FlexClusive Saver 5 interest rate drop

Archi_Bald

Going from 2% to 1.2% on October 1.

ctdctd

Ouch - I was hoping they wouldn't notice that one :mad:

It's been handy for ready cash!

Now it looks like the 15 year Loyalty Saver is the next best at 1.5% after Oct 1st - I have issue 4 so I think that's right?

ManAtHome

Dunno - on another thread was reported that the 15 year LS issue 1 was going down, but no change on a 1 year issue 4. I have the 15y issue 4 and not had anything yet (did get the reduction letter for eSavings Plus earlier this week).

bristolleedsfan

ManAtHome wrote: »

Dunno - on another thread was reported that the 15 year LS issue 1 was going down, but no change on a 1 year issue 4. I have the 15y issue 4 and not had anything yet (did get the reduction letter for eSavings Plus earlier this week).

http://forums.moneysavingexpert.com/showpost.php?p=66494746&postcount=92

badger09

Archi_Bald wrote: »

Going from 2% to 1.2% on October 1.

Oh no

Got a Close Bros £20k FR maturing next week and was going to use this as a holding account until I decide whether to spend it on a round the world cruise, some bling, a toyboy - or just fritter it away

Glad I decided to hang onto the old Monmouthshire Flexible Saver account now - still paying 1.75%, though that probably won't last much longer. Must dig out the T&C and check whether its still limited to £12k per annum :cool:

Ken68

With the 2.5% Nationwide Regular Saver being flexible, could this be used as a feeder ? Put in £1000 p.m.... take out £500 .

Archi_Bald

I don't expect the 2.5% last for much longer, either. But I don't understand what you mean by put in £1K take out £500 - can you elaborate?

Ken68

Or let it build up at 2.5%, and draw some out whenever.
The rate was set on Aug 1.

Archi_Bald

What are you talking about?

Ken68

I thought Archie that a regular saver at 2.5% could also be used as a holding account, as long as withdrawals are allowed. Are you saying it couldn't be done.

Archi_Bald

The problem is that you can only put £1,000 a month into the Nationwide Regular Saver. That is good if all you have is £1000 though there are many accounts with better rates (unless you maxed them all already), and it is not much use for people who have tens of Ks in their FlexClusive Saver 5 (which this thread is about).