1 year fixed rate bond 4.30% (West Bromwich Building Society) - HotUKDeals
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1 year fixed rate bond 4.30% (West Bromwich Building Society)

£0.00 @ Testing
Not sure if this is classed as a deal but thought I would post it as it appears to be a market leading rate for a 1 yr fixed saving account. Features of the 'E Bond 21 (1 Year)' account Fixe…
Guzumper Avatar
7y, 11m agoFound 7 years, 11 months ago
Not sure if this is classed as a deal but thought I would post it as it appears to be a market leading rate for a 1 yr fixed saving account.

Features of the 'E Bond 21 (1 Year)' account
Fixed rate bond paying 4.30% (gross per annum / AER) to 31/05/2010.

A monthly income option (4.22% gross monthly - 4.30% AER) is also available for balances of £50,000 or over.

Minimum investment is £5,000. Maximum investment is £1,000,000 for single accounts and £2,000,000 for joint accounts

Interest is paid on maturity on 31/05/2010 or monthly (only available for balances of £50,000 or over)

No additional investments or withdrawals are allowed
Strictly limited offer - investments accepted on a first come first served basis
Please ensure that you read the Society's General Investment Terms and Conditions before opening your E Bond.

The account can be opened online using the APPLY NOW link or by downloading the PDF application pack. Once opened the account is operated by post or telephone
We are full members of the Financial Services Compensation Scheme (FSCS), which covers your savings up to £50,000 per individual.
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Guzumper Avatar
7y, 11m agoFound 7 years, 11 months ago
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#1
Got one of these last time they were available.
Get in quick they're usually only around for a few weeks.
banned#2
"Interest is paid on maturity on 31/05/2010 or monthly (only available for balances of £50,000 or over) "

Bit pointless then if they go under and you lose all your savings?
#3
Actually minimum investment is £5000.
Only if you opt for monthly interest then the minimum is £50000.
#4
if the bank of england raise the rates to fight off inflation, 4.3% wont be such a good deal.

for the given uncertainty and the required committment, you'll be better off investing only a fraction of 5k on a banking stock and achieve a similar level of pay off.
#5
lumoruk
"Interest is paid on maturity on 31/05/2010 or monthly (only available for balances of £50,000 or over) "

Bit pointless then if they go under and you lose all your savings?


As it states in the posting "We are full members of the Financial Services Compensation Scheme (FSCS), which covers your savings up to £50,000 per individual" PS I'm a layman not a financier
#6
illumintai
if the bank of england raise the rates to fight off inflation, 4.3% wont be such a good deal.

for the given uncertainty and the required committment, you'll be better off investing only a fraction of 5k on a banking stock and achieve a similar level of pay off.


So is this the right time to invest in stocks and shares?
#7
nalag;4936678
As it states in the posting "We are full members of the Financial Services Compensation Scheme (FSCS), which covers your savings up to £50,000 per individual" PS I'm a layman not a financier

That only covers your money, not the interest you would be owed.
#8
nalag
So is this the right time to invest in stocks and shares?


I sense sarcasm !
#9
illumintai
if the bank of england raise the rates to fight off inflation, 4.3% wont be such a good deal.

for the given uncertainty and the required committment, you'll be better off investing only a fraction of 5k on a banking stock and achieve a similar level of pay off.


You miss the point of the post. The best recent rate till now on a one year bond has been the 3.4% - ish offered by M&S and the Post Office, so for a one year bond this is very good. Its only for a year and not much will happen to rates upwards in the next 12 months. I for one am going to stick some in here.
#10
Pretty good at the time being. But the report is today or tomorrow and meant to be doing something good for savers! About time.... last year i was getting near £25 a month on ISA now i get like £8. if that.
#11
Took out the halifax one last year in july at 10% interest rate . shame the max you can invest is £10000 due to mature this july:whistling:

http://www.hotukdeals.com/item/198245/10-interest-rate-on-halifax-regular/
#12
Be very very careful.

The complete Building Society sector was re-rated yesterday by Moodys, who are the city analysts.

This lot were downgraded to Baa3, which means it is one off junk status. Their rationale was that if the property recession saw a 40% drop in property values, then they MAY see very significant losses.

