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

Geoffo_M

oldfella wrote: »

Silver saver online also reduces by 0.35% to 5.65% - time to go.

Agreed about time to go. Can I ask where you get this info from - I still can't see it on their website.

Geoff

oldfella

email from NR - On 10 April 2008 the UK Bank Base Rate1 decreased by 0.25% to 5.00%. Following this, the annual interest rate on Silver Savings Online account will decrease by 0.35% to 5.65% gross/AER2, and the monthly interest rate will decrease by 0.34% to 5.51% gross/5.65% AER2.

Greycrow

Yes, time to move.

alanji

Yes, silversavings on line has disappeared completely from their web site. Notice of rate change here
http://www.c-f-1.com/HTMLEmail.aspx?emailid=OTI2MDQ5MDI5
Could this be another Darling !!!!-up?

Oblivion

I understand the need to refrain from being too competive in the light of the government baleout, but these latest interest rate cuts are a step too far.

I think they've really lost the plot this time and will lose customers' deposits big time. Fairwell NR. :wave:

dougs

Oblivion wrote: »

I understand the need to refrain from being too competive in the light of the government baleout, but these latest interest rate cuts are a step too far.

Second cut in just over a month - .25% down on 4th April, .35% down on 7th May. Not good, not good at all :mad:

If they want to lose savings customers as well as mortgage ones, then they are going the right way about it. But perhaps that is the idea. Wind it down slowly and unnoticeably sort of thing