Co-op/Britannia Three New Fixed Rate Bonds

Froglet

I would send your cheque off asap and keep your fingers crossed! I have only ever once had a cheque returned when the bank/BS was extremely inflexible on the cut off date.Won't use them again.

alanq

alanq wrote: »

"New bonds launching soon! We're launching our new range of bonds soon. Please check back in the next few days.

It seems that Co-Op is now only offering fixed rate deposit accounts with its own brand to customers with a "Qualifying Current Account".
1-year 1.87%, 2-year 2.09% Gross on maturity.

For others the Britannia products are offered
1-year 1.65%, 2-year 1.90% Gross annually Ouch!!!

http://www.co-operativebank.co.uk/servlet/Satellite/1363590872912,CFSweb/Page/Bank-Savings

Froglet

Ouch indeed.It took Britannia so long to cash my cheque that i rang up.I was assured they would get around to it but they had a huge backlog as the bonds were so popular.And they would honour the rate from the day they received the cheque.

It took just over 2 weeks but i have now received the passbook and yes,it is from the date they received the cheque and forms.It was lucky i spotted the 3 year rate, i bet it won't come up again for a while at 3%.So thanks OP .

Up to 6 months ago all the new good rates were continually posted on here and those that could took advantage.How often do you see that happening now!!

badger09

Froglet wrote: »

Up to 6 months ago all the new good rates were continually posted on here and those that could took advantage.How often do you see that happening now!!

Its still happening - its just that there are fewer and fewer to post about

Jegersmart

I know that everyone is different, but it would be unimaginable to me to be in a position where I would lock my cash away for 3 years at 3% gross in a almost zero interest rate rate environment...! Whilst the 3% is pitiful but understandable, the main problem is the lack of access and the period of time. A lot can change in 1 year, let alone 3.

Good luck though!

J

alanq

Jegersmart wrote: »

I know that everyone is different, but it would be unimaginable to me to be in a position where I would lock my cash away for 3 years at 3% gross in a almost zero interest rate rate environment...! Whilst the 3% is pitiful but understandable, the main problem is the lack of access and the period of time. A lot can change in 1 year, let alone 3.

Good luck though!

J

Those in the fortunate position to have sufficient funds can arrange things such that a number of fixed term products mature at different times. It would almost certainly be foolish to tie up 90% of ones total wealth for 3 years. However, by carefully choosing a mixture of instant access, accessible with penalty and different fixed terms one can greatly improve their return. I have a Northern Rock 5-year account paying 7% which sadly will be maturing this summer.

alanq

Froglet wrote: »

Oooh do you think i could have a punt on them being about 0.5% less than the last lot!!

Britannia
1-year was 2.31% now 1.65% -0.66%
2-year was 2.50% now 1.90% -0.60%
3-year was 3.00% now unavailable.

Froglet was too optimistic!

Froglet

alanq wrote: »

Britannia
1-year was 2.31% now 1.65% -0.66%
2-year was 2.50% now 1.90% -0.60%
3-year was 3.00% now unavailable.

Froglet was too optimistic!

Yes i should have known better really

There's one thing we can all be sure of though.The only way for rates is DOWN.:(

Jegersmart,3% looks far from pitiful when you see institutions calling 1.5% a headline rate!! I don't think a lot will change in 3 years never mind a year.