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crashmonitor

Nortern Rock Cranks Savings Rate To 6.71%

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Yep,they haven't even took the 6.4% Bond sign down in the window as of 5 minutes ago.This is rate setting on the hoof.

I think I'd wait to see their next set of accounts before taking them up on that offer. BCCI used to pay more interest than anyone else and it was for a good reason.

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Wouldn't touch em with a barge pole!

Hey, I recall reading somewhere that bondholders get preference on money reclaimed from a business during the administration and liquidation process.

So you might not lose it all :P

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I was going to post about their tracker online instant access account which has just had the interest cranked up from 5.25% AER to 6.31% AER via an introductory bonus. This puts them to the top of the savings list on moneysupermarket. The sneaky thing is that unless you look at the notes you wouldn't know about the bonus and they won't notify you when it expires after the year!

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Yep,they haven't even took the 6.4% Bond sign down in the window as of 5 minutes ago.This is rate setting on the hoof.

Are they protected by the FSA scheme?

Looks quite an attractive rate to me! 32K @ 6.71% is £178 per month, less tax at 20% = 143 a month.

I am currently getting around £200 is on 58K with an HSBC online saver account. (I think they are at 5.5% ish) so the 1.2% would be an additional £700 quid a year or so.... or half that if i split it between them.

What do you all reckon....? Money sounds good but I don't want to bail out northern rock!! ;)

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Are they protected by the FSA scheme?

Looks quite an attractive rate to me! 32K @ 6.71% is £178 per month, less tax at 20% = 143 a month.

I am currently getting around £200 is on 58K with an HSBC online saver account. (I think they are at 5.5% ish) so the 1.2% would be an additional £700 quid a year or so.... or half that if i split it between them.

What do you all reckon....? Money sounds good but I don't want to bail out northern rock!! ;)

Well I have got 35K with them.Until yesterday I had 217K with them and was having sleepless nights.They incidentally defaulted on the 182K CHAPs transfer by 48 hours.

Edited by crashmonitor

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I can see an 'It's a Wonderful world' moment with the fiendly bank manager putting the cash in the window to reassure people that they still have their money and stave off a run on the bank.

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"it doesn't work like that..." :lol:

http://www.youtube.com/watch?v=cmTTo0oqnac

:lol::lol::lol:

If I had to put money on someone going bust it would be them.

Smacks of a desperate attempt to prevent a run to me. I wouldn't touch them. Getting an extra 0.5% isn't worth the risk of losing nearly 10% and the hassle. I'd rather see them liquidated.

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:lol::lol::lol:

If I had to put money on someone going bust it would be them.

Smacks of a desperate attempt to prevent a run to me. I wouldn't touch them. Getting an extra 0.5% isn't worth the risk of losing nearly 10% and the hassle. I'd rather see them liquidated.

Probably be worth losing £3300 because if they go bust the housing market is toast.

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