Furness BS Regular Savings account rate increased - 6.20%

Kazza242

Furness Building Society will increase the rate paid on their Regular Savings account, by the full 0.25%, from 5.95% to 6.20%, w.e.f. 1st June 2007.

This account has a 5 year term and requires monthly deposits between £50 - £200.

The new rate is shown on Moneyfacts, here.

Milarky

Last time they 'only' increased the rate by 0.20%, so that's better news this time around.

Has an unusual withdrawal condition for a regular saver account - 3% of the amount withdrawn rather than 1 free per year.

s71hj

Just received application pack. As I read it, you could open it with £100, then set up a monthly standing order for £1, as I see nothing about a minimum subscription. When I looked into it last year, it was min £50 per month I think. Am I missing something?

Milarky

s71hj wrote: »

Just received application pack. As I read it, you could open it with £100, then set up a monthly standing order for £1, as I see nothing about a minimum subscription. When I looked into it last year, it was min £50 per month I think. Am I missing something?

You're not. They have "just recently" relaxed some of the account restrictions and I've been told the minimum is now £10 for 'locals' and 'out-of-area' alike. (I thought the local min was £20 but I could be wrong about that.) It's not mentioned on their current website so I phoned up to check.

They also seem to have a new 6.25% (variable) 1 year regular saver (lower than this account at 6.45%) allowing £100-£1000 per month. See here

Bit of good news eh?

bristolleedsfan

Milarky wrote: »

You're not. They have "just recently" relaxed some of the account restrictions and I've been told the minimum is now £10 for 'locals' and 'out-of-area' alike. (I thought the local min was £20 but I could be wrong about that.) It's not mentioned on their current website so I phoned up to check.

They also seem to have a new 6.25% (variable) 1 year regular saver (lower than this account at 6.45%) allowing £100-£1000 per month. See here

Bit of good news eh?

drop to 10.00 a month minimum for non locals was excellent news imo. :j

s71hj

Account leaflet says nothing about a monthly minimum, as long as you pay in something, so do we reckon you can set up an s/o for £1.00 a month safely? Anyone been brave enough to try yet!

bristolleedsfan

s71hj wrote: »

Account leaflet says nothing about a monthly minimum, as long as you pay in something, so do we reckon you can set up an s/o for £1.00 a month safely? Anyone been brave enough to try yet!

reason account leaflet states no minimum amount is so furness can vary the monthly minimum for non locals as and when it chooses.

when i phoned asking for application few months ago im sure i was told the minimum a month was 10.00 otherwise id have done 1.00 a month.

furness provide a freephone no on its webpage go on give them a call.

http://www.furnessbs.co.uk/

s71hj

bristolleedsfan wrote: »

reason account leaflet states no minimum amount is so furness can vary the monthly minimum for non locals as and when it chooses.

when i phoned asking for application few months ago im sure i was told the minimum a month was 10.00 otherwise id have done 1.00 a month.

furness provide a freephone no on its webpage go on give them a call.

http://www.furnessbs.co.uk/

I did just that and she said "there isn't really a minimum, so yes it'd be a pound". Took her name for my records!