Kaupthing Edge Interest rates - no brainer?

Tozer

Just looking at the interest rates on KE's fixed term products.

36 month rate is 7.67% gross. It has a 'break rate' for early withdrawals of 6.67%.

Given that the instant access rate is 6.36% gross, I'm struggling to find a downside of paying into the 3 year fixed term and, if necessary, closing it if I need the money earlier.

Upside is that the rate is fixed (unlike the instant access which is bound to fall) for the term...and pays a higher rate in any event.

Am I wrong?

sloughflint

I don't think they are available anymore despite looking as though they are from the online banking side of things. There is a thread on this somewhere.

http://forums.moneysavingexpert.com/showthread.html?t=1246919

Haven't checked recently to see if the people who tried were successful

Steve_xx

Kaupthing Edge, are no more.

debbie42

sloughflint wrote: »

There is a thread on this somewhere.

Sorry, but I couldn't help but smile at the thought of someone searching for "Kaupthing" on this forum.:rotfl:

Tozer

Steve_xx wrote: »

Kaupthing Edge, are no more.

Not 100% right. The savings accounts have been acquired by ING but the name is still operating.

I've actually just managed to open a 3 year fixed term account.

Tozer

debbie42 wrote: »

Sorry, but I couldn't help but smile at the thought of someone searching for "Kaupthing" on this forum.:rotfl:

You are absolutely right. No shortage of posts, just information...

bjorn_again

Tozer wrote: »

Not 100% right. The savings accounts have been acquired by ING but the name is still operating.

I've actually just managed to open a 3 year fixed term account.

How did you do that? I tried today and I got a msg saying something like "your application has been submitted". Did you do it on line or by phone?

sloughflint

Tozer wrote: »

You are absolutely right. No shortage of posts, just information...

I thought I'd provided you with a relevant thread titled "Kaupthing Fixed Deposit - No NEW accounts allowed"

bjorn_again wrote: »

How did you do that? I tried today and I got a msg saying something like "your application has been submitted". Did you do it on line or by phone?

According to that thread I linked to, people have tried and think they've been successful. There was uncertainty whether it had really worked though.

sloughflint

debbie42 wrote: »

Sorry, but I couldn't help but smile at the thought of someone searching for "Kaupthing" on this forum.:rotfl:

Yep, looking at my edit time, it took me a good 4 mins to find through that lot. Maybe I should not have bothered.

The_Fiddler_2

sloughflint wrote: »

Yep, looking at my edit time, it took me a good 4 mins to find through that lot. Maybe I should not have bothered.

Actually it only took you 2 minutes :rotfl:

Stonehands

I love Kaupthing :rolleyes:

Especially when they went bust with 17k of my savings... which has taken me 24 days to get back... :mad:

I would not go near them at the mo, they have been taken over by ING (Ignorant Netherlands gits), even if they are taking deposits...

Look here: http://forums.moneysavingexpert.com/showthread.html?t=1240713