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NS&I Direct mini cash ISA rate cut w/e 6.4.08 - 5.55%
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Mee
Posts: 1,485 Forumite
Hi!
As this was until recently a top cash ISA, I hope you don't mind me flagging this cut which is listed in The Saturday Guardian Money Moneyfacts listing.
As this was until recently a top cash ISA, I hope you don't mind me flagging this cut which is listed in The Saturday Guardian Money Moneyfacts listing.
Free thinker.:cool:
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I think it's been discussed a couple of times before. Personally I think I'm going to close mine down and use it for a holiday this year. It's been good for the last couple of years, but I have a better use for it now
I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Hi!
As this was until recently a top cash ISA, I hope you don't mind me flagging this cut which is listed in The Saturday Guardian Money Moneyfacts listing.
While Aegis is correct that their have been discussions regarding NS&I reducing its rate guarantee from 5th April 2008, your post making everone aware of a new actual NS&I rate reduction is a welcome post. :T0 -
I misread the first time though!bristolleedsfan wrote: »While Aegis is correct that their have been discussions regarding NS&I reducing its rate guarantee from 5th April 2008, your post making everone aware of a new actual NS&I rate reduction is a welcome post. :T
This makes it even worse than we'd originally thought, but isn't much of a surprise given that this is now at the boundary of their rate guarantee...
Shame really!I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
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I misread the first time though!
This makes it even worse than we'd originally thought, but isn't much of a surprise given that this is now at the boundary of their rate guarantee...
Shame really!
I wasnt critizizing you
I just believed that the O/P should get credit for posting something that hadnt previously been posted.
NS&I/HMG have been cheeky though, if they wanted to be fair to its investors it could have announced its intended 6th April rate decrease at the same time as it announced the reduction in its rate guarantee.
As it is people are stuck with the lower rate until they can transfer their money out. ( those who havent already done so)
This is why im not a fan of keeping large amounts of Cash ISA funds in one place as at some point in all probability they will get a low rate on a large chunk of money. ( even if only for a month)
Next time Base Rates get decreased in all probability NS&I ISA rates will get reduced again. _pale_
Being cynical, perhaps the Government are hoping that NS&I ISA funds go from NS&I to Northern Rock. ( from one balance sheet to another )0 -
I saw it on the moneyfacts website last week but i don't think it had an effective date for the rate.
I cross-checked with nsandI.co.uk and that still said 5.8% so thought moneyfacts was incorrect.
I am hoping next week will have some good deals for the new year that allow transfers in.I beep for Robins - Beep Beep
& Choo Choo for trains!!0 -
OK, so where's a good place to transfer to?Stompa0
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Well this is Martins current article but things may change over the next few weeks.
http://www.moneysavingexpert.com/savings/best-cash-isaI beep for Robins - Beep Beep
& Choo Choo for trains!!0 -
bristolleedsfan wrote: »I wasnt critizizing you I just believed that the O/P should get credit for posting something that hadnt previously been posted.
NS&I/HMG have been cheeky though, if they wanted to be fair to its investors it could have announced its intended 6th April rate decrease at the same time as it announced the reduction in its rate guarantee.
As it is people are stuck with the lower rate until they can transfer their money out. ( those who havent already done so)
This is why im not a fan of keeping large amounts of Cash ISA funds in one place as at some point in all probability they will get a low rate on a large chunk of money. ( even if only for a month)
Next time Base Rates get decreased in all probability NS&I ISA rates will get reduced again. _pale_
Being cynical, perhaps the Government are hoping that NS&I ISA funds go from NS&I to Northern Rock. ( from one balance sheet to another )
I should have mentioned 'yet another cut'. I received an email from NS&I today, but whilst they mentioned a change date 6.4.08 which tallies with The Guardian, I couldn't see the new rate. I'm assuming The Guardian is correct and I'm starting the transfer process today....Free thinker.:cool:0 -
I should have mentioned 'yet another cut'. I received an email from NS&I today, but whilst they mentioned a change date 6.4.08 which tallies with The Guardian, I couldn't see the new rate. I'm assuming The Guardian is correct and I'm starting the transfer process today....
Yip I saw a newspaper ad today with new rate stated as u described. 0
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