MSE News: Savings rates have barely risen TWO WEEKS after base rate rise - MSE data reveals

Yorkshire_Pud

Coventry BS limited access saver interest rate is increasing to 1.55% on 1st September. So a .15% increase. Probably harder for the top payers to pass on a BOE base rate rise in full as they are already paying more than they wanted to/can afford, just to attract new business;)

oldwally

Yorkshire_Pud wrote: »

Coventry BS limited access saver interest rate is increasing to 1.55% on 1st September. So a .15% increase. Probably harder for the top payers to pass on a BOE base rate rise in full as they are already paying more than they wanted to/can afford, just to attract new business;)

I agree,but......CBSs rates have been up and down like a fiddlers elbow in recent weeks months,looks like they over did it,following the previous rate rise and had to claw them back abit....?

Masomnia

Yorkshire_Pud wrote: »

Coventry BS limited access saver interest rate is increasing to 1.55% on 1st September. So a .15% increase. Probably harder for the top payers to pass on a BOE base rate rise in full as they are already paying more than they wanted to/can afford, just to attract new business;)

Interesting. If they're already the top payer then in theory they shouldn't need to raise the rate to attract large amounts. Although maybe people want more of a premium for it only allowing 3 withdrawals.

Bodes well for other accounts though I suppose.

Yorkshire_Pud

oldwally wrote: »

I agree,but......CBSs rates have been up and down like a fiddlers elbow in recent weeks months,looks like they over did it,following the previous rate rise and had to claw them back abit....?

I think so too. Last BOE rate rise they increased my savings account by the full 0.25% as did YBS. Then a few weeks later they reduced the rate by 0.15% after other institutions hadn't increased rates by much or anything. So now they will give me another 0.15% so back to where I was after the first BOE rate rise!;)

Masomnia

According to this the rate on the limited access saver won't be going up.

oldwally

Masomnia wrote: »

According to this the rate on the limited access saver won't be going up.

As Pud from Yorks said,its going up on Sept Ist,see above

Yorkshire_Pud

Masomnia wrote: »

According to this the rate on the limited access saver won't be going up.

Double checked and it appears the new and unimproved limited access saver (2) is sticking at 1.4% whilst the original closed to new customers version is going up.

Well CBS you can get #<]+$€>?._:)

Masomnia

Yorkshire_Pud wrote: »

Double checked and it appears the new and unimproved limited access saver (2) is sticking at 1.4% whilst the original closed to new customers version is going up.

Well CBS you can get #<]+$€>?._:)

Bar stewards.

Still I suppose looking after your existing customers is a good thing!!