Notice Accounts

Burcot

Such slow upward movement in rates this time..no reason to compete perhaps..

Band7

CHIP don't appear to have quite grasped the concept of Notice rates from the same provider needing to be higher than instant access ones 🤣🤣

SuzzleBumpkin

Band7 said:

CHIP don't appear to have quite grasped the concept of Notice rates from the same provider needing to be higher than instant access ones 🤣🤣

I noticed that. It does look weird. It’s probably because they aren’t looking to increase assets in their notice accounts.  They’ve made a lot of changes recently (switching to paying interest instead of bonuses) so I imagine they are mainly focusing on the easy access market for now. 

SuzzleBumpkin

Burcot said:

Such slow upward movement in rates this time..no reason to compete perhaps..

They’ve been slowing down and being more conservative with rate rises on savings for a while. Maybe it’s related to fewer people taking out mortgages and loans. 

gt94sss2

Band7 said:

CHIP don't appear to have quite grasped the concept of Notice rates from the same provider needing to be higher than instant access ones 🤣🤣

The notice account is run my OakNorth who are responsible for the interest rate, not by CHlP.

intalex

Paragon have also “ignored” the last 2 BoE rate rises on their exclusive 180-day notice account (3.00% AER) despite their triple access saver current issue rising to 3.10% AER…I guess most of the funds in the former are probably already serving withdrawal notice…

SuzzleBumpkin

intalex said:

Paragon have also “ignored” the last 2 BoE rate rises on their exclusive 180-day notice account (3.00% AER) despite their triple access saver current issue rising to 3.05% AER…I guess most of the funds in the former are probably already serving withdrawal notice…

Good to know. I’ll avoid if they bring out a new issue. Thanks for the heads up. 😊

Band7

gt94sss2 said:

Band7 said:

CHIP don't appear to have quite grasped the concept of Notice rates from the same provider needing to be higher than instant access ones 🤣🤣

The notice account is run my OakNorth who are responsible for the interest rate, not by CHlP.

CHIP  are responsible for the products they offer on their platform 🤣

Minty33

Investec 90 Day Notice Saver 3.55%

up from 3.22%

Burcot

Really hope this triggers a spate of other interest rises..