Paragon Bank - Possible Interest Rate Reductions Without Notice

Growingold

Just seen this banner below on their website.

'With ongoing volatility in market rates, we may need to make changes to our savings products. This could include some products being withdrawn, temporarily restricted or rates adjustments, without notice.'

Ayr_Rage

Does that align with their general Ts and Cs?

(Please don't post in in CAPITALS, it's considered as shouting.)

Hattie627

I think they probably mean that variable and fixed rate account products currently being offered might be withdrawn or restricted (perhaps to existing customers, for example) or rates reduced without prior warning. They have to give notice of rate reductions to variable rate accounts already in existence.

Barkin

FWIW that's how I read it too.

It doesn't mean that they can or will ignore the T's&C's of existing accounts.

Growingold

https://forums.moneysavingexpert.com/discussion/comment/81961972#Comment_81961972

I have amended my original listing. Wasn't shouting just wanted to emphasise which is why I used capitals in the title.

Hattie627

https://forums.moneysavingexpert.com/discussion/comment/81962775#Comment_81962775

Don't worry about it. I didn't take your original title as "shouting", merely emphasis. Context is everything.

Rich2808

I have been with Paragon for years and they are quite possibly the most efficient, competent and helpful financial institution I have ever dealt with when it comes to managing cash ISAs/savings - and they offer consistently good rates and a range of variable and fixed rate products. It is so easy managing your ISAs with them too once opened.

So I wouldn't worry about this at all.