Kaupthing Edge 10% savings account did anyone take it up?

oldandgrumpy

Jonbvn wrote: »

Just to correct the above:
6 month term account: 6.97% AER
12 & 36 month term accounst: 7.15% AER

http://www.kaupthingedge.co.uk/About/News/TermRateIncrease.aspx

The 36 month term is even more, gross, but see my post on 36 month termed accounts.

Jonbvn

oldandgrumpy wrote: »

The 36 month term is even more, gross, but see my post on 36 month termed accounts.

I do not see the benefit of the 3-year fix, since the AER is the same for the 1-year fix. Furthermore, as you state in your other post since interest on the 3 year fix is paid at the end of the term, it may have tax implications. It certainly does for us, since my wife is a non-tax payer.

LongTermLurker

Jonbvn wrote: »

Originally Posted by horsemadmoodymare
You're right, the paperwork says 6.50% AER and its not an ISA but they do have a fixed term account with 6.86%AER.

Just to correct the above:
6 month term account: 6.97% AER
12 & 36 month term accounst: 7.15% AER

http://www.kaupthingedge.co.uk/About/News/TermRateIncrease.aspx

6.5% was the original No Notice rate, with 6.86% being the original 12month Term deposit, so OP probably has a lower rate - not wrong, just superceded

horsemadmoodymare

LongTermLurker wrote: »

6.5% was the original No Notice rate, with 6.86% being the original 12month Term deposit, so OP probably has a lower rate - not wrong, just superceded

Either way, I haven't put any cash in there yet, still have it in normal ISA with Halifax which is abou 5% I think. I believe thats better pay back because of not paying tax on it??????????? But am looking for a better interest rate on an ISA if anyone knows of any?

I put money in every month but would need to take out money a few times a year, although a lump sum could sit in a fixed rate account but no regular saving going in, unless anyone has any better ideas?????????????????????

LongTermLurker

horsemadmoodymare wrote: »

Either way, I haven't put any cash in there yet, still have it in normal ISA with Halifax which is abou 5% I think. I believe thats better pay back because of not paying tax on it???????????

Yes, exactly. The 6.5% no notice nets down to 5.2% at 20% tax and 3.9% at 40% tax. You can get plenty of cash ISAs over 6% but not sure of the terms. Once you've filled your ISA though, the top paying taxed accounts are a sure bet.

jennifernil

horsemadmoodymare wrote: »

Either way, I haven't put any cash in there yet, still have it in normal ISA with Halifax which is abou 5% I think. I believe thats better pay back because of not paying tax on it??????????? But am looking for a better interest rate on an ISA if anyone knows of any?

I put money in every month but would need to take out money a few times a year, although a lump sum could sit in a fixed rate account but no regular saving going in, unless anyone has any better ideas?????????????????????

I have transferred my Halifax ISA to Icesave, it is paying 6.1%. All went through in a matter of days.