Stroud And Swindon 7.05% Bond

Leighthal

johnydeath wrote: »

This Stroud & Swindon looks very interesting as a stop gap while waiting to see what happens.

I'm very tempted to pop some in for a year. It might be worth opening one at the minimum amount so you have the facility there 'if' rates do not increase and you need it later to fall back on.

Thoughts?

I think you can only add to this account while the offer is still available.Therefore if they pull it in the next couple of weeks you will be stuck at whatever the balance was at the time.

Old_Slaphead

johnydeath wrote: »

This Stroud & Swindon looks very interesting as a stop gap while waiting to see what happens.

I'm very tempted to pop some in for a year. It might be worth opening one at the minimum amount so you have the facility there 'if' rates do not increase and you need it later to fall back on.

Thoughts?

I don't think this offer will be available for very long so it may become 'closed' before you get chance to topup

johnydeath

They quote:

'You may open the bond with a minimum of £1 and add to the account, up to a maximum investment limit of £500,000, but only whilst the issue is still available.'

If 'the issue' is as you say 'the offer' then it may be a little less flexible. I wonder if they will give you notice of when 'the issue' will be withdrawn? I may call them.

Edit: They have a certain amount of cash to play with, when it is allocated the offer is withdrawn and no further investment from new or existing holders will be allowed.

I don't think it will be long before it is gone.

free4440273

anybody have any prior dealings with SS? are they as reliable as, say, nationwide? thanks all mouth watering rate on offer - i'm after the two/three yr monthly option.

Steve_xx

Does this mean that if you put cash in today that they wont start paying interest until October 2? Or does it mean that there will be two lots of interest paid, ie once on Oct 2nd then on 2 Dec 2008?

Interest is calculated on a daily basis and will be credited at midnight (commencing 1st October 2007) and up until midnight on 2nd December 2008

Old_Slaphead

Doesn't really matter 'cos the AER is the true rate they pay so, in the (very unlikely) event that they didn't pay any interest until 2/10/07 they'd have to pay more over the remainder of the term compensate and bring the overall rate up to 7.05%pa for the full term.

info_addict

Just to let you know, when you apply online you need your driving licence and passport details for verifcation.

What a pain the passport bit is, having to count all those "<"s. Mine had 14, and the boxes on the form don't correspond to the passport layout, as the passport is one continious line. It's the very bottom line by the way.

Still a minor bit of work for a good rate.

Steve_xx

info_addict wrote: »

Just to let you know, when you apply online you need your driving licence and passport details for verifcation.

What a pain the passport bit is, having to count all those "<"s. Mine had 14, and the boxes on the form don't correspond to the passport layout, as the passport is one continious line. It's the very bottom line by the way.

Still a minor bit of work for a good rate.

You dont need to put that detail if you choose not to. It says on their site that they are trialling another way of verifying your detail. I think they'll be meaning via the electoral roll. If all goes ok with that they probably wont require other detail?

alared

The way it reads to me is,you open your account and then the interest between the opening date until the 1st Oct is then added the next day (2nd Oct)
It`s then left to run `til 2nd Dec 2008 when all the interest is added.

Does this sound right?

nilrem_2

info_addict wrote: »

Just to let you know, when you apply online you need your driving licence and passport details for verifcation.

Well that would rule me out then, I have never had a passport and not having been abroad or intending to I don't need one!