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Questions Regarding Egg 3.35% Account.

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.

Comments

  • D1zzy
    D1zzy Posts: 1,500 Forumite
    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
    shaz77_2 Posts: 1,881 Forumite
    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
    D1zzy Posts: 1,500 Forumite
    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
    D1zzy Posts: 1,500 Forumite
    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
    shaz77_2 Posts: 1,881 Forumite
    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?
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