Bradford & Bingley RATE FOR LIFE SAVER etc

skoolmaster

Bradford & Bingley

GOOD FOR LIFE ISA minimum investment reduced to £1 (previously £1K) and RATE FOR LIFE - BRANCH,
RATE FOR LIFE - POSTAL,
RATE FOR LIFE - ONLINE and NOTICE SAVER - BRANCH launched w.e.f. 23.6.08.

RATE FOR LIFE - BRANCH: a branch based instant access account with a minimum investment of £1K paying 5.25% yearly (5.13% monthly). Rate guaranteed to match Bank of England Base Rate plus 0.25%.

RATE FOR LIFE - POSTAL: a postal operated no notice account with a minimum investment of £1K paying 5.25% yearly (5.13% monthly). Rate guaranteed to match Bank of England Base Rate plus 0.25%. Withdrawals (minimum £250) via BACS to a nominated account or by cheque payable to the account holder. Initial deposit by personal cheque or internal transfer.

RATE FOR LIFE - ONLINE: an internet operated no notice account with a minimum investment of £1K paying 5.25% yearly (5.13% monthly). Rate guaranteed to match Bank of England Base Rate plus 0.25%. Withdrawals via BACS to a nominated account holder. Initial deposit by personal cheque, transfer from nominated account or internal transfer. Additions by direct debit.

NOTICE SAVER - BRANCH: a 30 day notice branch based account with a minimum investment of £1K paying 5.35% yearly (5.22% monthly), £50K - 5.60% (5.46%), £250K - 5.75% (5.60%). Earlier access on 30 day loss of interest.
20 Jun 2008

McSaver

With rates of 6% and above available on similar products with banks and building societies elsewhere, these products arent really competitive enough despite being labled "rate for life".

trashcan_2

A lot of 6% accounts seem to be only for limited period, and some people do not like to keep changing, so a reasonable rate for life might be a good option for some. It might be better if it was 6% + for life though.

bristolleedsfan

trashcan wrote: »

It might be better if it was 6% + for life though.

12% for life would have been nice.

Baldur

A definition of 'life' would be helpful - it could be interpreted as:

• The life of the depositor (currently appears quite likely to be longer than the two alternatives)
• The life of the account
• The life of Bradford & Bingley

skoolmaster

given the current refinancing woes of the Bowlers hat men fom Bingley ....
longevity lies at the whims of B&B members and Texas Pacific Group...

not being an Actuary .... estimates of B&B's demise as an independent entity run from 6 months to a year ...

Takeover looks inevitable as their share price and Standard & Poors ratings trend ever downwards ...