Northern Rock savings query

melbury

I have a fixed rate bond with NR which matures on 1st November. I was going to draw it all out and go elsewhere, but my husband says that NR is quite safe as long as no more than £35,000 is invested as if the very worst happened to NR that amount would be guaranteed. It would be a lot less hassle than opening a new account elsewhere and providing proof of ID etc etc.

What do you all think?

Aegis

I think Martin was quoted at some point saying that ytou SHOULD leave Northern Rock, but because of their lousy rates, not any sort of crisis. Best bet would be to shop around and see what you can get, then go to the best one for you if the extra interest is worth the extra hassle of moving.

Rafter

Maturing bonds generally pay around 0.4% less than bonds for new customers and there are some stonking new bond deals out there.

It may be a bit of hastle but you could probably make another £100 in gross interest per £10,000 of savings by switching which can't be sniffed at?

R.