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Post Office ISA - 6.25%*
mr113
Posts: 16 Forumite
Found some inside information regarding the Post Office ISA which launches tomorrow morning. I have been aware that one is launching soon for some time, however I found out yesterday that the interest rate will be 6.25% (including a 12 month bonus of 1.5%), will track the base rate until 2010 I think, and is guaranteed never to be below 1% of the base rate for the life of the account.
Minimum investment £1
The top rate paying ISA at the moment is with B&B, but this requires a full 3,600 minimum investment. The HSBC account pays 6.25% also, and this is guaranteed to 2009 I think.
The Post Office ISA may be suitable for those who will hold the account for a year, and then be willing to look for a better deal.
They are also offering a S&S ISA with a min. deposit of £10.
Minimum investment £1
The top rate paying ISA at the moment is with B&B, but this requires a full 3,600 minimum investment. The HSBC account pays 6.25% also, and this is guaranteed to 2009 I think.
The Post Office ISA may be suitable for those who will hold the account for a year, and then be willing to look for a better deal.
They are also offering a S&S ISA with a min. deposit of £10.
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Comments
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Do you know if you can transfer existing Post Office ISAs into it? (I have been lazy and havent got round to transferring them elsewhere)0
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As far as I know transfers in and out are permitted. Leaflets and application forms should be available in branches from tomorrow.0
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There is nothing on the website about this ISA yet.0
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They have obviously updated their site - it wasn't there earlier.0 -
They accept transfers in, quote from their Key Facts info http://www.postofficeisa.co.uk/pdf/KeyFactsCashISA.pdf:When will my Account open?
We will open your Account when:
we receive a valid application and a subscription; or,
if you are transferring an ISA to us, a transfer application, a transfer value and a valid transfer form from your existing provider.Mortgage Free thanks to ill-health retirement0 -
My cash ISA with Halifax will mature in October and I'm thinking of transferring it to this Post office ISA account. However on the online post office application form, I couldn't find where to indicate that I would like to transfer my ISA from Halifax.Trying_to_be_good wrote: »They accept transfers in, quote from their Key Facts info http://www.postofficeisa.co.uk/pdf/KeyFactsCashISA.pdf:When will my Account open?
We will open your Account when:
we receive a valid application and a subscription; or,
if you are transferring an ISA to us, a transfer application, a transfer value and a valid transfer form from your existing provider.
Any advice would be much appreciated.0 -
Have you got the correct form? There are often two forms; one for a new subscription and one for a transfer.0
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Have you got the correct form? There are often two forms; one for a new subscription and one for a transfer.
Thanks for your answer. I've phoned them up -- apparently there is no ISA transfer form online. One has to request one on the phone (which I've just done). Hope that information is useful to others.0 -
Ive just called to request a form and been told because Id already made the full £3600 allowance for this year into my existing ISA, I cant open an account with them as they need an initial amount to open it with i.e £1 - they dont class the transfer as the initial deposit.Thanks to everyone who posts comps :T0
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