich BS website on Monday 4th December.

EDIT: I just called Ipswich, they confirmed that those savers that have Target Saver issue 1 can open issue 2. You do not need to send in any ID (as you already have an account with them), but you must mark 'Existing customer' on your application form.

RayWolfe

MoneyFacts say 7.25%
He who hesitated has lost!

Kazza242

RayWolfe wrote:

MoneyFacts say 7.25%
He who hesitated has lost!

Do you mean those people that have missed out on the 8.25% offering?

I would kick myself if I'd missed out on it. Fortunately, I opened my issue 1 Target Saver back in October.:D

Still 7.25% is not bad, but Britannia, LTSB etc offer better rates.

Kazza242

Moneyfacts have added the Ipswich issue 2 Target Saver to their Regular Savings frontpage, here.

RayWolfe

Kazza242 wrote:

Do you mean those people that have missed out on the 8.25% offering?

I would kick myself if I'd missed out on it. Fortunately, I opened my issue 1 Target Saver back in October.:D

Still 7.25% is not bad, but Britannia, LTSB etc offer better rates.

Yes, I did mean those that had missed out, but fortunatly that does not include myself. (Smug Grin)
What I find strange is that issue 1 is not fixed rate so why not just reduce the original offering?
Better keep quiet, they may be listening. ;-)

Kazza242

RayWolfe wrote:

What I find strange is that issue 1 is not fixed rate so why not just reduce the original offering?
Better keep quiet, they may be listening. ;-)

Shhh;). I guess by offering an issue 2, Ipswich can draw in more new money from existing issue 1 customers. They wouldn't have been able to do this if they'd simply reduced issue 1.

Still, if I open issue 2 alongside my existing issue 1 account, I'll be receiving a combined gross rate of 7.75% on £500 per month. Not bad, almost as good as my recently matured Cheshire (8% £500PM) offering.:D

RayWolfe

Kazza242 wrote:

Still, if I open issue 2 alongside my existing issue 1 account, I'll be receiving a combined gross rate of 7.75% on £500 per month.

As would I so my cheque will be going on Monday if the rate is confirmed. (Or at least, my wife's cheque and R85 will be going on Monday.) ;-)

Riviera_Kid

RayWolfe wrote:

MoneyFacts say 7.25%
He who hesitated has lost!

I was going to open one next month so I guess I'm one of them

Never mind though, it was a good rate but it's not the end of the world by any means. I will probably still open an account with them but will now consider other options as well.

georgiasmum

For the first time in my life I made a good financial decision and opened Issue 1 with them.... normally this is so unlike me.....

Sillychuckie

Ok, i opened an issue 1 last week and even got my book yesterday.
Looking it however, it just says "Target Saver". It doesn't specify which issue.
Can someone out there who also has a Target Saver (Issue 1) confirm theirs does not state 'Issue 1' on it.
I want to check they didn't try to pull a fast one by giving me an Issue 2 (even though it isn't officially out there yet).
I know im being paranoid, but would just like to check.

Once confirmed, I'll be opening an issue 2 next week also.
Wonderful news. So glad I didn't put it off any later.

johnmoney05

mine opened in July, only said "Target Saver".