Questions Regarding Egg 3.35% Account.

shaz77_2

I've just applied for this account and I am still a little confused as to how the interest works, if put money into this account and leave it there for a full year will I get the full 3.35% interest rate? Conversely if I make withdrawls what interest rate can I expect the make?

Finally they have indicated that they are going to send me a letter asking for more details before I can open this account, what details do they usually as for?

Thanks in advance.

D1zzy

No withdrawal penalties - but the bonus is variable - so they can change it at will (ie when they've signed up enough mugs {sorry} who didn't read the small print.
Variable bonus - not worth having ( in my opinion).

[FONT=Arial, Helvetica, sans-serif]Egg Savings Account (Internet) - get 3.35% gross pa/AER variable (includes an introductory 12 month variable bonus rate of 2.10% gross pa from the date your account is opened)[/FONT]

shaz77_2

Thanks I'm glad you pointed that out before I went any further.

What are the best fixed rate accounts at present that allow withdrawls?

D1zzy

Fixed rate accounts with withdrawals are few and far between but accounts with a fixed rate bonus are available.Depends on how much you want to invest - but if you check out some of the comparison sites and look for anything with a decent fixed rate bonus - at least that bit will be guaranteed here's an example
Ruffler bank - but you need 10K

• AER 3.60% paid at £10K
• Guaranteed Rates:Gross Rate guaranteed to be Equal to 2.55% above Bank Base Rate

D1zzy

here's another which doesn't need 10K & the bonus bit is fixed
ING Direct* pays new customers 3% AER from £1, with no max. Here, 1.47% is a fixed introductory bonus, lasting a year.

shaz77_2

D1zzy wrote: »

Fixed rate accounts with withdrawals are few and far between but accounts with a fixed rate bonus are available.Depends on how much you want to invest - but if you check out some of the comparison sites and look for anything with a decent fixed rate bonus - at least that bit will be guaranteed here's an example
Ruffler bank - but you need 10K

• AER 3.60% paid at £10K
• Guaranteed Rates:Gross Rate guaranteed to be Equal to 2.55% above Bank Base Rate

Thanks, does that account allow withdrawls?