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MBNA SBT promotion - need High interest savings account!

caj2310
caj2310 Posts: 18 Forumite
in Stoozing: free cash from credit cards
Hi,
Just received this promotion on my existing MBNA Platinum card...

0.0% until March 2009 on all balance transfers to a current account providing you complete a balance transfer to a current account before 5 August 2008

A transfer handling fee will apply of 3.0% of the transaction (minimum of £3.00)

So basically 10 months interest free for 3% fee.. Not sure what the minimum payments are though...anyone know?

I have a £27k limit, so looking for the best interest rate savings account to make some cash out of this...!!
Any ideas?

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    caj2310 wrote: »
    A transfer handling fee will apply of 3.0% of the transaction (minimum of £3.00)
    Getting them to waive it (or even cap it) will make you an extra £800 (as a basic rate tax payer...which it doesn't sound like you are with that limit).
    Not sure what the minimum payments are though...anyone know?
    Try your own T&C's? It'll be somewhere between £5 and £25 per month...but your first payment will be around £770 if you can't get it waived/capped.
    ...looking for the best interest rate savings account to make some cash out of this...!!
    Any ideas?
    The savings & investment board? www.moneyfacts.co.uk?

    6.5% AER is possible with no strings at A&L and Birmingham Midshires though.

    You may find this stoozing profit calculator useful...

    http://www.stoozing.com/calc.htm
  • caj2310
    caj2310 Posts: 18 Forumite
    YorkshireBoy wrote: »
    Getting them to waive it (or even cap it) will make you an extra £800 (as a basic rate tax payer...which it doesn't sound like you are with that limit).Try your own T&C's? It'll be somewhere between £5 and £25 per month...but your first payment will be around £770 if you can't get it waived/capped.The savings & investment board? www.moneyfacts.co.uk?

    6.5% AER is possible with no strings at A&L and Birmingham Midshires though.

    You may find this stoozing profit calculator useful...

    http://www.stoozing.com/calc.htm


    Thanks!!

    Just checked min payment is £5 but didnt realise I'd need to pay the BT fee in month 1....off to push for a reduction!
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