5% one-year fix, Nottingham BS?

amictus

Jevvers wrote: »

This calculator allows you to start from 0 and add monthly contributions, giving a total at the end of the year of £5771 = £131 interest.

Thanks for the link, but it doesn't agree with my quick Excel calculation. This one does:

http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator

owains wrote: »

Has anyone else tried this method? Should I have a go?

There's no mention of how to fund this account (initial opening amount) on the application form? Send a cheque payable to yourself along with the form perhaps?

I'm tempted to just send off the form with a cheque and see what happens. Hmmm... probably should give them a ring tomorrow beforehand.

The_Enforcer

owains wrote: »

I'm tempted to just send off the form with a cheque and see what happens. Hmmm... probably should give them a ring tomorrow beforehand.

Good call. I will try the email route and see what response I get that way.

amictus

Well gave them a ring today and was told the form can be used to open the account, though they expect you to hand it in at a branch rather than post it.

http://www.thenottingham.com/help-centre/savings-faqs/

For branch based accounts, call into your local branch with the required identification and we will open your account there and then. You cannot apply for a branch account by post.

I'm still going to give it a go though... worst they can do is say no!

The_Enforcer

I have had a response to my email, which was slightly different to your response.

In summary, if I already had an account with them I could post a cheque with the form to their City Branch. As I don't have an account with them, they require proof of ID to be shown in-branch.

amictus

The_Enforcer wrote: »

I have had a response to my email, which was slightly different to your response.

In summary, if I already had an account with them I could post a cheque with the form to their City Branch. As I don't have an account with them, they require proof of ID to be shown in-branch.

OK thanks for the info. I sent the form off this morning with a brief covering note and scanned copy of my passport as proof of ID. Don't expect they'll accept it but worth a try.

The_Enforcer

I'm making an in-branch appointment for a couple of weeks' time.

amictus

The_Enforcer wrote: »

I'm making an in-branch appointment for a couple of weeks' time.

Yeah that would be the best option, but Nottingham is 240 miles away from where I live!

The_Enforcer

I'm about half that distance, but happen to be staying about 20 miles from Grantham where one of their branches is in a couple of weeks' time.

BFM

on the basis that if they are offering a product to the market they want folks to actually buy/use it, why would they limit this to a branch only product.

I don't get what is in it for them?

Ash1982

they will want to limit the deposits to a managable amount I guess. It will give them a relatively reliable revenue stream over the year.

I'm going to open mine tomorrow, lucky I live about a mile away from my nearest branch!