Santa's coming - with 8.50%

interest_Ted

Just noticed on the Chorley website - new Christmas (2008) account starts tomorrow.

Santa Saver. Max £ 150 per month. Variable interest rate currently 8.50%.

Haven't seen on Moneyfacts yet.

Ted

Milarky

They seem to have the details up here now

Terms of Investment

• Only one Santa Saver allowed per investor (minimum age of investor 18 years)
• The account deposit period commences on the 1st December and finishes on the 25th November each year
• Minimum opening balance £1
• Maximum total deposit allowed per month £150
• Multiple deposit transactions allowed subject to the above maximum monthly allowance
• Prior months missed deposits or shortfalls can be made up (advance deposits not allowed)
• NO withdrawals allowed
• The balance of the account will transfer automatically each year on the 26th November to a nominated account of your choice within the Society
• The nominated account must be current at the time of the Santa Saver application and remain open until this account is closed

free4440273

8.50 per cent: what a fantastic rate:)

bristolleedsfan

heres application form link

http://chorleybs.co.uk/images/stories/File/Forms/santa.pdf

Afahmaep

I don't begrudge the £100 I've kept in their Paid Up Share account at 2.25% Gross at all now.
8.00% Rovers Premiership RS (12x£250)
7.50% Galloway's RS (12X£250) and now
8.50% Santa RS (12X£150); and all running concurrently.

hyposmurf

That is a good rate but what happens say you start the account up and then they drop the rate as its variable.If it was fixed I'd be straight in there.

bristolleedsfan

hyposmurf wrote: »

That is a good rate but what happens say you start the account up and then they drop the rate as its variable.If it was fixed I'd be straight in there.

if that occurs people could pay the monthly minimum in ( assuming their is a monthly minimum)

doubt if chorley will drop the rate, the amounts involved are actually small.

LittleVoice

And if they are like Skipton last year, they may even increase. (Skipton Christmas Saver, which matured this week, also had a variable rate - the account started at 6.8% and, via 7.05% ad 7.3%, got to 7.55% gross.)

Afahmaep

After the Skipton 7.55% and now this 8.50% Santa Saver you might be unaware of 3 other Christmas Savers.

Firstly the MonmouthshIre CHRISTMAS SAVER. Launched on 05/11/07 and identical in rate to their 6.70% Regular Saver it is far more flexible allowing you to save ANY amount form £1 to £250 via cash, cheque or DD and as long as a monthly credit for the minimum £1 is made per month you get your bonus. Withdrawals are allowed only in December and January.
My Rating 7/10
http://www.monbs.com/content.php?nID=329

Secondly the Scarborough BS CHRISTMAS SAVER. For locals only as it branch operated only you can open with just £10 whereupon you get an immediate credit of £5. Leave it till it matures on 01/11/08 without making another payment and you get a whopping return of over 50%!! Seriously though there is no monthly payment necessary just a ceiling of £2000 on any payments made. Like the Monmouthshire BS above any combination of coins, notes and cheques is allowed. Rate is 6.00% for members and 5.75% for new members.
My rating 6/10
http://www.scarboroughbs.co.uk/savingsandinvestments/products/christmassaver.html

Thirdly the Dudley BS FESTIVE SAVER. This must have the most stupendous Bonus Rate at the moment. A whopping 4.95% for saving in any 11 out of 12 months. Add that to the normal rate and you get .......................................................................................................................................................5.25%.
Yes. The normal savings rate on this account is a mere 0.30%!!! The Bonus Rate is 16.5 times the Standard Rate!! This account is for locals only
My rating 2/10
http://www.dudleybuildingsociety.co.uk/savefestive.htm

djbd1973

This sounds good. Thanks for the info.

Wait till I tell Father Christmas what Santa's up to!!

mistermoneysaver

Does anyone know what the minimum investment per month actually is on this account?