Notice Accounts

allegro120

SirHugo said:

refluxer said:

SirHugo said:

UPDATE - 
I think the penny may have dropped - is my current rate showing at 4.98% because my interest frequency is Monthly?

Yes, I would have thought so. While AER is useful for comparison purposes when choosing accounts, it's obviously not the actual rate applied to your account if interest is credited monthly. I have a number of accounts that pay interest monthly and state the gross figure (not AER) in online banking.

4.98% gross annually and credited monthly = 5.10% AER. There's a handy AER calculator here.

Thanks for reply. Yes that must be the case - in fact I've just received a letter from them stating my interest rate is 4.98%, variable. They never state whether it is AER or gross though!
And thanks for the AER calculator link - just what I was looking for!

I also opened the DF Capital 90 Day saver the other day - slightly higher rate - 5.11% AER, but a much better online user experience. I have some savings maturing soon so I'll probably fund this rather than the Vanquis account.
I'm expecting a rate reduction any day now though.

My DF 180 Day is reducing from 5.4% to 4.75% on 15th April.  I've given the closure notice to match that date, I didn't think that 4.75% will be an appropriate rate for a 6 month notice account in April next year, it might turn out to be a wrong decision

allegro120

slinger2 said:

slinger2 said:

RCI Bank 95-day account down from 4.95% to 4.70% as of 15 Nov for new customers. 14-day notice account also down, from 4.65% to 4.55%.

I suppose those of us already with accounts will be notified of a similar reduction.

Email today from RCI giving 109 days notice of a rate reduction on my account (10 Mar 2025) to 4.70%. Only got a few pence in there.

Received the same today. I have £1.59 there. I’m emailing to let you know the interest rate on your RCI Bank 95 Day Notice Account is decreasing as of 10th March 2025. The current rate and new rate payable on your account are detailed below for your information.

Current rate   New rate   4.95% AER Gross   4.70% AER Gross Variable Annual / 4.60% Gross Variable Monthly

smiley2085

BLME 90 day notice account is reducing from 5.05% to 4.85% on 21.1.25 according to an email I've received. 

SnowMan

Email from DF Capital to say they are changing their terms and conditions. The main relevant change is

Notice Accounts: We’ve extended the notice period for rate decreases. For example, on a 90-day notice account, you’ll now get 104 days’ notice (90 days plus a 14-day consideration period). See Section 25 for details.

There was a lot of discussion previously on whether the notice was 90 days or 104 days, as previous versions of the terms and conditions said conflicting things. They did give 104 days notice of the recent upcoming reduction from 5.3% on the issue 1 account. 

But they've now provided complete clarity on this issue.  

Rheumatoid

SnowMan said:

Email from DF Capital to say they are changing their terms and conditions. The main relevant change is

Notice Accounts: We’ve extended the notice period for rate decreases. For example, on a 90-day notice account, you’ll now get 104 days’ notice (90 days plus a 14-day consideration period). See Section 25 for details.

There was a lot of discussion previously on whether the notice was 90 days or 104 days, as previous versions of the terms and conditions said conflicting things. They did give 104 days notice of the recent upcoming reduction from 5.3% on the issue 1 account. 

But they've now provided complete clarity on this issue.  

I did wonder why I got this message as I thought that was already the case. at least they have now made it clear.
I like DF capital.

slinger2

DF Capital 90-day notice account 5.11% AER: NLA. Pretty sure it was there yesterday.

Rheumatoid

slinger2 said:

DF Capital 90-day notice account 5.11% AER: NLA. Pretty sure it was there yesterday.

Glad I opened on Monday just in case.

dingling68

slinger2 said:

DF Capital 90-day notice account 5.11% AER: NLA. Pretty sure it was there yesterday.

phew I opened it an hour before!

1spiral

Have Kent Reliance notified of any rate drops? I have issue 55 of their 60 day notice @ 5.04% and can't find any correspondence for a forthcoming rate drop.

mebu60

Today (Thursday 28 November) is 95 days from Monday 3 March 2025 if anyone wants to give notice on their Charter 95 Day that drops to 4.7% on 03:03 after falling to 5.0% from current 5.25% on 17:12.