BOE Base rate 5.5%: Has your savings rate risen?

intalex

Secret_Wookie wrote: »

I have had it on good authority that the HSBC Online Saver Offer will be increasing to 6% AER from the start of June.

Seems like we have a new benchmark of 6% to aim for.

Anyone else getting 6% on their Savings?

I hope so.

If it happens, I'll be glad to close my old issue on 1st June and open the new issue a couple of days later.

intalex

Secret_Wookie wrote: »

I have had it on good authority that the HSBC Online Saver Offer will be increasing to 6% AER from the start of June.

Any ideas as to when and where this will be announced?

gt94sss2

intalex wrote: »

Any ideas as to when and where this will be announced?

HSBC have recently been amended their interest rates about 3 weeks after the base rate.

As such, I would expect their interest rates to change around the 4th June - with the press having the interest rates on either the weekend (or maybe the Friday) before

Regards
Sunil

Biggles

Kent Reliance Direct Tracker Rollover Bond up from 5.75% to 6% on 1 Jun.

intalex

gt94sss2 wrote: »

HSBC have recently been amended their interest rates about 3 weeks after the base rate.

As such, I would expect their interest rates to change around the 4th June - with the press having the interest rates on either the weekend (or maybe the Friday) before

Regards
Sunil

I dunno why, but I just think that HSBC are not gonna pass on the last rate rise to their online saver, or indeed the widely expected next rate rise. I think they will claim the 0.5% advance increase (from 5.25% to 5.75%) as good enough for their customers.

I take it the old issue of online saver will cease upward movements in interest rates now that it's a discontinued product ???

FridaysVictim

The AA are paying 5.85% (up from 5.60%) on their Phone and save account from 1st June - 0845 602 6203 http://www.theaa.com/savings/telephone.html . Includes a bonus but I just switch mine over with them whenever a new deal arrives .

ED

intalex - Sunil rightly predicted HSBC would raise savings interest rates on June 4th. 5.37% gross is paid for Online Saver (original version, opened before 05.02.07)

6% for the new Online Saver Offer. Beware nil interest paid on full balance in any month a withdrawal is made.

intalex

yea, i figured that out after the rate rise was announced to the press last week. i've closed my old version online saver, and am just waiting the suggested 4 working days before i apply for the new version online saver.

ED

Please keep us posted how you fare (receiving the amount of interest you ancipate, etc).

Beate

So the rate of the new HSBC Online Saver has risen from 5.75% to 6%. What if you still have the old one with 5.25%? Has that risen by 0.25% too?

A&L Direct Saver is still better: I saw it has gone up from 5.8% to 6.1% which is actually a very good rise of 0.3%.