Abbey - 6.5% from Monday

PBA

Abbey are launching a new variant of their Esaver account from Monday 4 Feb. 6.5% is the headline rate on balances up to 250k if no withdrawals made, but only pays 3% in any month when a withdrawal is made. Account can be opened in branch, but transactions after that have to be online or by cash machine.

Also being launched is a 6 month bond paying 6.6& on balances over 100k, but that's less interesting :rolleyes:

planemad

If the 6.5 Esaver actually happens i'm sure this will be the market leading saving product (interest wise).

Jonbvn

planemad wrote: »

If the 6.5 Esaver actually happens i'm sure this will be the market leading saving product (interest wise).

Given the current competitive savings market, I wonder how long it will remain the leading product? Looks like a race to 7%:T

Steve_xx

Existing Silver Savings Online account holders and holders of Tracker Online accounts that are still within their first year would be better to keep their cash where it is until after 1 March due to the additional 0.5% loyalty bonus that is payable on balances in accounts that were already open on 1
December 2007.

Unless of course, interest rates on these two accounts fall for some reason and the rate on the proposed E-saver does not.

Steve_xx

Jonbvn wrote: »

Given the current competitive savings market, I wonder how long it will remain the leading product? Looks like a race to 7%:T

The race for the 7% bond has already happened and it has been withdrawn. Rates are actually falling.

bristolleedsfan

planemad wrote: »

If the 6.5 Esaver actually happens i'm sure this will be the market leading saving product (interest wise).

http://www.kaupthingedge.co.uk/Default.aspx :whistle:

Steve_xx

bristolleedsfan wrote: »

http://www.kaupthingedge.co.uk/Default.aspx :whistle:

Savings Account Special Terms and Conditions

10 Application of Savings Account Special Terms and Conditions

These Special Terms and Conditions apply in addition to the General Terms and Conditions if you have a
Savings Account.

11 The Savings Account

This is a variable rate product. You are only allowed one Savings Account at any time, with unlimited deposits
and withdrawals.

12 Balances

12.1.1 Minimum Balance

If you have a Savings Account, but not a Fixed Term Deposit Account, the minimum balance that you can have
in the Savings Account is £1. However, interest will only accrue if the balance in the Savings Account is £1,000
or more. For every calendar day that the balance in the Savings Account goes below £1,000, no interest will
accrue. Please see the Interest Rates section of the Website for further details.

bristolleedsfan

Steve_xx wrote: »

Savings Account Special Terms and Conditions

10 Application of Savings Account Special Terms and Conditions
These Special Terms and Conditions apply in addition to the General Terms and Conditions if you have a
Savings Account.
11 The Savings Account
This is a variable rate product. You are only allowed one Savings Account at any time, with unlimited deposits
and withdrawals.
12 Balances
12.1.1 Minimum Balance
If you have a Savings Account, but not a Fixed Term Deposit Account, the minimum balance that you can have
in the Savings Account is £1. However, interest will only accrue if the balance in the Savings Account is £1,000
or more. For every calendar day that the balance in the Savings Account goes below £1,000, no interest will
accrue. Please see the Interest Rates section of the Website for further details.

1000.00 is spare change for a lot of people, at least it pays interest in any month whenever a withdrawal is made unlike the abbey account.

Primrose

I have read such bad reports from Abbey in the press about their poor customer service that I'd be inclined to give them a wide berth for this reason alone,, even if they do pay a good interest rate. There are plenty of other institutions around offering good deals.

Steve_xx

I have to concur with you Primrose, Abbey are not brilliant.