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First Direct Cash ISA Rate
slhqoue
Posts: 150 Forumite
Hi there,
For First Direct's Cash ISA it lists a variety of interest rates depending on how much money is in your ISA.
Balance AER Tax free
£1 - £4,999 1.30% 1.29%
£5,000 - £9,999 1.50% 1.49%
£10,000 - £19,999 1.70% 1.69%
£20,000 - £39,999 1.85% 1.83%
£40,000 and over 2.00% 1.98%
My question is, do these rates apply to the entire amount of money in your ISA if you hit a new bracket, or just to the amount of money that's in that bracket?
E.g., if you have £5500 in your ISA would you get all interest at 1.5% or would you get £4,999 at 1.3% and the rest (£501) at 1.5%?
Thanks for your help!
For First Direct's Cash ISA it lists a variety of interest rates depending on how much money is in your ISA.
Balance AER Tax free
£1 - £4,999 1.30% 1.29%
£5,000 - £9,999 1.50% 1.49%
£10,000 - £19,999 1.70% 1.69%
£20,000 - £39,999 1.85% 1.83%
£40,000 and over 2.00% 1.98%
My question is, do these rates apply to the entire amount of money in your ISA if you hit a new bracket, or just to the amount of money that's in that bracket?
E.g., if you have £5500 in your ISA would you get all interest at 1.5% or would you get £4,999 at 1.3% and the rest (£501) at 1.5%?
Thanks for your help!
0
Comments
-
Hi there,
For First Direct's Cash ISA it lists a variety of interest rates depending on how much money is in your ISA.
Balance AER Tax free
£1 - £4,999 1.30% 1.29%
£5,000 - £9,999 1.50% 1.49%
£10,000 - £19,999 1.70% 1.69%
£20,000 - £39,999 1.85% 1.83%
£40,000 and over 2.00% 1.98%
My question is, do these rates apply to the entire amount of money in your ISA if you hit a new bracket THIS, or just to the amount of money that's in that bracket?
E.g., if you have £5500 in your ISA would you get all interest at 1.5% or would you get £4,999 at 1.3% and the rest (£501) at 1.5%?
Thanks for your help!
Whole balance.0 -
If you have £5500 then an ISA is not a good place to get the best rates when 5% available outside.Remember the saying: if it looks too good to be true it almost certainly is.0
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Could you clarify? What do you mean 5% available outside?0
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Could you clarify? What do you mean 5% available outside?
Current accounts. TSB Plus pays 5% on balances up to £2000 and you can have 2 of these accounts. Nationwide FlexDirect pays 5% on balances up to £2500 for 1 year.
Both of the above require you to meet certain conditions such as paying in £500/£1000 a month.0
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