Raisin Zenith

sarnia

In December 2022 there was info through MSE regarding saving accounts.I took one out through Raisin with an interest rate of around 3%,Impretty sure the rate was around this,there was also a £50 bonus(which I received).However now the rate seems to be 1.57,is this my fault only Im pretty sure I wouldnt have taken it out with such a low rate of interest and I am tied to this till December 2023! Anyone experience this?

Doctor_Who

One year rates on Raisin in December 2022 were around 4% (I have a 1 year bond with Paragon Bank through Raisin for 4.2% that matures December 2023). If it was fixed for 1 year then the rate stays the same for the entire term. I have never had anything like this happen with any of my Raisin accounts, and I've had over 20. You need to go through your paperwork to double check the rates and term, if that doesn't help then contact Raisin, their customer service is helpful.

Edit: December 2021 rates were much closer to ~1.6%, may be it was a two year bond?