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BOE rate rise but Chelsea/YBS reduces rates!
nilrem_2
Posts: 2,188 Forumite
I had a fixed rate bond with Chelsea which matured end of Nov but taking into account the BOE rise I thought I would wait a while to see if the put fixed rates up before reinvesting but to my astonishment they have put them down! Yorkshire BS who owns them have done the same.
before the rate rise both Chelsea and YBS were offering -:
1 year 1.40%
2year 1.65%
3year 1.80%
Now YBS are offering
1year 1.25%
2year 1.50%
3 year 1.65%
Whilst Chelsea have just 1year at 1.25%
So BOE increases the rate by 0.25% whilst YBS reduce theirs by 0.15%
What a fool I was staying loyal to them, I shall now be moving elsewhere.
before the rate rise both Chelsea and YBS were offering -:
1 year 1.40%
2year 1.65%
3year 1.80%
Now YBS are offering
1year 1.25%
2year 1.50%
3 year 1.65%
Whilst Chelsea have just 1year at 1.25%
So BOE increases the rate by 0.25% whilst YBS reduce theirs by 0.15%
What a fool I was staying loyal to them, I shall now be moving elsewhere.
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