New National Savings 'Direct' (Online) ISA @ 5.05% (AER)

emphatiC_hanK

Now that the Halifax are about to drop the rate for their online ISA to 4.75% (v. sneaky!), how about the new Direct ISA account (available form April 6th) from https://www.nsani.com as an alternative? I hadn't heard anything at all about this new account until this week, but it may be of use to someone?

http://www.nsandi.com/products/disa/news.jsp

I've had a quick skim through the details, and it would appear that you need a minimum of £1,000 to open it and withdrwals of less than £250 are not allowed. It would also appear (sadly) that you cannot transfer in from previous years' ISA's, which is a shame.

However the rate of 5.05%, with a guarantee to beat base rate by 0.55% for two full years (until April 2008) is excellent, unlike Bradford & Bingley's online ISA which is bound to fall to 4.75% very soon, as their guarantee is only to match base rate (it is currently +0.25%.)

:A emphatiC_hanK :A

david78

This looks good to me, I've moved it to the top of my list os possibles.

ManAtHome

Just seen it (checking my PBs - oh well, back to work Monday..) - note that you can transfer in from an existing National Savings cash ISA.

baldbloke_2

I never cease to be amazed at the short-sightedness and 'greed' of savers like myself!
NS&I are a comfortable feel-good provider who's poor 4.2% mini ISA rate induced me to transfer out to the Halifax at the then attractive rate of 5%.
What happens? Halifax reduce their rate to 4.75% from 6th April and lo-and-behold NS&I come up with this beauty out of the blue! And... they don't accept transfers in from other providers. My fault of course but I must be allowed to go to the top of the nearest hill and scream ever so loudly!!!
I know it's a game they are all playing but my goodness it can make you angry at times!

penrhyn

Looks good if you have the £1000 initial deposit, and would be easier to operate than my Abbey Postal ISA (issue 1) which is paying 4.9% at the moment.

tonyj100

Hi,

National savings are offering their direct ISA at 5.05% Guaranteed to be 0.5% above the baseate till April 2008

http://www.nsandi.com/products/disa/news.jsp?ccd=NEWXAA

Toyn

Kazza242

tonyj100 wrote:

Hi,

National savings are offering their direct ISA at 5.05% Guaranteed to be 0.5% above the baseate till April 2008

http://www.nsandi.com/products/disa/news.jsp?ccd=NEWXAA

Toyn

Hello,

Another member created a thread on the NS&I 5.05% offering last Saturday.

http://forums.moneysavingexpert.com/showthread.html?t=176001

EDIT: Your thread has now been merged into the thread I added a link to above, by a board guide.

cloud_dog

Ok, this may be a stupid question but..............

You can download a brochure from the website but there does not appear to be an application form. Is this a sneeky way of stopping you getting as full a years interet as possible?? Any pointers, anyone??

Edit: Ok, rang them (should have done that first. Its al online (or over the phone) with no download / print / sign / return forms, so interest can be accrued from day one (or so they say).

Thanks cloud_dog

derrick

cloud_dog wrote:

Ok, this may be a stupid question but..............

You can download a brochure from the website but there does not appear to be an application form. Is this a sneeky way of stopping you getting as full a years interet as possible?? Any pointers, anyone??

Thanks cloud_dog

You can apply over the phone using a DEBIT card from the 6th April, (make sure the money is available in your account as it can be taken quite quickly.
0500 500 000, if you call them now they can supply info/send you details

Innys

Hi

Has anyone actually managed to download the brochure from their website? I keep getting an error message saying the file is corrupt...

In the end I rang them up and asked them to send me one.

hole_in_pocket_2

yep download error aswell! willl wait until the 6th and try again