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Pete95

Check Your Isa Interest Rates

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Decided to check the interest rate on my Northern Rock ISA which has about 12.5k in it.

The rate is 4.15% AER if you have over 12k in the account, but then I noticed in the smallprint this INCLUDES a 0.7% 6month introductory bonus!!!

So the actual rate is a mere 3.45% AER!!!! :o

So its returning less than my ING account after tax - even after they slash rates again to 4.5%!!

Annual interest has just been paid into my account, so Im moving the money ASAP. I suggest others check their accounts interest rates.

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Decided to check the interest rate on my Northern Rock ISA which has about 12.5k in it.

The rate is 4.15% AER if you have over 12k in the account, but then I noticed in the smallprint this INCLUDES a 0.7% 6month introductory bonus!!!

So the actual rate is a mere 3.45% AER!!!! :o

So its returning less than my ING account after tax - even after they slash rates again to 4.5%!!

Annual interest has just been paid into my account, so Im moving the money ASAP. I suggest others check their accounts interest rates.

Do remember when you take money out of your ISA you cannot put it back in. So moving it to an ING account is probably a bad idea. Look on money saving expert for the best ISA rates!

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Yeah Im going to transfer into another ISA account - probably B&B, however on their site it says you need to fill out a transfer form which can be found on the "maintenance" section of the site?!!! Looked everywhere and cant find that section!

Might have to just put it in the halifax one which offers 5%.

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Do remember when you take money out of your ISA you cannot put it back in. So moving it to an ING account is probably a bad idea. Look on money saving expert for the best ISA rates!

I second the warning.. if you take cash out you lose the tax free benefit. Always open a new ISA and ask your new provider to transfer your ISA from your current provider.

Also, when you sign up for an ISA don't just look at the current rate but check if it includes a bonus (probably avoid as Pete95 has found) or guarantees of paying above the base rate for the term (Good).

For example last tax year M&S guaranteed base+0.5%, this year a number of providers guaranteed base+0.25%. Transfering now you may not get such a deal, but when the next tax year starts.. look for the guarantees.

Edited by beerhunter

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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