There is always the government guarantee, which in the past has kept everyone's savings safe, but ask yourself why they are paying these rates?? And you are tied in fro the duratrion of your investment.

I think I'll keep my savings in NS&I and Northern Rock. Sure I won't quite get the return, but the upside of the extra income isn't worth gambling with the downside of the potential capital loss, in my opinion.
#13
What potential capital loss? The capital is covered by the government guarantee!
#14
Up to £50,000, and you may have to wait for it. You wouldn't get a penny in interest either. It also assumes the scheme doesn't change.

Is it really worth all the heartache & grief?? Ask anyone who invested in Kaupthing and Icesave whether they are happy now.
#15
But you are going on the basis that building societies WILL go under.

Sorry, but in my opinion its scaremongering pure and simple. The risk is minimal.
#16
how about icici 4.10% fixed for 1 year. also covered by FSCS
http://www.icicibank.co.uk/
#17
A Building Society has never gone under, but Nationwide who have saved two have been told that their own ratings may be cut if they save another.

Nobody knows if they will fail, and I suppose it is highly unlikely that they will. All I'm saying is that go into this deal with your eyes wide open, we are in unchartered waters. I'm much happier and sleeping safe at night knowing my money is safe. You are making around an extra £100 above market rate on every £10k invested, that's all.

If you want to understand more look on http://www.thisismoney.co.uk this explains the situation, and gives an independent rating of all the deposit takers.
banned#18
MrShed;4937841
But you are going on the basis that building societies WILL go under.

Sorry, but in my opinion its scaremongering pure and simple. The risk is minimal.

+1 :thumbsup:

trying to open an account with 50K but just hangs. Guess it must be swamped already!
#19
Personally investing in banks in the current climate is quite interesting.
Just for a year or so I have decided to invest in the more stable banks and those where the gov have an interest even rbs,hbos,saga,aa, etc etc.
Better to earn at least some interest than none if the worst happens.
Funny how the gov didn't particularly want to help dunfirmline??? too much
Pete
Play it safe for a year or two guys

Oh and shares????? well RBS look a good buy
#20
Equaliser
Be very very careful.

The complete Building Society sector was re-rated yesterday by Moodys, who are the city analysts.

This lot were downgraded to Baa3, which means it is one off junk status. Their rationale was that if the property recession saw a 40% drop in property values, then they MAY see very significant losses.

There is always the government guarantee, which in the past has kept everyone's savings safe, but ask yourself why they are paying these rates?? And you are tied in fro the duratrion of your investment.

I think I'll keep my savings in NS&I and Northern Rock. Sure I won't quite get the return, but the upside of the extra income isn't worth gambling with the downside of the potential capital loss, in my opinion.



lol he who invests in NS&I has no clue. Enjoy your terrible rate and support of muppets like bob geldof and alan sugar. Grow some balls and put your money to work. I would sooner keep mine under my matrass than put it into a 1.3% ISA.

Christ, if you went around picking up pennies for a year you'd prob end up with more
banned#21
Was about to take this out until I read the T&Cs. Being an existing account holder of many years, I have to sign over any windfall from any future merger.

Wont bother now.
#22
Presumably this wont adversely affect new customers though csiman?
#23
Equaliser
Be very very careful.

The complete Building Society sector was re-rated yesterday by Moodys, who are the city analysts.


As well as Nationwide, Moody’s downgraded Chelsea Building Society, West Bromwich, Principality, Newcastle, Skipton, Yorkshire, Norwich & Peterborough and Coventryhttp://www.timesonline.co.uk/tol/money/property_and_mortgages/article6102212.ece

I've got accounts with all those (except Principality) Society's :w00t:
#24
i think sticking £500 in a banking stock now and hoping for it to double in a year is a better bet than a sure 4.3% return with minimum investment of £5000. Your risk loving behaviour will be rewarded by the freely available to use £4500 (the difference between 5000 and 500) now and the obvious higher return on 10%.
#25
Diekund
lol he who invests in NS&I has no clue. Enjoy your terrible rate and support of muppets like bob geldof and alan sugar. Grow some balls and put your money to work. I would sooner keep mine under my matrass than put it into a 1.3% ISA.

