Kaupthing Edge 10% savings account did anyone take it up?

[horsemadmoodymare]

Hi, I opened the above account but haven't transferred any money in yet, bit reluctant to do so as its not a british bank and under the current climate. Does anyone have any advice for me please?

[ryanguevara1983]

The Kaupthing Edge account is operated by a UK company, Kaupthing, Singer & Friedlander, so the Financial Services Compensation Scheme (FSCS) provides the same protection as for any other UK bank.

That means anything up to £35,000 is safe - if you've got any more than that, you're too rich - give me some!

[ryanguevara1983]

Also, Halifax have got a 10% rate for a year, if you'd feel happier with a high street bank - but I think it closes in a few days.

[dean_ham]

10% where? highest 12 month period i can find is 7.15%

im on the 6.5% savings, havent had a problem with them and as the above post said you are covered upto £35,000

[ryanguevara1983]

Hurry up - you've got til the 20th to open it!:

http://www.halifax.co.uk/savings/regularsaver.asp

[horsemadmoodymare]

I believe the Kaupthing Edge was an ISA???????????????

[LongTermLurker]

Hi, I opened the above account but haven't transferred any money in yet, bit reluctant to do so as its not a british bank and under the current climate. Does anyone have any advice for me please?
Excuse me? 10%? :eek:

The interest rates (http://www.kaupthingedge.co.uk/our-products/interest-rates.aspx) page doesn't list anything above 7.15% AER and there's no mention of an ISA on the website - an ISA at 10% would be an interesting concept in itself...

If this account exists, please could you post further details, including a link?

[Sebby*]

Also, Halifax have got a 10% rate for a year, if you'd feel happier with a high street bank - but I think it closes in a few days.

But it's a regular saver so only £500/month can be deposited. That said, I don't believe Kaupthing Edge do a 10% account anyway...

[horsemadmoodymare]

It was on one of Martins news emails about a month to six weeks ago????? Will dig out my paperwork and get back to you all.

[horsemadmoodymare]

You're right, the paperwork says 6.50% AER and its not an ISA but they do have a fixed term account with 6.86%AER.

[Jonbvn]

You're right, the paperwork says 6.50% AER and its not an ISA but they do have a fixed term account with 6.86%AER.

Just to correct the above:
6 month term account: 6.97% AER
12 & 36 month term accounst: 7.15% AER

http://www.kaupthingedge.co.uk/About/News/TermRateIncrease.aspx

[oldandgrumpy]

Just to correct the above:
6 month term account: 6.97% AER
12 & 36 month term accounst: 7.15% AER

http://www.kaupthingedge.co.uk/About/News/TermRateIncrease.aspx

The 36 month term is even more, gross, but see my post on 36 month termed accounts.

[Jonbvn]

The 36 month term is even more, gross, but see my post on 36 month termed accounts.

I do not see the benefit of the 3-year fix, since the AER is the same for the 1-year fix. Furthermore, as you state in your other post since interest on the 3 year fix is paid at the end of the term, it may have tax implications. It certainly does for us, since my wife is a non-tax payer.

[LongTermLurker]

Originally Posted by horsemadmoodymare http://forums.moneysavingexpert.com/images/buttons/viewpost.gif (http://forums.moneysavingexpert.com/showthread.html?p=12595223#post12595223)
You're right, the paperwork says 6.50% AER and its not an ISA but they do have a fixed term account with 6.86%AER.
Just to correct the above:
6 month term account: 6.97% AER
12 & 36 month term accounst: 7.15% AER

http://www.kaupthingedge.co.uk/About/News/TermRateIncrease.aspx
6.5% was the original No Notice rate, with 6.86% being the original 12month Term deposit, so OP probably has a lower rate - not wrong, just superceded

[horsemadmoodymare]

6.5% was the original No Notice rate, with 6.86% being the original 12month Term deposit, so OP probably has a lower rate - not wrong, just superceded


Either way, I haven't put any cash in there yet, still have it in normal ISA with Halifax which is abou 5% I think. I believe thats better pay back because of not paying tax on it??????????? But am looking for a better interest rate on an ISA if anyone knows of any?

I put money in every month but would need to take out money a few times a year, although a lump sum could sit in a fixed rate account but no regular saving going in, unless anyone has any better ideas?????????????????????

[LongTermLurker]

Either way, I haven't put any cash in there yet, still have it in normal ISA with Halifax which is abou 5% I think. I believe thats better pay back because of not paying tax on it???????????
Yes, exactly. The 6.5% no notice nets down to 5.2% at 20% tax and 3.9% at 40% tax. You can get plenty of cash ISAs over 6% but not sure of the terms. Once you've filled your ISA though, the top paying taxed accounts are a sure bet.

[jennifernil]

Either way, I haven't put any cash in there yet, still have it in normal ISA with Halifax which is abou 5% I think. I believe thats better pay back because of not paying tax on it??????????? But am looking for a better interest rate on an ISA if anyone knows of any?

I put money in every month but would need to take out money a few times a year, although a lump sum could sit in a fixed rate account but no regular saving going in, unless anyone has any better ideas?????????????????????

I have transferred my Halifax ISA to Icesave, it is paying 6.1%. All went through in a matter of days.