YBS Loyalty Fixed Rate eBond until 31st August 2024 6.00%

what7

I have not put any money since February , no letter recieved, it was 3.7%, now 4.05%, it is what it is. Online still listed account as 'home deposit saver' Not going to call, just waiting for it to mature March 2024. i am not even local. But half a mile away from the 25mile limit lol

I have not read anything on their website or pdf saying they won't pay interest. I mean after all it would be their decision to downgrade the account. I have not asked for it to happen. (but am praying it does lol) 

bristolleedsfan

what7 said:

Catplan said:

what7 said:

Why is this so popular when other bank offer the same if not more % 

I’m guessing easy to open / maturing regular savers? Many had the at the time high paying r/s which is maturing now. Existing customers can easily fund the 6% account with those funds. Much less hassle than a new Vanquis account where many need to send proof of ID in the post.

For me it’s a decent place to stick 6K for a year, yeah I could get 6.15, or could get 5.7 in an ISA.

If anything, I'm suprise ybs withdrawn this so quickly. 

Plus fixing for 6% now when no one know if interest rate is still going up is risky.

My mature 6k is going to re invest back into 6+% RS. And my 5.5% RS isn't losing out that much compare to the potential rise in next month review.

Whilst variable rates are predicted to continue to increase during this year, swap rates which influence fixed rates reported to have fallen 0.3% today.

Sg28

bristolleedsfan said:

what7 said:

Catplan said:

what7 said:

Why is this so popular when other bank offer the same if not more % 

I’m guessing easy to open / maturing regular savers? Many had the at the time high paying r/s which is maturing now. Existing customers can easily fund the 6% account with those funds. Much less hassle than a new Vanquis account where many need to send proof of ID in the post.

For me it’s a decent place to stick 6K for a year, yeah I could get 6.15, or could get 5.7 in an ISA.

If anything, I'm suprise ybs withdrawn this so quickly. 

Plus fixing for 6% now when no one know if interest rate is still going up is risky.

My mature 6k is going to re invest back into 6+% RS. And my 5.5% RS isn't losing out that much compare to the potential rise in next month review.

Whilst variable rates are predicted to continue to increase during this year, swap rates which influence fixed rates reported to have fallen 0.3% today.

Yesterdays inflations figures prompted me to jump on a 1 year fix rather than waiting.

soulsaver

apt said:

soulsaver said:

Growingold said:

soulsaver said:

I just opened one. I'm aware that YBS online has had problems today... 

Though still showing online at 4am when you try to open one it says NLA.   What will be will be.

I finished opening it at c.01.20 this morning. I got the account number & sort code by email from YBS, timed at 01.24.

I can also confirm the email to me says you have 42 days to fund the account.

You've misread the e-mail. It says that they will close the account if you do not fund it within 42 days. That doesn't mean that you have 42 days to add funds if they withdraw the account in the meantime, which they have. The e-mail also states 'Any payments received after the account has been withdrawn from sale will be returned to you.' If you want to fund the account they've given you 7 days to do so, not 42 days.

@apt "Thank you for applying to open a Loyalty Fixed Rate eBond to 31/08/2024 with us. Your account is now ready to receive your first deposit. You have 42 days to make your first deposit otherwise your account will close."

apt

Soulsaver, you need to read to the end of the e-mail which states

Don't forget:

This is a limited issue account and can be withdrawn from sale at any time so the sooner you make a deposit the better. Any payments received after the account has been withdrawn from sale will be returned to you.



It is clear from other correspondence people have received, YBS will accept payments into accounts that have already been opened until 26 July, but no later.

soulsaver

apt said:

Soulsaver, you need to read to the end of the e-mail which states

Don't forget:

This is a limited issue account and can be withdrawn from sale at any time so the sooner you make a deposit the better. Any payments received after the account has been withdrawn from sale will be returned to you.



It is clear from other correspondence people have received, YBS will accept payments into accounts that have already been opened until 26 July, but no later.

I'm well aware of the whole email. You posted that I misread the email.

I didn't. You misunderstood why I quoted the words.