IceSave Reduce Rate to 6.05%

thumshie

bristolleedsfan wrote: »

Not 4 letters is it ,,,,,,,,,,,,,:rotfl: ( crow )

Nope...;)



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bristolleedsfan

KDH wrote: »

Anyone with money in Icesave and/or Kaupthing Edge may want to read this article

http://business.timesonline.co.uk/tol/business/money/savings/article3340734.ece

"ADVISERS are urging British savers to limit their investments in Icelandic savings accounts to £35,000, amid fears that some of the country’s biggest banks are headed for strife."

Shows how much Homegrown Savings Providers are losing. :eek:

"The average balance in an Icesave easy-access account is £38,000 and some families have as much as £1m with the bank."

Lavendyr

Hmph, what a shame...I didn't think they'd drop it before ICICI dropped theirs. It's still more than 0.25% above base rate though, which is what they promised.

Ah well. I'll top up the account until I've got a clear £3600 plus the £250 I need to keep the account open at the higher interest rate, and then I'll move the £3600 into the Icesave ISA and start shovelling everything else into A&L Esaver at 6.5% until May '09.

Does show one thing, though - they can't be that desperate for savers' money, obviously.

sheslookinhot

Notice how when interest rates are lowered--they are changing, but when the rise-- they are increasing.

McSaver

sheslookinhot wrote: »

Notice how when interest rates are lowered--they are changing, but when the rise-- they are increasing.

Reminds me of a certain ING Direct :rotfl: :rotfl: :rotfl:

Of course im disapointed but most of my cash is in the 1 year bond.

rebeccaj

yep, just received the email from them. Boo hiss

bristolleedsfan

sheslookinhot wrote: »

Notice how when interest rates are lowered--they are changing, but when the rise-- they are increasing.

Thats what normally happens with savings rates when base rates go up and down. :rotfl: :rotfl:

MiserlyMartin

LOL. Anyway what a dilemma. Icesave now at 6.05% and where do we move it to - who is likely to keep rates frozen? Kaupthing Edge was supposed to be freezing them, but now I see that on the savings article, it now says, 'rate not dropped' instead of 'rate frozen'. Whats changed?

So we have: Kaupthing Edge 6.5% with 0.30% above BR promise
Firstsave 6.5% (Nigerian Bank) 0.25% promise
ICICI 6.41% with 0.30% above BR promise

Whats everybody doing, waiting to see if the above drops or piling into Kaupthing?

nilrem_2

MiserlyMartin wrote: »

So we have: Kaupthing Edge 6.5% with 0.30% above BR promise
Firstsave 6.5% (Nigerian Bank) 0.25% promise
ICICI 6.41% with 0.30% above BR promise

Northern Rock Fixed Rate Access Bond does not look too bad ATM 6.50% Gross?AER Fixed for 12 months with full access! or 6.32% AER with monthly interest.

Available to new and existing customers
Fixed rate of interest until 20 February 2009
Withdrawals can be made without any notice or charges
Can be opened with an initial deposit of just £1
Choice of annual or monthly interest
You can even add extra money to your Bond while the Bond is still available to new customers

Beate

bristolleedsfan wrote: »

Thats what normally happens with savings rates when base rates go up and down. :rotfl: :rotfl:

Yes but you didn't get the sublety in phrasing: when interest rates go down, they are decreasing - but the banks don't use that bad word, they say they are "changing".