Nationwide Flex Regular Saver 13th payment

pafpcg

Assuming, of course, that it's still available at 5% on 1st December.......

My Flex Regular Saver matures on 30th November (according to the letter I received today) and I too can open another account on 1st December, but being the anniversary of the original announcement, I fear that it'll be the day Nationwide announce a rate cut. I think I'll stay up late on the 30th and try to open a new account at one minute past midnight in the hope of beating any announcement!

Zanderman

pafpcg wrote: »

Assuming, of course, that it's still available at 5% on 1st December.......

My Flex Regular Saver matures on 30th November (according to the letter I received today) and I too can open another account on 1st December, but being the anniversary of the original announcement, I fear that it'll be the day Nationwide announce a rate cut. I think I'll stay up late on the 30th and try to open a new account at one minute past midnight in the hope of beating any announcement!

I don't think the rate for this saver is fixed (it's not like most regular savers). So even if it's still 5% when you open a new one they could cut the rate at any time. Any rate cut announcement will, I guess, affect all accounts, whenever opened.

veryintrigued

pafpcg wrote: »

Assuming, of course, that it's still available at 5% on 1st December.......

My Flex Regular Saver matures on 30th November (according to the letter I received today) and I too can open another account on 1st December, but being the anniversary of the original announcement, I fear that it'll be the day Nationwide announce a rate cut. I think I'll stay up late on the 30th and try to open a new account at one minute past midnight in the hope of beating any announcement!

I received this maturity letter too.

I really don't think that they would state what they do (in the first two paras of the 'Consider your saving options' section of the letter) if they were considering pulling the rate in the next month.

Maybe...

Glen_Clark

I got the maturity letter today. Mine becomes a 'Flexclusive Issue 8' account on 4th December, which attracts 0.5% interest. I can then open another 'Flexclusive Regular Saver' at 5%. I can't open it yet because you can only be the first named account holder on one 'Flexclusive Regular Saver.'
I see no reason why I couldn't pay another £500 in on 1 December, making the balance £6500. But to get the extra interest on £500 for 3 days I shan't bother.

Joe_Bloggs

The lesson to savers from the powers that be, is that you should splurge in other areas rather than save with savings institutions.
To encourage this the 'power' has simultaneously commanded the end of competitive interest rates relative to inflation from all savings institutions within their grip.
Is this a fact or just reality.
J_B.

roddydogs

The answer to the original OP must be "No"!

Glen_Clark

Joe_Bloggs wrote: »

The lesson to savers from the powers that be, is that you should splurge in other areas rather than save with savings institutions.
To encourage this the 'power' has simultaneously commanded the end of competitive interest rates relative to inflation from all savings institutions within their grip.
Is this a fact or just reality.
J_B.

Its just short termism to give the economy a shot of heroin before the next election. Osborne wanted people to spend their savings, he even made it so they could access their pensions early and spend them despite the looming pensions crisis, so he could claim the credit for his so called 'Growth' and 'Recovery'
Problem is the money was going to the wealthy who were already spending as much as they could. So it went on second homes adding to the housing crisis, or the balance of payments crisis and crash in the pound when they spent it abroad.

2010

When mine becomes a Flexclusive Issue 8 on 5th Dec I`ll tranfer the money to the Loyalty saver and then open a new 5% flex reg saver and feed it from the Loyalty.

colsten

2010 wrote: »

When mine becomes a Flexclusive Issue 8 on 5th Dec I`ll tranfer the money to the Loyalty saver and then open a new 5% flex reg saver and feed it from the Loyalty.

Are all your 3% current accounts full?

ceredigion

roddydogs wrote: »

The answer to the original OP must be "No"!

Based on ?