First Direct Regular cash ISA - pay in an extra £1500 in October

mary

Just got a message from them today.
With the change in amount you can pay in for the tax year 08-09, for us Golden Oldies (over 50), you can pay in a lump sum of the extra £1,500 as of 6th October I believe, so maximising 7% as soon as possible, then you continue paying your £300 p.m. (i.e. if you are paying in the full amount possible). If you don't want to do that, you can also pay in an increased amount each month, provided you stay within the limits.
My SO for October was changed for me over the phone today.

Milarky

(Result!) It appears First Direct have made the 'exception' process remarkably simple. I would have 'bet' money on them limiting the increase to the monthly amount or even telling you to open a separate FD ISA for 2009/10 - so good is a rate of 7% - it almost doubles the interest available.

Could have gone with them for 7% this year but struck out to Saffron. Not 50 yet anyway....

triplea35

I think this was very generous of First Direct. Simply increased my standing order from the usual £300 per month to £1800 for this month and the additional allowance has been added to my fixed rate regular saver so this money is effectively earning 7% per annum for the next six months.
I have been with First Direct for 20 years and cant fault their service though I do look elsewhere for better rates on most saving accounts/fixed rate bonds.