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Have you received Cynergy's notification of rate reductions

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  • Issue 68. No I haven't received an email advising of rate reduction.
    SnowMan said:
    you can find historic rates for all the issues by going to their interest rate page

    That's where it is. I could never locate it because it never occurred to me that it would be in the support submenu. When I google cynergy historic rates it never finds it.

  • SnowMan said:
    I've closed and transferred my issue 68 into issue 80 today, since the issue 68 rate falls today to the issue 80 rate of 4.8%, and because the issue 68 bonus would have disappeared next month pushing that below the issue 80 rate.
    I was one of the account holders who was notified late of the previous decrease down to 5% and the closing interest does correctly reflect that late notification.
    Incidentally you can find historic rates for all the issues by going to their interest rate page then clicking on the historic rates tab and then clicking on the download button. That won't take into account the above late notification that happened to some of us for issue 68. And today's reduction won't be there yet.
    I don't think there is any page on their website where they detail announced reductions that are yet to happen, so we are reliant on getting the notification email through.
    Was there any bonus or interest penalty for closing before the 1 year date? I am thinking of doing the same with my issue 69 which also goes to 4.8% (tomorrow?), at least it will move the bonus date forward.
  • mebu60
    mebu60 Posts: 1,585 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    Issue 68. No I haven't received an email advising of rate reduction.
    Bobblehat said:
    SnowMan said:
    I've closed and transferred my issue 68 into issue 80 today, since the issue 68 rate falls today to the issue 80 rate of 4.8%, and because the issue 68 bonus would have disappeared next month pushing that below the issue 80 rate.
    I was one of the account holders who was notified late of the previous decrease down to 5% and the closing interest does correctly reflect that late notification.
    Incidentally you can find historic rates for all the issues by going to their interest rate page then clicking on the historic rates tab and then clicking on the download button. That won't take into account the above late notification that happened to some of us for issue 68. And today's reduction won't be there yet.
    I don't think there is any page on their website where they detail announced reductions that are yet to happen, so we are reliant on getting the notification email through.
    Was there any bonus or interest penalty for closing before the 1 year date? I am thinking of doing the same with my issue 69 which also goes to 4.8% (tomorrow?), at least it will move the bonus date forward.
    No. Almost the opposite, the interest is crystallised and moved into the issue 80 too. 

    Be sure to select 'transfer and close' option on the issue 69 once the issue 80 is open (usually immediately after application). 
  • SnowMan
    SnowMan Posts: 3,676 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 26 September 2024 at 12:33PM
    Issue 69. No I haven't received an email advising of rate reduction.
    Bobblehat said:
    SnowMan said:
    I've closed and transferred my issue 68 into issue 80 today, since the issue 68 rate falls today to the issue 80 rate of 4.8%, and because the issue 68 bonus would have disappeared next month pushing that below the issue 80 rate.
    I was one of the account holders who was notified late of the previous decrease down to 5% and the closing interest does correctly reflect that late notification.
    Incidentally you can find historic rates for all the issues by going to their interest rate page then clicking on the historic rates tab and then clicking on the download button. That won't take into account the above late notification that happened to some of us for issue 68. And today's reduction won't be there yet.
    I don't think there is any page on their website where they detail announced reductions that are yet to happen, so we are reliant on getting the notification email through.
    Was there any bonus or interest penalty for closing before the 1 year date? I am thinking of doing the same with my issue 69 which also goes to 4.8% (tomorrow?), at least it will move the bonus date forward.
    No penalty or loss of bonus for closing. The basic interest and bonus both accrue on a daily basis. Just open an issue 80 if you haven't already, go to the issue 69, choose internal transfer and close, select the issue 80 to transfer to and the balance, accrued basic interest and accrued bonus (although the two interest elements aren't separated) will transfer over
    I came, I saw, I melted
  • SnowMan
    SnowMan Posts: 3,676 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Issue 69. No I haven't received an email advising of rate reduction.
    1spiral said:
    SnowMan said:
    you can find historic rates for all the issues by going to their interest rate page

    That's where it is. I could never locate it because it never occurred to me that it would be in the support submenu. When I google cynergy historic rates it never finds it.

    I struggled to find it in the past and only came across the historical interest page recently
    I came, I saw, I melted
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