Christ, if you went around picking up pennies for a year you'd prob end up with more


That's why I'm a Bank Manager.
#26
Equaliser - that doesnt mean anything, no offence. I know a couple of bank managers and yes they know finances, but they dont know the financial market as a whole, there is simply no need to in that role.

I'm not sure I agree with the sentiments of "grow some balls" etc etc, but it is obvious that there are better, and just as REALISTICALLY safe savings/investments, as NSI.

Ultimately, investment and saving is about risk limitation not risk removal entirely. You know you the chances are absolutely minimal of losing your money investing in, for example, one of the big high street banks - and you will get a significantly higher interest rate.

Yes, there is a risk, but it is tiny. Every time I step out of the house, there is a risk of getting hit by a car - but I dont stop leaving the house.
#27
Equaliser;4937827
Up to £50,000, and you may have to wait for it. You wouldn't get a penny in interest either. It also assumes the scheme doesn't change.

Is it really worth all the heartache & grief?? Ask anyone who invested in Kaupthing and Icesave whether they are happy now.

What UK based private saver in a British financial institution has lost any capital recently due to a collapse of that institution?

Ask savers of the Dunfirmline Building Society, the Halifax, Northern Rock, etc rather than some foreign company.

The precedent has now been set by our government.
#28
Equaliser;4938365
That's why I'm a Bank Manager.

:-D
#29
Premier
What UK based private saver in a British financial institution has lost any capital recently due to a collapse of that institution?

Ask savers of the Dunfirmline Building Society, the Halifax, Northern Rock, etc rather than some foreign company.

The precedent has now been set by our government.


Good point well made.
#30
nalag
So is this the right time to invest in stocks and shares?


I think you will find a bond is not stocks or shares, it is just another form of savings.
#31
Equaliser
That's why I'm a Bank Manager.


and thats why i am an investment analyst. congrats on working really hard as a teller for many years
banned#32
Equaliser;4938365
That's why I'm a Bank Manager.

:w00t: I would have kept that under my hat if I wanted people to take my financial advice seriously!
banned#33
csiman;4938312
Was about to take this out until I read the T&Cs. Being an existing account holder of many years, I have to sign over any windfall from any future merger.

Wont bother now.


MrShed;4938322
Presumably this wont adversely affect new customers though csiman?

No it won't. Just pointing out that existing WBBS account holders will be waiving their windfall rights by taking out one of these accounts.

Might still go for it though as my tesco saver pays 3.0% at the moment so an extra 1.3% on 50K yields another £650p.a.
#34
Diekund
and thats why i am an investment analyst. congrats on working really hard as a teller for many years


Handbags!!! :D
#35
Diekund
lol he who invests in NS&I has no clue. Enjoy your terrible rate and support of muppets like bob geldof and alan sugar. Grow some balls and put your money to work. I would sooner keep mine under my matrass than put it into a 1.3% ISA.

Christ, if you went around picking up pennies for a year you'd prob end up with more



what about Premium Bonds ??? any good , are they a sound investment at present ...say £10,000 worth ??
#36
Premium bonds are known as a really really poor investment.

The return is appalling.

dont do it!
banned#37
mikbish;4938752
what about Premium Bonds ??? any good , are they a sound investment at present ...say £10,000 worth ??

no - they are rubbish (return is around 1%)
#38
mikbish
what about Premium Bonds ??? any good , are they a sound investment at present ...say £10,000 worth ??


Premium bonds are a waste of time IMO. They pay no interest and you "Win" your return through their monthly draws. They are more for people who enjoy the gambling element of it. If you check moneysavingexpert.com i believe they have an odds calculator.
#39
ok , thanks... just that I have approx £12,000 to invest but don't want to take a risk !! It was in a safety net fund but that was closed last week by the society...!
banned#40
mikbish;4938845
ok , thanks... just that I have approx £12,000 to invest but don't want to take a risk !! It was in a safety net fund but that was closed last week by the society...!

then this account is ideal for you. best rate by far and no risk.

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