Virgin money Double take ISA rate cut 2 June

epm-84

Be_Happy said:

DT Issue 10 saver dropping from 1.5% to 1.01% on 16 June.  Still good in today's interest climate.

Yes still one of the best interest rates.  Although, one thing to consider is it's no longer higher than some of the competitors who offer more flexible withdrawal terms.

It does look like Virgin Money are now lowering the rates of withdrawn products to match their current offering, opposed to what they were doing a few years back when the withdrawn products ended up with interest rates lower than the products currently being offered.  That might cost them more in interest but it does mean reduced admin costs as people won't close a withdrawn product and then open a new one at the same time.

RG2015

Be_Happy said:

DT Issue 10 saver dropping from 1.5% to 1.01% on 16 June.  Still good in today's interest climate.

I am afraid that I cannot agree with you here that it is still good in today’s climate. This a very restricted access account paying less than unlimited access accounts such as Marcus and Ford Money.

For me to retain the double take it would need to exceed these at about 1.10%

Be_Happy

RG2015 said:

Be_Happy said:

DT Issue 10 saver dropping from 1.5% to 1.01% on 16 June.  Still good in today's interest climate.

I am afraid that I cannot agree with you here that it is still good in today’s climate. This a very restricted access account paying less than unlimited access accounts such as Marcus and Ford Money.

For me to retain the double take it would need to exceed these at about 1.10%

Since restricted access suits me for this account, I would not be tempted to move to Marcus whose flexible saver is offering 1.05% or to Ford Money whose flexible saver is not currently on sale.

where_are_we

Be_Happy said:

RG2015 said:

Be_Happy said:

DT Issue 10 saver dropping from 1.5% to 1.01% on 16 June.  Still good in today's interest climate.

I am afraid that I cannot agree with you here that it is still good in today’s climate. This a very restricted access account paying less than unlimited access accounts such as Marcus and Ford Money.

For me to retain the double take it would need to exceed these at about 1.10%

Since restricted access suits me for this account, I would not be tempted to move to Marcus whose flexible saver is offering 1.05% or to Ford Money whose flexible saver is not currently on sale.

DT issue 11 down to 1.01% on 16/6 - so looks like most legacy DT issues down to 1.01% on 16/6. I will move everything out but for £1 to keep account open - who knows whether 1.01% might be good in the future - you can still deposit money as I understand it?  BOS vantage and Club Lloyds current accounts (plus you get lifestyle benefits) still good for 1.2% on £5000 but for how long?

RG2015

where_are_we said:

Be_Happy said:

RG2015 said:

Be_Happy said:

DT Issue 10 saver dropping from 1.5% to 1.01% on 16 June.  Still good in today's interest climate.

I am afraid that I cannot agree with you here that it is still good in today’s climate. This a very restricted access account paying less than unlimited access accounts such as Marcus and Ford Money.

For me to retain the double take it would need to exceed these at about 1.10%

Since restricted access suits me for this account, I would not be tempted to move to Marcus whose flexible saver is offering 1.05% or to Ford Money whose flexible saver is not currently on sale.

DT issue 11 down to 1.01% on 16/6 - so looks like most legacy DT issues down to 1.01% on 16/6. I will move everything out but for £1 to keep account open - who knows whether 1.01% might be good in the future - you can still deposit money as I understand it?  BOS vantage and Club Lloyds current accounts (plus you get lifestyle benefits) still good for 1.2% on £5000 but for how long?

The latest DT non ISA issue 17 is now paying 0.75%. Ouch!

https://uk.virginmoney.com/savings/products/double_take_e_saver_issue_17

kuepper

new DT ISA down to 0.75%, it's becoming a race to the bottom

badger09

I wonder how long it will be before all the legacy accounts follow suit