I.F Drop Rate

derrick

I.F. has dropped the rate on their savings account from 4.75% to 4.5%, and their current account from 2.75% to 2.5% as from 5th September, only found this by visiting the website then phoning to confirm when the rate dropped.

WSO

I noticed the drop in rates the other day while toying with the idea of getting a loan with them - still it would be nice to have a note on the summary page saying rates have changed since the last time you logged it... surely it can't be that hard to do since they are now displaying your last login date and time!

Got a leaflet yesterday with statement...

Direct Access Savings, Annual, Gross:- from 4.75% to 4.5% AER p.a
Direct Access Savings, Monthly, Gross:- from 4.65% to 4.41% p.a
Mini Cash ISA, Annual, Gross:- from 5.00% to 4.55% AER p.a
Mini Cash ISA, Monthly, Gross:- from 4.89% to 4.46% p.a
Current Account, Annual, Gross:- from 2.75% to 2.5% AER p.a
Current Account, Monthly, Gross:- from 2.72% to 2.47% p.a

Effective from the 5th September.

Do other people think that's a big drop on the ISA? (almost double the cut in rates!)

I have an IF ISA but haven't subscribed to it yet (taking out doesn't count does it?). Perhaps I'd be better off moving it somewhere else... shame as my current account is with IF and it is nice to have immediate access to the ISA via debit card just using a quick online transfer.

YorkshireBoy

Some discussion over on the ISA board...

http://forums.moneysavingexpert.com/showthread.html?t=87792