0.20% rate rise for Britannia BS Regular Saver

ED

Britannia Building Society are raising by 0.20% (not the full 0.25%) the rate on their variable Regular Saver, effective June 2nd. At 5.40% gross it hardly seems worth the bother of making monthly deposits.

bristolleedsfan

ED wrote: »

Britannia Building Society are raising by 0.20% (not the full 0.25%) the rate on their variable Regular Saver, effective June 2nd. At 5.40% gross it hardly seems worth the bother of making monthly deposits.

ive had it since launch, min 20.00 a month, anniversary is saturday, i opened a direct saver last week so will close reg saver after weekend and chuck closing balance in tescos till 1st july then fund some july reg savers

imo those who get the yearly "reward thing" have paid for their reward with poor interest rates imho, they even got the nerve to only pass on 0.20% on what was a poor paying R/S anyway :mad:

ED

I, too, intend to close my Regular Saver account on its anniversary. Originally it offered a highly competitive rate, but for several years now it has been uncompetitive. Long ago, I wrote to the Society urging a rate boost.

Their 7.50% 1 Yr Fixed Rate Regular Saver is a fairer account, but only launched last autumn. I guess it's now a closed issue. I see the Society no-longer lists it under the ''Regular Savings'' heading.

Direct Saver now at 5.50% for £100+ seems OK to maintain membership. Sad, though, if the Society no-longer aims to encourage regular, monthly saving.

RayWolfe

ED wrote: »

Their 7.50% 1 Yr Fixed Rate Regular Saver is a fairer account, but only launched last autumn. I guess it's now a closed issue. I see the Society no-longer lists it under the ''Regular Savings'' heading.

They closed it pretty sharpish after the opening ... first time they have been competitive for years!