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Alliance & Leicester 10% ISA
ashleyhouse
Posts: 6 Forumite
I've just seen (and applied for quickly!) a 10% ISA with Alliance and Leicester. Martin doesn't seem to mention this on his best ISA article ... does anyone know why?
Here's a link to the offer:
http://www.alliance-leicester.co.uk/savings/index.asp?page=prem-isa&ct=savingshome:money:
:beer:
Here's a link to the offer:
http://www.alliance-leicester.co.uk/savings/index.asp?page=prem-isa&ct=savingshome:money:
:beer:
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Comments
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ashleyhouse wrote: »I've just seen (and applied for quickly!) a 10% ISA with Alliance and Leicester. Martin doesn't seem to mention this on his best ISA article ... does anyone know why?
Here's a link to the offer:
http://www.alliance-leicester.co.uk/savings/index.asp?page=prem-isa&ct=savingshome:money:
:beer:
1. You have to open their Premier Current Account to qualify.
2. In order to transfer in previous years' ISA funds, you have to put 50% or more of those transferred funds into a Stocks & Shares ISA.
Enough there to put me off.0 -
Out of curiosity, why is it enough to put you off opening the current account and using the 10% tax free that they're offering? It's not even like you have to use the account much, and in fact you could just set up standing orders for £500 per month between your "real" current account and the A+L one. With the free overdraft they offer, you could even turn the situation to your advantage!1. You have to open their Premier Current Account to qualify.
2. In order to transfer in previous years' ISA funds, you have to put 50% or more of those transferred funds into a Stocks & Shares ISA.
Enough there to put me off.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 -
The A&L Premier a/c details say "Make the most of our exclusive tax-free rate of 10.00% gross p.a./AER (variable) with our Premier ISA Issue 2 (available when you open and pay in your main income to a Premier Current Account)" - as my present current a/c is paying me a high percentage on around £6K of regular savings until August and I have no intention of transferring any of my hard-earned Cash ISA funds, which are in fixed rate products that offer good interest rates, into A&L's S&S ISA, I see no real benefit from opening an account for an extra couple of percentage points on £3,600 for a year.Out of curiosity, why is it enough to put you off opening the current account and using the 10% tax free that they're offering? It's not even like you have to use the account much, and in fact you could just set up standing orders for £500 per month between your "real" current account and the A+L one. With the free overdraft they offer, you could even turn the situation to your advantage!0 -
Which current account did you find that would pay high interest on up to £6k...? As far as I'm aware, I'm transferring out of the 2nd best current account (6.3% AER on up to £2500) and into the A+L one for the extra 3.5% tax free on more lump sums. There's nothing stopping me from continuing to use the interest bearing current account if I want, all I'd need to do is transfer in enough to keep both accounts active each month.The A&L Premier a/c details say "Make the most of our exclusive tax-free rate of 10.00% gross p.a./AER (variable) with our Premier ISA Issue 2 (available when you open and pay in your main income to a Premier Current Account)" - as my present current a/c is paying me a high percentage on around £6K of regular savings until August and I have no intention of transferring any of my hard-earned Cash ISA funds, which are in fixed rate products that offer good interest rates, into A&L's S&S ISA, I see no real benefit from opening an account for an extra couple of percentage points on £3,600 for a year.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 -
It's actually slightly less than 6k at the moment (£5800, or so but with another £1000 to go in before the rate ceases). I'm in the second year of Lloyds TSB's two-year current account-linked regular savings at 8% - the account is no longer available (certainly not as a two-year option, anyway).;)Which current account did you find that would pay high interest on up to £6k...?0 -
Wow, nice. I can certainly see why you'd not want to give that one up!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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