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Egg not increasing their rates - boo!!!
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Following the change in Bank of England Base Rate from 5.50% to 5.75% on 5 July 2007, the rate for the Egg Cash ISA will remain unchanged. We have decided to maintain the great rate we launched with in April 2007 which still makes our rate one of the best. With an opening balance of just £1, the flexibility of adding to our Egg Cash ISA when you want to and no-notice withdrawals, we're sure you'll agree it's a great product. After all, isn't that what attracted you to it in the first place?
Doesn't this remind me of a certain dutch bank named ING... :rotfl: :rotfl: :rotfl:
Looks Like i have picked the right ISA after all with NS&I, but who knows whats going to happen in April 2008 when their guarantee ends.Had £80,000 in Savings - All GONE!!! BYE BYE:A Single, 27, Aspie, Gooner :A0 -
With an opening balance of just £1, the flexibility of adding to our Egg Cash ISA when you want to and no-notice withdrawals, we're sure you'll agree it's a great product. After all, isn't that what attracted you to it in the first place?
Err.. no.. it was the market-beating high interest rate, stoopid!:mad:poppy100 -
when I chose egg after a debacle with Barclays I have to admit I didn't see them passing on the rate rises. I knew there would be rate rises but I went with them anyway cos it was so easy to open as I already have various egga accounts, I was just so hacked off with the unbelievable hassle with Barclays I just wanted it sorted!
I'm happy with my money staying at the present rate for now. After the next rate rise, then I will start to think about transferring.
Also jammyB - you said the egg savings account hasn't kept up with the base rate changes but as far as I can tell it has? it is 5.75% at the mo?0 -
morg_monster wrote: »Also jammyB - you said the egg savings account hasn't kept up with the base rate changes but as far as I can tell it has? it is 5.75% at the mo?
To be fair that's higher than I thought it was, it must have been me not keeping up with their announcements! I should have said "base rate rises" in my previous post. It's still a good 0.45% less than Icesave though, and there seem to be lots of other savings accounts springing up offering better than that. It's pretty mediocre.0 -
The problems is NS&I doesnt allow transfer in. There is no other Bank that allows transfer in at a higher rate than 6.05%, unless I am mistaken.
5.96% from Kent Reliance, which allows transfers in, this will be going up to 6.21% on August 1st (the only slight disadvantage is their is no online access)
If you want an online account YBS pays 5.8%, if they pass on the 0.25% rise that will put them at 6.05% if you want to leave Egg on principle.If you don't like what I say slap me around with a large trout and PM me to tell me why.
If you do like it please hit the thanks button.0 -
Gordon_the_Moron wrote: »If you want an online account YBS pays 5.8%, if they pass on the 0.25% rise that will put them at 6.05% if you want to leave Egg on principle.
No sign of YBS increasing any rates after the latest base rate rise yet!0 -
ffacoffipawb wrote: »No sign of YBS increasing any rates after the latest base rate rise yet!
It'd be a good move for them to give the full 0.25% this time - it'd take them up there level with Egg.Time has moved on (much quicker than it used to - or so it seems at my age) and my previous advice on residential telephony has been or is now gradually being overtaken by changes in the retail market. Hence, I have now deleted links to my previous 'pearls of wisdom'. I sincerely hope they helped save some of you money.0 -
Gordon_the_Moron wrote: »5.96% from Kent Reliance, which allows transfers in, this will be going up to 6.21% on August 1st (the only slight disadvantage is their is no online access)
while KRBS currently doesnt have online access, worth mentioning that it will do withdrawals by BACS.
also KRBS has plans to become the internetbuilding society which is assumed will include online access.0 -
Transferred some of mine to KR some time ago - very painless process. As I normally put the £3k in as early as possible rather than drip-feed, I don't need online access so the postal-only bit doesn't bother me (and last couple of years have been NS&I antway).0
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Just transferred ISA from YBS, not too happy with them not raising rates or bothered about small loss of interest during transfer, it's the principal for me. Transferred to KRBS and must give them both credit for a lightning fast and trouble free transfer, about 10 days and not all working days.0
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