The rot spreads
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Nottingham eSaver Plus Issue 3, was 1.0 + 2.2% = 3.2% until June 30th, now to be 0.2 + 2.2% = 2.4% from March 8th
Nottingham eSaver Plus Issue 4, was 1.0 + 2.1% = 3.1% until Sept 30th, now to be 0.3 + 2.1% = 2.4% from March 8th
Until now, while new customer rates have dropped like a stone and clean rates for existing accounts have slipped a bit, introductory offers in SVR + fixed bonus format have generally been safe for the duration of the bonus period.
Is this the first time we've seen the SVR component of an introductory bonus deal reduced during the bonus period? Probably not the last.
I wouldn't mind so much, but I've let other accounts pass me by on the basis that they didn't beat the Nottingham. New rule for forward-planning rate tarts - open everything going.
The old 0.1 + 2.7% on the Halifax Online Saver starts to look pretty good now.
Nottingham eSaver Plus Issue 3, was 1.0 + 2.2% = 3.2% until June 30th, now to be 0.2 + 2.2% = 2.4% from March 8th
Nottingham eSaver Plus Issue 4, was 1.0 + 2.1% = 3.1% until Sept 30th, now to be 0.3 + 2.1% = 2.4% from March 8th
Until now, while new customer rates have dropped like a stone and clean rates for existing accounts have slipped a bit, introductory offers in SVR + fixed bonus format have generally been safe for the duration of the bonus period.
Is this the first time we've seen the SVR component of an introductory bonus deal reduced during the bonus period? Probably not the last.
I wouldn't mind so much, but I've let other accounts pass me by on the basis that they didn't beat the Nottingham. New rule for forward-planning rate tarts - open everything going.
The old 0.1 + 2.7% on the Halifax Online Saver starts to look pretty good now.
"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
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Comments
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Oh blast!!!!Stompa0
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true, you just can't trust 'em. Sweating on Santander 3.15% to June... then...what !?0
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I wonder how long it will be before savers are charged rather than giving interest to savers?
The way things are going rates are going to keep plummeting lower and lower and there is nowt savers can do about it, they don't want our money at the moment and as long as people keep their money with them when rates fall (and there are not many options left to switch too) rates will keep going down, after all they are businesses not charities and why should they pay more than they have too.
I don't like it, it effects me a great deal in terms of income, There is not much I can do about it, but I don't really blame them TBH.
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Derbyshire NetSaver 3 3.06% runs out June 30th, if it doesn't go off before then.true, you just can't trust 'em. Sweating on Santander 3.15% to June... then...what !?
After that there's Santander 6 and NetSaver 4, except I didn't open those.
NatWest 2.85% until Octoberish looking more useful now
Chances of NetSaver 6 holding up at 2.75% until 2014? Can't be good."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
We managed to tuck a few bob away in a 3.6% Cahoot until the end of this year but have a few others accounts at between 3% and 4% coming to an end between March and May.
We've going to use Santander 123 and/or a few Lloyds Vantage accounts for some of it, but TBH I'm inclined to reduce our cash allocation and drift some more money into dividend producing assets.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »We've going to use Santander 123 and/or a few Lloyds Vantage accounts for some of it
My prediction is they'll cut the rates on those before long, too. Particularly if there's a run on the accounts from desperate savers.
Sounds a good plangadgetmind wrote: »TBH I'm inclined to reduce our cash allocation and drift some more money into dividend producing assets0 -
Coventry 3.25 reducing to 2.75 in February.0
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Sounds a good plan
Only because this cash is part of our long-term savings and investments. If I was currently saving for a house then I'd be less than impressed!
Even my daughter's Santander First Home Saver has dropped to 3%. Good job I put some of her money into Lloyds Preference Shares!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
I opened some random Newcastle BS Bobby Robson account (2.35%) and a Tesco account (2.40%) purely so I could set up some DDs for my Vantage accounts. Now come June they're going to be highest paying accounts apart from my Vantages. Wasn't expecting that!
Ditto on the 'going into equities' at some point prior to ISA year end.0
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