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  • FIRST POST
    • makemerich12
    • By makemerich12 14th Oct 16, 9:45 PM
    • 47Posts
    • 12Thanks
    makemerich12
    Best isa for me?
    • #1
    • 14th Oct 16, 9:45 PM
    Best isa for me? 14th Oct 16 at 9:45 PM
    I currently have £7k saved up in a isa with my bank hsbc getting 0.70 aer each month putting away roughly 450 a month away.

    My Goal is to hopefully in years to come own a house/flat or just look after my nephews future
Page 1
    • joujou
    • By joujou 14th Oct 16, 10:12 PM
    • 124 Posts
    • 78 Thanks
    joujou
    • #2
    • 14th Oct 16, 10:12 PM
    • #2
    • 14th Oct 16, 10:12 PM
    how far away is that future?

    do you or have you owned a home in the past?
    • makemerich12
    • By makemerich12 14th Oct 16, 10:17 PM
    • 47 Posts
    • 12 Thanks
    makemerich12
    • #3
    • 14th Oct 16, 10:17 PM
    • #3
    • 14th Oct 16, 10:17 PM
    how far away is that future?

    do you or have you owned a home in the past?
    Originally posted by joujou
    Well i'm currently 27 earning around 1k a month, i've not yet bought anything (Bare a car) just rented a flat and hope to keep building funds to help
    • jimjames
    • By jimjames 14th Oct 16, 11:39 PM
    • 10,841 Posts
    • 8,913 Thanks
    jimjames
    • #4
    • 14th Oct 16, 11:39 PM
    • #4
    • 14th Oct 16, 11:39 PM
    I currently have £7k saved up in a isa with my bank hsbc getting 0.70 aer each month putting away roughly 450 a month away.

    My Goal is to hopefully in years to come own a house/flat or just look after my nephews future
    Originally posted by makemerich12
    ANy particular reason why you want to accept 0.7% AER when you could get 5x that very easily if not more.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • makemerich12
    • By makemerich12 15th Oct 16, 7:35 PM
    • 47 Posts
    • 12 Thanks
    makemerich12
    • #5
    • 15th Oct 16, 7:35 PM
    • #5
    • 15th Oct 16, 7:35 PM
    ANy particular reason why you want to accept 0.7% AER when you could get 5x that very easily if not more.
    Originally posted by jimjames
    I had a review with my bank and sadly got sold it was a good deal who offers 5x more?
    Last edited by makemerich12; 15-10-2016 at 8:27 PM.
    • jimjames
    • By jimjames 16th Oct 16, 12:41 PM
    • 10,841 Posts
    • 8,913 Thanks
    jimjames
    • #6
    • 16th Oct 16, 12:41 PM
    • #6
    • 16th Oct 16, 12:41 PM
    I had a review with my bank and sadly got sold it was a good deal who offers 5x more?
    Originally posted by makemerich12
    Plenty of places. Unfortunately your bank will only sell you their own products and ISAs don't pay the best rates. You may need to use a couple of accounts to get the best deal, Nationwide pay 5% as do TSB currently. Check out the best savings threads on the main Savings forum here.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • makemerich12
    • By makemerich12 17th Oct 16, 9:30 PM
    • 47 Posts
    • 12 Thanks
    makemerich12
    • #7
    • 17th Oct 16, 9:30 PM
    • #7
    • 17th Oct 16, 9:30 PM
    The best rate i can find is 3.50% from nationwide with the £5k i can start with and the £500 i can put in monthly afterwards.Question is do i quit hsbc now or wait till the new isa rates come out in the new year?
    • TheShape
    • By TheShape 17th Oct 16, 10:56 PM
    • 445 Posts
    • 224 Thanks
    TheShape
    • #8
    • 17th Oct 16, 10:56 PM
    • #8
    • 17th Oct 16, 10:56 PM
    The best rate i can find is 3.50% from nationwide with the £5k i can start with and the £500 i can put in monthly afterwards.Question is do i quit hsbc now or wait till the new isa rates come out in the new year?
    Originally posted by makemerich12
    I can't see any account with Nationwide that will allow you to save £5k at 3.5%.

    The only account paying 3.5% is a young person's regular saver.

    Their FlexDirect account will pay 5% up to £2500 if you pay-in £1000 p/m.
    • jimjames
    • By jimjames 17th Oct 16, 11:09 PM
    • 10,841 Posts
    • 8,913 Thanks
    jimjames
    • #9
    • 17th Oct 16, 11:09 PM
    • #9
    • 17th Oct 16, 11:09 PM
    Their FlexDirect account will pay 5% up to £2500 if you pay-in £1000 p/m.
    Originally posted by TheShape
    And the regular saver 5% for paying in £500 per month so that will let you pay in £6000 over the year
    Remember the saying: if it looks too good to be true it almost certainly is.
    • makemerich12
    • By makemerich12 18th Oct 16, 4:53 PM
    • 47 Posts
    • 12 Thanks
    makemerich12
    I can't see any account with Nationwide that will allow you to save £5k at 3.5%.

    The only account paying 3.5% is a young person's regular saver.

    Their FlexDirect account will pay 5% up to £2500 if you pay-in £1000 p/m.
    Originally posted by TheShape
    Damn i've just looked after seeing this it pay to read looks like i'm off to find a new one
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