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Icesaver introducing ISA from tomorrow

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Primrose
Primrose Posts: 10,703 Forumite
Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
in ISAs & tax-free savings
Have just read that Icesave will be introducing an ISA from tomorrow.
Paying 6.1% on balances over £1000.
They will also accept transfers in from other providers.

Another smack in the face for ING !!
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Comments

  • Lavendyr
    Lavendyr Posts: 2,610 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Fantastic! Do you have any idea on rate guarantees?
  • cloud_dog
    cloud_dog Posts: 6,326 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Lavendyr wrote: »
    Fantastic! Do you have any idea on rate guarantees?
    Read the article here:

    http://business.timesonline.co.uk/tol/business/money/savings/article3176413.ece

    0.3% above BoE base until 2011 and then 'at least' equal Boe base until 2013

    cloud_dog
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Lavendyr
    Lavendyr Posts: 2,610 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Just answered my own question with a quick Google - 03.% above Base rate until 31/01/11 and then to equal base rate until 2014. Brilliant!!

    http://business.timesonline.co.uk/tol/business/money/savings/article3176413.ece
  • Gambler
    Gambler Posts: 3,291 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    As I already have savings with ICesave, not sure whether transferring ISA to the same provider is a bit risky.
  • cloud_dog
    cloud_dog Posts: 6,326 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Gambler wrote: »
    As I already have savings with ICesave, not sure whether transferring ISA to the same provider is a bit risky.
    Depends if you exceed the £35k compensation limit, otherwise 100% guaranteed.

    cloud_dog
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Gambler
    Gambler Posts: 3,291 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    cloud_dog wrote: »
    Depends if you exceed the £35k compensation limit, otherwise 100% guaranteed.

    cloud_dog

    Yes i do exceed. Just read the article and Scarbourough looks interesting at 6.3%
  • cloud_dog
    cloud_dog Posts: 6,326 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Gambler wrote: »
    Yes i do exceed. Just read the article and Scarbourough looks interesting at 6.3%
    Just my opinion but I would consider looking to put some of it in to fixed offerings (1yr / poss 2yr) as interest rates are likely to continue to come down - depending on your situation.

    Having said that, I'm sure they'll go bacj up again at some point in the future :confused:

    cloud_dog
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • milla
    milla Posts: 298 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    Quote from the Times link :

    'You can pay up to £3,000 into a cash Isa in 2007-8, rising to £3,200 from April. '

    I thought it was £3600 ? Am I wrong ?
    Without the rain you wouldn't have the rainbows !

    I came into this world with nothing and I've still got most of it left!
  • Gambler
    Gambler Posts: 3,291 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    milla wrote: »
    Quote from the Times link :

    'You can pay up to £3,000 into a cash Isa in 2007-8, rising to £3,200 from April. '

    I thought it was £3600 ? Am I wrong ?


    No I thought 3,600 too:confused:
  • Lavendyr
    Lavendyr Posts: 2,610 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    It is £3, 600 - they seem to have gotten confused between £3,600 and £7,200 which is the new maxi ISA limit from April 08.
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