Great deal from Derbyshire BS (Limited offer)

mary

deemy2004 wrote:

3. YOU DO LOSE your bonus if you close your account early.

According to the small print, which I'll have to reproduce as I can't seem to copy and paste, it says:

4.2 You can close your account part way through an account year and subject to special condition (4.3) below you will qualify for interest at the bonus rate up to the date of closure of your account if you have, during the account year up to the date of closure, complied with the following
a) made no withdrawals and
b) made the qualifying payments under special condition 2.3 in all but one of the months during which your account was open.

2.3 says You can vary the amounts of your monthly paymentsbut they must be at least £10 and not more than £1,000.

ReportInvestor

That seems to cover all bases .

deemy2004

yep... i stand corrected it won't effect the bonus on account closure... so a safter bet

ReportInvestor

The Derbyshire - How fair is that? :rotfl: :T :A

steady__eddie

If anyone is concerned about interest rates falling shortly on regular savings accounts, have a look at Principality. 6.75% FIXED for 12 months. I know that it's relatively short term and the £1 account that accompanies it is pathetic but make hay while the sun shines.

mary

Thanks, but I've just already opened that one too! Excellent rate, wish there were a few more like it!

Kazza242

deemy2004 wrote:

yep... i stand corrected it won't effect the bonus on account closure... so a safter bet

I told you there wouldn't be any loss of interest in the event of a customer-instigated account closure. I always read the terms and conditions of any product I sign up to, which is why I was adamant in my previous post that there would be no loss of interest to the customer.

Frankly, I doubt the Derbyshire would drop their rates in August - without a change in BOE base rate. It wouldn't make sense, especially now the regular savings account market it so competitive. As a good moneysaver , I check the interest rates on all my savings accounts regularly and will switch them if they become uncompetitive.

deemy2004

allright already ! you were right I was wrong
Well done !

steady__eddie

Mary, just in case you had missed it, Dudley are still doing 7% for 12 months, £30 - £300/month I believe. You have to do a personal visit to a branch or agency though, you could always visit the zoo if you went.

mary

Many thanks for the tip. Wasn't aware of the Building Society at Dudley. Good rate. About an hour's drive up the M5, so not too far I'll take the kids to the zoo with me.