Derbyshire NetSaver new issue 8

Ifts

theGrinch wrote: »

savers continue to be massacred with falling savings rates despite no change in BBR rate for years.

Looks like The Derbyshire Building Society (among others) are too busy reducing the rate they lend at rather than increase savings rates for its savings customers.


The loan wars: Derbyshire BS slashes interest rates AGAIN to offer market-leading 5.4%

Read more: http://www.thisismoney.co.uk/money/cardsloans/article-2232233/Derbyshire-Building-Society-offers-5-4-loan-rate.html#ixzz2CJm3YjRB

SnowMan

I thought we had all opened an issue 3 account, 3.06% AER (including 2.06% bonus to 30/6/2013) for when the issue 1 ran out?

That's where I'll be switching.

Derbyshire sent me the letter offering me the 1.5% for the ongoing issue 1. I don't think so somehow.

We should be down to 0% by issue 16 by my calculations.

Ifts

SnowMan wrote: »

I thought we had all opened an issue 3 account, 3.06% AER (including 2.06% bonus to 30/6/2013) for when the issue 1 ran out?

I did although at the moment I'm using Santander instant access ESAVER (ISSUE 5 opened back in June 2012), which I'm using for savings, its paying a better rate than most currently available 1 year fixed rate bonds and even some 2 year offerings.

Derbyshire sent me the letter offering me the 1.5% for the ongoing issue 1. I don't think so somehow.

Same as you, think I give that one a miss!

rb10

CitySlicker wrote: »

I emailed them last week saying I wanted to go onto netsaver 7 once my current rate finished, they emailed back saying I'd get a letter with my options (which arrived today). In that letter it says my rate is going to 1.5%, but if I have provided an instruction to change the account to ignore that letter as it would be updated.

I've emailed back (fortunately using the secure online system so there's a record of my original request) demanding they put me on netsaver 7. If they don't I'll simply move my money and lodge a complaint to get compensation for missing out.

You can't expect them to reserve a rate for you for the end of the month.

If you'd transferred your money to an issue 7 then, it would have been fine. Or, as has already been mentioned, you could have opened one with £1 and then transferred later.

But expecting them to ensure that issue 7 is specifically available for you, three weeks later, is somewhat unreasonable.

JustKeepSwimming_2

G_M wrote: »

I've just received an offer in the post for Issue 9 (2.36%).

This looks like a limited edition available only to customers with existing Issue 1 accounts which are reaching the end of their bonus period - but I'm not sure.

edit: it's not on their website.

I had this today too - I'm going to transfer most funds to another (now closed) account that is paying 3.01% until 5/13 then I'll transfer back to this unless something better comes along :rotfl:as this 2.36% rate runs until 28.02.14. What a palavar for not very much interest at all :mad:

Pretty pleased with their customer service so far so no reason to leave completely.

VT82

SnowMan wrote: »

I thought we had all opened an issue 3 account, 3.06% AER (including 2.06% bonus to 30/6/2013) for when the issue 1 ran out?

I was going to, but it needed to be opened with a cheque for £1,000 even for existing customers, and I didn't want to have that lingering in my current account unnecessarily so didn't bother in the end.

Will make do with Santander 3.2% if I need to anyhoo.

buffman

SnowMan wrote: »

I thought we had all opened an issue 3 account, 3.06% AER (including 2.06% bonus to 30/6/2013) for when the issue 1 ran out?
.

As did I. I also opened the Coventry Telephone Saver and Nottingham eSaver 3 - both paying 3.2%+.

My problem will be next June when the bonuses of these accounts all end. The US may be facing a fiscal cliff in January. My savings are facing an interest rate cliff next summer.

System

It's so time-consuming doing all this bonus-checking and re-investing business. There ought to be a market for a bonus-chasing unit trust.
You give them authority to open any account with any authorised bank or building society, and then they just automatically track the best deals and move your money around the day before each expires.

SallySunshine

Had my letter today re issue one bonus finishing and yes it offers me the great interest rate of 1.5%.

How come on the back of my last statement letter it promised me

2. We will reward existing savers with exclusive savings accounts.

however apparently (Product eligibility will apply.)

guess that means high value savings, and that's not me:(

Silly really, I've a big bond maturing in December so they could have had that.

rb10

SallySunshine wrote: »

How come on the back of my last statement letter it promised me

2. We will reward existing savers with exclusive savings accounts.

The Loyalty Saver account is one example of this - open to existing Derbyshire members as well.