e-savings

tom.senex

Sorry for any repetition.
I transferred my ISA to NatWest a few months ago when they were offereing the 2% bonus deal. This was quite attractive at the time.

I also decided to open an e-savings with them (again they were offering a bonus of I can't remember if 1 or 2% for a year if I'm not mistaken). Having just checked the rate has now dropped to 1.40%. I'm going to check with them ASAP what interest my e-savings are currently getting and what bonus applies. Anyhow, what are people generally suggesting at the moment? I have seen a couple of things about ING and TESCO Finance.

YorkshireBoy

You're earning 3.44% AER, including the 2.1% gross p.a. bonus, on your E-Savings account.

http://www.natwest.com/personal/savings/g1/instant-access/e-savings.ashx#tabs=section3

SavingSteve

To be fair 3.44 is prob as good as you'll get right now, most paying over that (ICICI, Anglo Irish) will likely drop to the 4% mark soon. Depends how much that half percent is worth to you.

I'd say wait at least a few weeks to see how the rates fall.

natman

HI,

I agree, the interest rate has not hit its lowest point yet so currently if your getting around -the 3.5% your doing pretty well.

I know ING are offering new customers 5%http://www.ingdirect.co.uk/savings/our_savings/about_our_savings/aboutoursavingsaccount.asp
And yeah can understand the attraction.

Personaly ING do my head in - rates start off great, then dive like a deep sea diver - I think the interest on this is variable, so in theory can cut it when they like( and they normally do).
The Tesco interet saver at present - is a decent paying interest account..............
However i am still waiting for mine to be open - 2 months after applying
Also they have just taken off the 1.5% bonus - so its actually offering - 3.6%
http://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/index.jsp

Savers are struggling at the minute
ICICI is an account I have had and is currently paying - 3.55%, but some, like me, brought their avings back from this bank as some svers felt it was a little unsafe( like the icelandic fiasco)

So aim for around 3-4% is ok
ING'S 5% is attractive - but be careful they dont get your money then just drop your rate.
good luck.

tom.senex

Thanks to you all. For ease of life will just keep the Natwest e-saving and shift some of it into the ISA comes April.

MsHoarder

Just a quick point - if you are on the "set up a standing order and we will give you a bonus payment" offer, then you don't need to keep the money in the account until April, just until the day after the payment goes in.

juicyjude

But also remember that ING relies on the Dutch comp scheme. I have thought about this as well as the rates are very good but am concerned about the safety. Perhaps I am being too cautious but having spend most of the summer worrying about B & B (although it came right in the end) I am extra cautious now.