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Reviews for Julian Hodge Bank

Average User Review Ratings for Savings Account products

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Service: Savings Account Product: Capital Millennium Bond

Review by Islaylassie submitted on 24 January 2010

Likes: Consistent rate of interest from year to year, phones answered by a real person no annoying menu to negotiate, can apply online initially, maturity value can be paid out by BACS

Dislikes: The present 3.25% for a 1yr bond is not the highest interest rate on offer

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I opened my first Capital Millennium Bond with Julian Hodge Bank a few years ago. When it matured the funds were paid promptly into my bank account by BACS. As our post here is delivered only once a week, I'm fed up with providers that insist on sending maturity funds by cheque - you lose too much interest while waiting for the cheque to arrive and then waiting for a chance to bank it, followed by another 2-4 days waiting for it to clear. You have to send your maturity instructions by post (on a form provided by Julian Hodge together with postage-paid return envelope), but they send them out 3 to 4 weeks before the maturity date so there's plenty of time.

I've just opened another 1yr bond and was pleased to find the same level of obliging customer service on the other end of a phone. This is the best thing about dealing with Julian Hodge - the telephone is answered by a real person who gives you his/her full name and looks out for any correspondence you subsequently send about the query. No annoying menu to negotiate and no long wait listening to someone else's choice of tinny music interrupted by regular reminders that your call is valuable and will be answered as soon as an operator becomes available, while you're being charged at some exorbitant rate for the call.

The current interest rate on the 1 yr bond is 3.25% gross - not the top rate available but they do seem to offer a consistently reasonable rate and sometimes appear in the best buy tables.

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