Ulster Savings

thevoid69

It just means the interest rate will drop when you go under £5000. If you top it back up, the interest rate will go back to the higher rate.

topyam

Mine was £1 for a while and then moved up once I got over £5000. That should reassure people.

thevoid69

So if I fund it today, I'll start earning the 4.5% from today or from when the app updates the interest rate?

Ayr_Rage

thevoid69 said:

So if I fund it today, I'll start earning the 4.5% from today or from when the app updates the interest rate?

I've done some more digging for you, this is from the web page, my highlight.

Interest is calculated daily and paid on the first business day of the month and at account closure. You’ll be able to see and access the interest in your account on the following day. During the 12 month term, if you have a balance of £5,000 and £3,000,000, you will earn the bonus interest rate in addition to the variable rate. If your balance drops below £5,000 at any time during the 12 month term, interest will be paid at the variable interest rate set out above. Interest is earned from the first payment made to the account.

thevoid69

Ayr_Rage said:

thevoid69 said:

So if I fund it today, I'll start earning the 4.5% from today or from when the app updates the interest rate?

I've done some more digging for you, this is from the web page, my highlight.

Interest is calculated daily and paid on the first business day of the month and at account closure. You’ll be able to see and access the interest in your account on the following day. During the 12 month term, if you have a balance of £5,000 and £3,000,000, you will earn the bonus interest rate in addition to the variable rate. If your balance drops below £5,000 at any time during the 12 month term, interest will be paid at the variable interest rate set out above. Interest is earned from the first payment made to the account.

Thank you, appreciate it

DRS1

Interesting that no-one has commented that the variable rate on less than £5k is only 1.06% and not the 1.75% that is payable on £5k and above.  So if you drop below £5k you are not just losing the fixed bonus rate but a bit of the variable rate as well.

Supatramp

Why is the equivalent of Ulster's Limited Edition Saver account not available through RBS? I thought they were the same bank?