Stroud & Swindon BS launch 6.25% 1 year E-bond

Kazza242

Stroud & Swindon Building Society have launched a new E-bond paying a fixed rate of 6.25%, which matures 3rd June 2008. The minimum deposit is £5,000 and the maximum £500,000. Funds must be deposited by June 1st 2007.

More details, here.

cells

you can get 6.05% in an instant access savings account!

and if the base rate goes up again as is predicted, that instant access savings account will pay more!

baby_boomer

Don't you mean, it might pay more if the base rate goes up again?

bristolleedsfan

baby_boomer wrote: »

Don't you mean, it might pay more if the base rate goes up again?

yep thats what the poster meant

Kazza242

cells wrote: »

you can get 6.05% in an instant access savings account!

and if the base rate goes up again as is predicted, that instant access savings account will pay more!

Yes, I know which is why I've never fixed my taxable savings. However, you must bear in mind that the MSE forum is used by a large number of different people, some of which prefer to put their lump sum of cash into fixed rate bonds.

I guess some people like the certainty of knowing how much interest they are going to receive. Either way fixed rate offerings can help to indicate which way interest rates are likely to go, which is why I think it is important to post the most competive fixed rate offerings.

bristolleedsfan

Kazza242 wrote: »

Yes, I know which is why I've never fixed my taxable savings. However, you must bear in mind that the MSE forum is used by a large number of different people, some of which prefer to put their lump sum of cash into fixed rate bonds.

I guess some people like the certainty of knowing how much interest they are going to receive. Either way fixed rate offerings can help to indicate which way interest rates are likely to go, which is why I think it is important to post the most competive fixed rate offerings.

i agree

steady__eddie

Sounds to me that they might be trying to retain some funds from their 7% Regular Savers which are maturing like flowering dandelions at the moment ?

bristolleedsfan

steady__eddie wrote: »

Sounds to me that they might be trying to retain some funds from their 7% Regular Savers which are maturing like flowering dandelions at the moment ?

stroud and swindon have been offering fixed rate bonds and capped bonds for years, increasingly stroud and swindon are aiming their marketing at larger savers, this appears to be stroud and swindon prefered method of attracting large amount of funds, if stroud and swindon were aiming merely to retain maturing reg saving accounts funds stroud and swindon could have merely launched an account paying 6.25% for maturing reg saving accounts