Natwest eISA - how long is bonus for?

lolly5648

I opened my eISA around the end of September last year with the relevant bonus rate. Does anyone know how long this bonus lasts and what happens when it ends. Will Natwest let me know?

(I also have e-savings and the same question applies)

wizk1

The interest rates and promo periods are on the interest rates page on Natwests website

lolly5648

I have looked on the website and know what my interest rate is but can't see if the bonus is for one year or has a specific end date.

wizk1

The interest rate will drop on the anniversary of your account opening. My ISA rate dropped last month :-(

lolly5648

Funny how they drop the rate on the anniversary of opening the account when they didn't pay the bonus until the last day of the month after opening the account.

wizk1

lolly5648 wrote: »

Funny how they drop the rate on the anniversary of opening the account when they didn't pay the bonus until the last day of the month after opening the account.

That's normal. Don't worry, you are still getting your 12 months' bonus The interest is calculated on the balance you maintained in the account throughout that calendar month. It is then paid in arrears. How else would they know how much interest to pay you? :rolleyes:

The_Enforcer

lolly5648 wrote: »

I opened my eISA around the end of September last year with the relevant bonus rate. Does anyone know how long this bonus lasts and what happens when it ends. Will Natwest let me know?

(I also have e-savings and the same question applies)

As far as I'm aware the e-Isa is a variable account with no bonus:

http://www.natwest.com/personal/savings/g2/isas/e-isa.ashx#tabs=section2

Did you mean the Cash Isa:

http://www.natwest.com/personal/savings/g2/isas/cash-isa.ashx#tabs=section3

or Cash ISA Plus:

http://www.natwest.com/personal/savings/g6/rates.ashx#cashISAPlus

which both have bonus periods?

TOP_CAT

In reply to The Enforcer on subject of cash ISA (not e-isa or cash isa plus) it appears nat west has added another tier ie £50,000 and above on 4th sept 09 update for top rate of 2% bonus

It was £27,000 and above for 2% bonus now its £50,000 so lowering rate of return for peoples cash isa between £27,000 and £49,000.

Complex, but effective rate reduction too 1.74% on fixed bonus by adding another tier for 2%bonus

Hope I have made it understandble.
Also Im not sure but if you view past interest rates on same account they look mixed up or incorrect as far as addition of bonus goes.

Another opinion from someone may confirm this or otherwise.

lisyloo

Also Im not sure but if you view past interest rates on same account they look mixed up or incorrect as far as addition of bonus goes.

Yes, they are mixed up.
The 1.76 and 2% ones are switched.
I'm pretty sure of this as I keep a beady eye on our rates.

TOP_CAT

I was little gutted at how they have increased/added another tier level during the bonus year,top £27,000 for 2%tier now moved to £50,000 to get 2% bonus.Bet the bean counter who thought that one up is patting himself on the back

The effect is same as lowering a fixed bonus rate, cause you end up in another lower tier bracket ie less interest.

It looks like a new kind of trap for savers ,well I haven,t seen it before.
Wonder if Yorkshire boy ,(hail the master) has one of these accounts, he,s great at Terms and conds or yourself lisyloo.The birdseed writting is to much for me to take.

I wondered if they allowed for higher tier bracket additions/changes during 12mth fix bonus account. cash isa 2% version
They may have it worded so but then they might not.
As they have made mistake in past/previous rates on line at pres.But guess that to be typo

Its still a good rate I think at 3.74% but 3.98% would be better although not long to go now till nov for myself.
Still would like others opinions if they watch this stuff as they are sneaky !!!!!!s,kind of like us.

Does anyone know the next best cash isa rate/account at pres.This was my first fix as it was 7.% something at first before rates tanked later so has been ok I think.

apt

Unless you want to fix for 3 years or more then it's best to stick to the 3.74% for now. The change is sneaky, but it was only the bonus that was fixed. Overall the NatWest rate has fallen from 7.32% to 3.74% which is still less than the fall in base rates.