Northern rock rate dropped to 6%

fishingdobbie

I have just opened a silver saver account at 6.25% and from April 4th it drops to 6%, I take it all the rest will be following suite? Bert

roddydogs

Why? Coventry BS is still paying 6.40%, Kaputhing 6.5%
i have a NR S/s a/c, however if i transfer money its the old problem of loss of interest. I will probably leave it till May, and see how the Instant transfer thinghy works out!

baby_boomer

NR has to pretend to the EU and banks / building societies not to disrupt the market.

But it appears to have been repaying its debt to the government at a surprisingly rapid rate, and so they might have deemed it wise to take their foot off the pedal before criticism mounts.

bristolleedsfan

baby_boomer wrote: »

NR has to pretend to the EU and banks / building societies not to disrupt the market.

.

Interesting article here :

http://www.citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=299678&Page=1

earlgrey_3

fishingdobbie wrote: »

I have just opened a silver saver account at 6.25% and from April 4th it drops to 6%, I take it all the rest will be following suite? Bert

Bert, the Coventry 50+ account works just like the NR Silver Savers with on-line instant access but pays 6.4% guaranteed for 12 months from the date of opening. http://www.coventrybuildingsociety.co.uk/savings/esave.aspx

roddydogs

So if i opend the Cov Bs ss a/c last July, what will the "Variable" rate be next July?

fishingdobbie

earlgrey wrote: »

Bert, the Coventry 50+ account works just like the NR Silver Savers with on-line instant access but pays 6.4% guaranteed for 12 months from the date of opening. http://www.coventrybuildingsociety.co.uk/savings/esave.aspx

Thanks I will have a look at that, I only put £50.00 in NR to open it whilst I close my direct saver with A&L. I need a joint account and monthly interest, and no penalties, I have an icesave account,I fancied the edge account,but with the edge account you can't have a joint account.