Aldermore - increase rates

melbury

I had an email today from Aldermore Bank saying they have increased rates on 1, 2 and 3 year fixed rate accounts.

http://www.aldermore.co.uk/personal/savings-accounts/

Hopefully this is a sign of things to come from other banks.

PeacefulWaters

melbury wrote: »

I had an email today from Aldermore Bank saying they have increased rates on 1, 2 and 3 year fixed rate accounts.

http://www.aldermore.co.uk/personal/savings-accounts/

Hopefully this is a sign of things to come from other banks.

I don't think you'll find Aldemore leading the market up.

melbury

Maybe not, but it is still about the best around at the moment.

Archi_Bald

melbury wrote: »

Maybe not, but it is still about the best around at the moment.

Not so. Some quick shopping suggests they are amongst the best but not the best http://www.moneysupermarket.com/savings/fixed-rate-bonds/?goal=SAV_FIXEDRATEBONDS

And for many people, there are better rates in current accounts. Why fix for 3 years at 2.35% (or even 2.5% with the best) when you can get 3, 4 and 5% on instant access?

Thrugelmir

melbury wrote: »

Hopefully this is a sign of things to come from other banks.

Simply raising deposits in order to lend more out perhaps. After all is the traditional way that banks work.