Skipton Building Society

ivormonee

Although the rates have dropped they still seem to be better than what's available elsewhere. There's nothing that close to the 0.65% rate; the next best is 0.50% and even that comes with strings attached.

surreysaver

colsten said:

It had to happen. Rate of Bonus Saver Issue 7 drops from 1.2% to 0.65% (var) on 17 March 2021. Still one of the best legacy instant access rates, though for me it will be back to Al Rayan at 1.02% whilst that one lasts.

Also, the 0.65% includes a 0.5% bonus which lasts until September, so the underlying rate is a mere 0.15%.

Glad I've been opening Regular Savers at 1%, then!

colsten

ivormonee said:

Although the rates have dropped they still seem to be better than what's available elsewhere. There's nothing that close to the 0.65% rate; the next best is 0.50% and even that comes with strings attached.

Just to be clear: this 0.65% account is a legacy account, not available to people who haven't already got it.

Moneybear

Ah I was just about to find the skipton thread and update everyone but looks like people got here beforehand! It is a shame but was expected to happen. I received a letter today dated 1st March 2021. 

where_are_we

I am glad we opened all those 1% RS`s in the last few months when some were saying not to bother. As well as the 1.2% interest rate, Skipton BS7 had other attributes eg ability to set up quasi standing orders and email confirmation of payments going in and out. We have to move on. Our first foray into Premium bonds may be imminent - lets see if Mr Sunak today has anything for savers!

ivormonee

where_are_we said:

lets see if Mr Sunak today has anything for savers!

Possibly said in jest but actually there is some truth in this; I think that most providers have been waiting to see what's in the budget before making any decisions as to their savings rates. I have a feeling therefore that after today we will start to see a more pronounced direction of travel for rates; not necessarily up, but possibly so, depending on providers' interpretation of the budget and in particular the forecasts of the OBR or their statement.

bristolleedsfan

where_are_we said:

We have to move on. Our first foray into Premium bonds may be imminent - lets see if Mr Sunak today has anything for savers!

https://www.dailymail.co.uk/money/saving/article-9312409/Green-savings-account-NS-rate-pay.html

Speculator

BOS vantage/Club Lloyds beats this now (from 17th March) on £5000 balance.

Notepad_Phil

where_are_we said:

I am glad we opened all those 1% RS`s in the last few months when some were saying not to bother. As well as the 1.2% interest rate, Skipton BS7 had other attributes eg ability to set up quasi standing orders and email confirmation of payments going in and out. We have to move on. Our first foray into Premium bonds may be imminent - lets see if Mr Sunak today has anything for savers!

surreysaver said:

colsten said:

It had to happen. Rate of Bonus Saver Issue 7 drops from 1.2% to 0.65% (var) on 17 March 2021. Still one of the best legacy instant access rates, though for me it will be back to Al Rayan at 1.02% whilst that one lasts.

Also, the 0.65% includes a 0.5% bonus which lasts until September, so the underlying rate is a mere 0.15%.

Glad I've been opening Regular Savers at 1%, then!

Mrs Notepad and myself have been playing the regular saver game for a while now but only with those that were paying decent rates i.e. at that time those paying greater than 2%. But then last year just before interest rates plummeted we opened a big bunch of 2% regular savers which in their new guise are now paying only 1%. I had thought that we'd ignore them at 1% but now that the Skipton 1.2% is gone they don't seem quite so bad.

[Deleted User]

Speculator said:

BOS vantage/Club Lloyds beats this now (from 17th March) on £5000 balance.

I still get £5 a month bonus from the Halifax for keeping a minimum of a £5000 balance. I think that beats the one quoted though no idea if it is still available.