Loughborough BS 8% Regular Saver

Old_Slaphead

But make a note in your diary - guarantee of base +2.5% only applies to 31 March 2009.

bristolleedsfan

MrChips wrote: »

I assume it doesn't matter if it doesn't go in on the same day each month?

quote]

Correct, dates can vary, amounts cannot.

MrChips

Thanks for putting me straight everyone. One more query though - the interest rate page on their website seems to be saying the rate has decreased by 1% from 6.5% to 5.5% (including bonus). However I'm pretty sure it was 7% before the big November base rate cut. Can anyone confirm?

RayWolfe

Think about it. What was the rate you saw before they changed it? If you've forgotten, it was in your post #95. That would tell me that the current rate sheet is wrong regarding the old rate .........

mary

Is anyone else in agreement. Mine matures on 15 March.
So as I can get a better rate elsewhere, I should withdraw all except £10 now. It appears it has to be by cheque. But continue paying in the same £250 until maturity, as you can only change the amount at the time of the anniversary.

RayWolfe

Yes you can, whether you should remains your choice.

MrChips

RayWolfe wrote: »

Think about it. What was the rate you saw before they changed it? If you've forgotten, it was in your post #95. That would tell me that the current rate sheet is wrong regarding the old rate .........

If only my memory was strong enough to remember things for more than 24 hours!

DeepSporran

mary wrote: »

Is anyone else in agreement. Mine matures on 15 March.
So as I can get a better rate elsewhere, I should withdraw all except £10 now. It appears it has to be by cheque. But continue paying in the same £250 until maturity, as you can only change the amount at the time of the anniversary.

That's what I'm doing. Remember that you only have to make 11 out of 12 payments, so you can skip your final monthly deposit (assuming you haven't already taken a holiday). So you probably only need to make one more payment, in January.

mary

Well without doing the calculations I decided it was better to withdraw
the £5,490 and put it into an account (currently still paying me 6.49% Coventry Esave till end of Dec, and moving on to Ing @ 6.09 till end of March) i.e. better to look after the larger chunk of
money and simply continue with 2 more payments of £250 for Jan & Feb. earning the smaller amount of 5.5%.
Letter's already in the post. By the way rather than having them post me the cheque and then me post it on to Coventry, they were even prepared to run round and pop it in their letter box, if it was local to them on my behalf.. Instead I have given instructions in the letter and they will send the cheque directly to Coventry for me, so that saves a few more days in transit.

Old_Slaphead

Will probably have a negligible benefit - extra interest gained for 3 or 4 months (less tax if you're a t/payer) will be mostly offset by the week or so that your money is not earning whilst in transit/clearing.