Notice Accounts

slinger2

mebu60 said:

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. 

Very similar to the RCI 95-day account which is dropping to 4.7% on 10 March.

Hoping that one of my others will be doing better at that time: DF Capital, Vanquis, Investec

poseidon1

mebu60 said:

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. 

Charter and Kent Reliance ( both owned by One Savings Group ) are a little baffling with their multiple issues of notice accounts at different rates overlapping each other.

On 11 November I opened Charter's 30 day notice account paying 4.75% monthly ( issue 22) . However this has quickly ( and bewilderingly ) been replaced by a further 2 issues culminating with issue 24 paying just 4.27% (monthly) as of today.

 Seemingly until such time they deign to give 14 day notice of a rate fall, I am 'locked' to a short duration notice account paying an interest rate higher than even their present 120 day notice account (4.60% monthly issue 32).
Curiously, irrespective of the duration of these accounts, they all have the same notice period of at least 14 days notification of a rate fall.

Since both businesses are primarily  buy to let lenders, one can only assume there  is some loose correlation between savers rates on different issues, and the rates charged on different tranches of buy to let loans with  complex calculations by which they balance their short term liabilties (savers deposits ) against the medium/ long term assets ( borrowers loans ). Intriguing but baffling.

1spiral

poseidon1 said:

Charter and Kent Reliance ( both owned by One Savings Group )

Do they not share a banking license then?

Using this seems to indicate they don't.

poseidon1

1spiral said:

poseidon1 said:

Charter and Kent Reliance ( both owned by One Savings Group )

Do they not share a banking license then?

Using this seems to indicate they don't.

Correct they don't.

 Charter retained its independent FRN number for fcsc protection purposes when they were taken over in October 2019, so separate £85k  fscs protection for each of the businesses despite having the same parent holding company.
This was important to me, at the time of the takeover since deposits held with both, then and now.

slinger2

Vanquis 90-day down to 4.71% AER for new customers, was 5.0%. Looks like the 30, 60 and 120 day rates are down too.

RosieRooBear

Family Building Society Windfall Bond, BOE Tracker 35 day notice, rate reducing from 4.75% to 1% below BOE rate wef 1st February 2025, so will be 3.75% at the current BOE rate.

From email just received:
At the moment the interest rate paid is the same as the Bank of England Bank Rate, currently 4.75%.

From 1 February 2025, the rate of interest payable on your Windfall Bond will be set at 1% below the prevailing Bank of England Bank Rate. This means that, at current Bank of England Bank Rate, your Windfall Bond will pay interest at 3.75% gross AER^ from 1 February next year. Further information on the Windfall Bond’s variable rate is provided in the Windfall Bond Product Features Leaflet here: familybuildingsociety.co.uk/windfallbond

We realise that a rate decrease will be disappointing. However, we believe our Windfall Bond continues to offer better overall value compared to other prize accounts that do not pay any interest at all. 

Rest assured, the newly improved structure of the prize draw that we launched in October this year and the calculation of the prize fund both continue unchanged. The December 2024 draw, for example, will have 173 prizes available from a prize fund of £137,100, with the largest prize being £50,000.

Bobblehat

Cynergy 95 Day Notice Account (Issue 4) reduces on 27th December from 5.20% AER/Gross to 4.85% AER/Gross.

We have until 12/01/2025 to close without notice.

allegro120

HTB

"We recently introduced a new rate on our 95 day notice account for new customers. As an existing customer, we will keep your current rate of 4.50% AER gross variable until 8 April 2025. After this date, the rate on your 95 day notice account will be reduced to 3.95% AER gross variable."

Bobblehat

Reminder .....

Cynergy 95 Day Notice account drops today from 5.2% to 4.85%.

Burcot

Cynergy 95day...where else to go now?