Shawbrook Bank reducing their fixed rate bond rates...

Ifts

Received this email from Shawbrook Bank today:

With effect from 11:30am tomorrow Wednesday 9th December, we will be making the following changes -

Products being withdrawn from sale:

1 Year Fixed Rate Bond Issue 33
paying 2.15% AER (fixed/annual)
Minimum investment amount £1,000

18 Month Fixed Rate Bond Issue 12
paying 2.35% AER (fixed/annual)
Minimum investment amount £5,000

2 Year Fixed Rate Bond Issue 34
paying 2.45% AER (fixed/annual)
Minimum investment amount £1,000

Products being made available for sale:

1 Year Fixed Rate Bond Issue 34
paying 2.05% AER (fixed/annual)
Minimum investment amount £1,000

18 Month Fixed Rate Bond Issue 13
paying 2.15% AER (fixed/annual)
Minimum investment amount £5,000

2 Year Fixed Rate Bond Issue 35
paying 2.20% AER (fixed/annual).
Minimum investment amount £1,000

​You can apply online for the new product issues from 11:30am tomorrow Wednesday 9th December. The 1 Year Fixed Rate Bond Issue 33, 18 Month Fixed Rate Bond Issue 12 and the 2 Year Fixed Rate Bond Issue 34 will remain open for additional funding by existing customers until close of business on Friday 18th December.

Please note: These changes do not impact existing accounts already open which continue at their current rates. Applications for the products due to be withdrawn that are already in progress will receive the current rates. The new rates will apply to new online applications received from 11:30am tomorrow Wednesday 9th December and new postal applications for the new issues from Thursday 10th December.

smjxm09

Thanks for the info . I opened an account today and funded it will a faster payments transfer which hopefully will go through tomorrow.

Ifts

Its OK, you can still open any of the fixed rate bonds (at the old higher rates) online before 11.30am today and you have until close of business on Friday 18th December to pay money in to them.