B&B 6 Month Fixed Term eBond

wombat42_2

What does this mean:

http://www.bradford-bingley.co.uk/savings/product/ebond15.asp

"The account matures into a Bradford & Bingley eBond Maturity Account. This pays a variable rate of interest, equal to the Bank of England Base Rate."

What is this Bradford & Bingley eBond Maturity Account ?I would expect to be able to have the money back in my Esaver account afer 6 months not some weird eBond Maturity Account.

PBA

Basic translation into English:

"If you forget to tell us what to do with the money when your bond matures, we'll pay you next to no interest until you get round to telling us."

wombat42_2

PBA wrote: »

Basic translation into English:

"If you forget to tell us what to do with the money when your bond matures, we'll pay you next to no interest until you get round to telling us."

Are you sure about this or just speculating ?

Old_Slaphead

wombat42 wrote: »

Are you sure about this or just speculating ?

Probably a slight exaggeration but maturity accounts don't usually offer very competitive rates (and why should they if folks can't be bothered to look after their money by giving the bank clear maturity instructions?)

Secret_Wookie_2

The bit that says "pays equal to the bank of england base rate" gives it away.

You get 5.75%, which to be fair is very good for a holding account.