We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
First Direct to launch 6.25% mini cash ISA
Options
Kazza242
Posts: 2,198 Forumite
According to Money Mail (Wed 9th Feb 2005), First Direct will launch its internet-based cash mini E-Isa at 6.25% later this month.
Although, this rate is only payable for 8 months. After that your money will earn the variable rate payable on its existing telephone accounts - which is currently an uncompetitive 4.5%.
You can find a link to the story here.
Although, this rate is only payable for 8 months. After that your money will earn the variable rate payable on its existing telephone accounts - which is currently an uncompetitive 4.5%.
You can find a link to the story here.
Please call me 'Kazza'.
0
Comments
-
Excellant !
Little details yet, but looks good for a transfer in and then out after 8 months, Say a £10k ISA against a 5.4% available rate and taking off 8 days for the transfers would result in a net benefit of about £45 extra interest.0 -
Great link
The article warns about the transfer fee on the A&L isa which is good.
But I just discovered from that article that my portman ISA has a similar fee (£30). I fell for that when I was a little less wise!
The first direct option looks good but I am a little reticent about transfering ISAs so often0 -
It's a good headline rate, but I think we need to hold back and wait for the T&C. It's a lot higher then anything else on offer and its unlike FD to offer such a high rate of interest. Remember that their e-savings account will not pay interest in any month where a withdrawal is made. I suspect there will be a similar condition on this for there to be such a high interest rate.0
-
oh how im kicking myself that i didnt take advantage of NR 6 percenter
0 -
Aaahhh the 6% fixed for 4 years.... a nice little earner
0 -
The main "restriction" will be that you will not be able to operate it over the phone, it will have similar T&Cs to the fd e-savings account in that respect. Plus it's just an intro offer for a few months.isasmurf wrote:It's a good headline rate, but I think we need to hold back and wait for the T&C. It's a lot higher then anything else on offer and its unlike FD to offer such a high rate of interest. Remember that their e-savings account will not pay interest in any month where a withdrawal is made. I suspect there will be a similar condition on this for there to be such a high interest rate.
Oh, BTW, the 4.5% that was quoted in the original post for the standard fd cash ISA is incorrect, it's currently 4.35% AER, 4.28% p.a.0 -
i went in there got application forms and came back the next day to hand them in and they had withdrawn the product from the market ! one can only imagine how un happy i was at that moment.Aaahhh the 6% fixed for 4 years.... a nice little earner
and in my fury i ended up taking out a 4 year fixed 5.6% bond which seems like a decent idea now but to miss it by a day 0 -
oh no, I've only just joined the abbey one as I thouught it was the highest rate ISA out there (postal isa).[size=-5]Olympic 2007 challenge Started 9 Jan 2007[strike]Aim Silver 2007.00[/strike] Aim Gold 3007.00 Achieved so far:782[/size]
[size=-5]Feb 2007 Grocery Challenge[/size]
28th-03rdFeb £17.75
04th-10thFeb £13.31
11th-17thfeb £18.54
18th-24thfeb £17.19
25th-3rdmar £3.700 -
Caped_Avenger wrote:The main "restriction" will be that you will not be able to operate it over the phone, it will have similar T&Cs to the fd e-savings account in that respect. Plus it's just an intro offer for a few months.
Oh, BTW, the 4.5% that was quoted in the original post for the standard fd cash ISA is incorrect, it's currently 4.35% AER, 4.28% p.a.
Hmm, inside knowledge Caped Avenger? You seem to know a bit about it and are located in the same City as FD... any heads up to it's launch date?.. or does 2+2=5 and you have nothing to do with FD.0 -
I phoned first direct and asked them outright - apparently the 6.25% will be available from Monday. Probably best to fill yer boots in case they have to close it early (like some other places did last year)...0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.6K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.6K Work, Benefits & Business
- 598.4K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards