Bradford & Bingley Savings
 |  Compare Bradford & Bingley savings details against other savings or use our savings comparison tables.Did you know Bradford & Bingley also provide travel insurance and breakdown cover? | ||
| Company: | Bradford & Bingley www.bradfordandbingley.co.uk | Bradford & Bingley www.bradfordandbingley.co.uk | Bradford & Bingley www.bradfordandbingley.co.uk |
| Product: | 6 Month Fixed Term eBond Issue 35 | Rate for Life - Branch | 1 Year Fixed Rate eISA Issue 4 |
| details | details | details | |
| Apply via this site: | Not available | Not available | Not available |
| | | |
| Savings Details | |||
 Account Type: | Term | Instant Access | Cash ISA |
| Rate Type: | fixed | bbr | fixed |
| Headline Interest Rate: | 6.5% | 5.25% | 6.25% |
| Interest Rate Guarantees: | n/a | = bbr plus 0.25% | n/a |
| Application Criteria | |||
| Existing Customer Only: | no | no | no |
| Minimum Age: | 18 | 18 | 18 |
| Restricted Availability: | no | no | no |
| Area Restrictions: | none | none | none |
| Minimum Investment: | £1,000 | £1,000 | £3,600 |
| Maximum Investment: | £2,000,000 | £500,000 | n/a |
| Minimum Balance: | £1,000 | £1 | £3,600 |
| Maximum Investment pa: | n/a | n/a | 3600 |
| Maximum Balance: | n/a | n/a | 3600 |
| Introductory Rates | |||
| Introductory Bonus: | 0% | 0% | 0% |
| Incentives Offered: | no | no | no |
| Rates | |||
| Tax Free: | no | no | yes |
| Open-ended Bonus: | 0% | 0% | 0% |
| Rate Tiers: | no | no | no |
| Fixed Term: | 6 months | n/a | n/a |
| Fixed Term in Months: | 6 | n/a | n/a |
| Fixed Interest Rate: | yes | n/a | yes |
| Fixed Rate Period: | 6 months | n/a | n/a |
| Term Period: | 6 | n/a | 12 |
| Maturity Date: | n/a | n/a | 1 year |
| Maturity Date in Months: | n/a | n/a | 12 |
| Interest Payment Freq: | choice | choice | annually |
| Managing Account | |||
| Instant: | n/a | yes | n/a |
| Passbook: | no | yes | no |
| Transactions at Branch: | no | on-line | yes |
| Statement Frequency: | quarterly | no | annually |
| Transactions by Phone: | no | no | no |
| Transactions by Internet: | no | no | no |
| Transactions by Post: | no | yes | no |
| Special Access: | yes | no | yes |
| Withdrawal Conditions: | yes | no | yes |
| Transfers In: | n/a | n/a | no |
| Transfers Out: | n/a | n/a | yes |
| Closure Before Maturity: | no | n/a | n/a |
| Transferred on Maturity: | eBond Maturity Account | n/a | n/a |
| Fees & Charges | |||
| Penalty on all Wdls: | n/a | no | n/a |
| Trans Notice/Pen/Charge: | n/a | n/a | notice & penalty |
| Transfer Notice: | n/a | n/a | 30 |
| Transfer Penalty: | n/a | n/a | 90 |
| Transfer Charge: | n/a | n/a | 0 |
| Withdrawal Notice: | term | n/a | term |
Compare Bradford & Bingley Savings
B&B Nationalisation 'Will be Paid For by Taxpayer'
Further details have emerged of the government's takeover of Bradford & Bingley (B&B).
Earlier this week, the treasury announced that ownership of the beleaguered lender's £50 billion mortgage book would be passing into public hands, while financial services firm Santander had agreed to take on its branch network and its retail deposits.
Chancellor of the exchequer Alistair Darling has agreed for the taxpayer to bear the burden of the £14 billion needed to cover B&B through the Financial Services Compensation Scheme (FSCS) - which guarantees £35,000 of savings for each depositor. However, this liability will soon be transferred to high street banks, the Guardian reports.
For its part, the FSCS - which is funded by the banks - has just £5 million left from its levy last year. It has indicated that it will call on banks for an extra £450 million next September in order to meet the interest payments on Mr Darling's £14 billion B&B loan.
The situation is further complicated by Santander, who has received £4 billion from the chancellor in order to guarantee the deposits of those B&B customers not covered by the FSCS scheme.
Commenting on the nationalisation, Mr Darling said: "The first way of redeeming the costs that we are incurring comes from redeeming the assets of B&B. If that isn't enough, then there will be a claim under the compensation scheme."
The chancellor also indicated that it might be difficult for the government to wind down B&B's mortgage book by encouraging its customers to move elsewhere. "It does have more buy to let and self-certification mortgages - where, frankly, people just said what they earned and that figure was taken as fact - than we would like," he admitted.
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