Birmingham Midshires new internet bond

moneylover

One year rates seem to be creeping up again, first Nottingham BS then ICICI and now Birmingham Midshires...
Birmingham Midshires
ONE YEAR INTERNET FIXED RATE BOND will be launched w.e.f. 27.10.07: a one year term internet operated account with a minimum investment of £1 paying 6.86% on maturity (6.65% monthly). Source e-Moneyfacts.
As you would expect, nothing on the website yet.

Jazzking

I'm looking to get this since ICICI are taking their time to sort out their hiSave account that I was going to use to move into their 1 year fixed rate bond at 6.85% and after reading reviews I might just give them a miss for my stooze pot...

Having not applied for a limited fixed rate bond before before, is it a case of get it while you can - i.e. will it be available from 00:01 tonight?

Thanks in advance

jantoby

I applied for this Bond online today. Already have a Bond with them and my linked bank account is the same one, but I can't deposit into the new Bond for 2 WEEKS because "the linked account has to be verified". They've already done that for the earlier Bond, so why on earth do I have to miss out on 2 weeks' interest?

I'm a novice to all this. Am I just being naive in thinking things shouldn't take so long?

moneylover wrote: »

One year rates seem to be creeping up again, first Nottingham BS then ICICI and now Birmingham Midshires...
Birmingham Midshires
ONE YEAR INTERNET FIXED RATE BOND will be launched w.e.f. 27.10.07: a one year term internet operated account with a minimum investment of £1 paying 6.86% on maturity (6.65% monthly). Source e-Moneyfacts.
As you would expect, nothing on the website yet.

Geoffo_M

A separate direct debit has to be set up for each bond. Although it is linked to the same bank, it will end up as 2 direct debits. They say a direct debit takes about 10 days to set up. If the bond is pulled during those 10 days, they will still honour your account and you will be able to transfer your money.Geoff