Northern Rock Savings Rates Reducing By Up to 0.35% W.E.F 7th May

bristolleedsfan

https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=170510


TRACKER ONLINE: 5.74% (-0.26%).

SILVER SAVINGS: 5.01% (-0.35%).( A.E.R rate will be higher, 5.14% perhaps )

BRANCH SAVER: 4.90% (-0.35%)


Before the usual suspects moan about Silver Savings rate being reduced by 0.35%, they opened their accounts with this apparent dire guarantee.

"Guaranteed to be at least equal to the UK Bank Base Rate until 31 January 2010"

purch

Well old 'Badger' Face was insisting that the Banks and BS pass on the interest rate cuts.

I guess he had to make sure his own 'play' Bank did so too.

Expecting the Government to care two hoots about the millions of savers this loony policy hurts is futile.

bristolleedsfan

purch wrote: »

Well old 'Badger' Face was insisting that the Banks and BS pass on the interest rate cuts.

I guess he had to make sure his own 'play' Bank did so too.

/quote]


NR are only reducing its Morgage SVR by 0.10% again.

"Badger Face" :T I call him "The Guarantee Man" :rolleyes:

ianmr65

Well Darling does have a mortgage with NR - :rotfl: (or did)... and i think they have to be seen to be taking account of the EU concerns.

Milarky

This is off-topic so apologies, but looking at Inflation this month, we apparently have a CPI which is 0.9% lower than Eurozone - is this true????

As an internationally comparable measure of inflation, the CPI shows that the UK inflation rate in February, at 2.5 per cent, was below the provisional figure for the European Union as a whole of 3.4 per cent.

Can it be explained by the diversity of the Eurozone??

rebeccaj

bristolleedsfan wrote: »

TRACKER ONLINE: 5.74% (-0.26%).

SILVER SAVINGS: 5.01% (-0.35%).( A.E.R rate will be higher, 5.14% perhaps )

does that reduction of .35% apply to Silver Savings Online as well? I cannot find any reference to SS Online rates on their site any more, not even in the "rates for other accounts" section

bristolleedsfan

rebeccaj wrote: »

does that reduction of .35% apply to Silver Savings Online as well? I cannot find any reference to SS Online rates on their site any more, not even in the "rates for other accounts" section

Initially I stated in O/P that I wasnt sure what Silver savings account was being referred to because i couldnt see any reference on NR webpage to its accounts that are no longer available to new account openings.

I then edited the post to reflect info I saw on NR webpage, obviously unless it is stated on providers webpage im not too know which accounts have a Branch and an Online Version.

This is only account info i can see on NR webpage bar the obvious.

http://www.northernrock.co.uk/savings/saving-rates/other-accounts/

http://www.northernrock.co.uk/savings/savings-range/

King_Weasel

Milarky wrote: »

This is off-topic so apologies, but looking at Inflation this month, we apparently have a CPI which is 0.9% lower than Eurozone - is this true????

Can it be explained by the diversity of the Eurozone??

It could be explained by the diversity of the methods used in different countries to calculate it. I stand to be corrected on this, but I believe each country does its own and an exercise like this leaves plenty of scope for variation arising from different sampling practices etc. So I would tentatively conclude that if a consistent method were rigorously applied our CPI might be lower. Or not.

Geoffo_M

bristolleedsfan wrote: »

https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=170510

SILVER SAVINGS: 5.01% (-0.35%).( A.E.R rate will be higher, 5.14% perhaps )


Before the usual suspects moan about Silver Savings rate being reduced by 0.35%, they opened their accounts with this apparent dire guarantee.

"Guaranteed to be at least equal to the UK Bank Base Rate until 31 January 2010"

5.01% can't be right surely. I have a note that the last rate reduction took it down to 6% on the 4th April 2008. Am I way out??

Baldur

Geoffo_M wrote: »

5.01% can't be right surely. I have a note that the last rate reduction took it down to 6% on the 4th April 2008. Am I way out??

Looks as though you are way out. You can see their current rates HERE & HERE.

dougs

Geoffo_M wrote: »

5.01% can't be right surely. I have a note that the last rate reduction took it down to 6% on the 4th April 2008. Am I way out??

That was the last email notice of a rate cut that I got as well. Silver Saver Online, 6%.

I can hardly see them dropping the rate from 6% to 5.01% in one go - there would be an exodus! :eek: