Barclays Cash ISA - Golden ISA issue 2 - 3.10%

glider3560

cslogg wrote: »

When I asked what would happen to my present one when it finishes I was informed it would revert to an ISA paying 2.5 %.This figure sounds a bit high going by what is being said on this thread.Maybe I misheard it.I would prefer to keep my ISAs with Barclays as it gets included in my Barclays Open Plan mortgage calculations

That is correct. The current rate is 2.55% plus a 1.00% bonus for the first year. After the year is up, it reverts to the current rate (without the bonus), i.e. 2.55% at the moment. However you need to remember this rate is variable. As a comparison, Tax Haven ISA (08/09) is now 0.83% and Tax Beater ISA (07/08) is now 0.56%. So it is very likely that they will put the rate down sometime in the future.

koopa_coffee

shazkhan111 wrote: »

Will be on website as off midnight tonight. Conditions are the same as last year, just the rate is better.

Not really. The rate is 0.5% worse than last years 3.61%.

7sefton

All details online now:

http://www.bank.barclays.co.uk/Savings/ISAs/CashISAGoldenISAIssue2/P1242569005970

Are there any factors that would convince you to choose Barclays over Santander, obviously apart from the rate? I'm thinking of things like service, brand, etc...

techno12

7sefton wrote: »

All details online now:

http://www.bank.barclays.co.uk/Savings/ISAs/CashISAGoldenISAIssue2/P1242569005970

Are there any factors that would convince you to choose Barclays over Santander, obviously apart from the rate? I'm thinking of things like service, brand, etc...

Just the fact that I bank with Barclays and it's handy to see the ISAs on my main Online Banking page (though I recently transferred the Tax Haven ISA to FirstDirect due to it reverting to a rubbish sub 1% rate).

Last year's Golden ISA was opened online within minutes which is nice..and I'll do the same come April 6th with this one.

TCA

Does anybody know if Barclays are likely to offer a revised version of their 5 year fixed rate ISA?

the182guy

7sefton wrote: »

All details online now:

http://www.bank.barclays.co.uk/Savings/ISAs/CashISAGoldenISAIssue2/P1242569005970

Are there any factors that would convince you to choose Barclays over Santander, obviously apart from the rate? I'm thinking of things like service, brand, etc...

If you choose Barclays over A&L you're effectively paying £14.40 for the convenince, assuming the balance is £3600 and the rates stay the same. You also have to consider that Barclays could drop anytime whereas A&L will stay 3% above BoE base rate, so it could cost you even more.

Kazza242

the182guy wrote: »

If you choose Barclays over A&L you're effectively paying £14.40 for the convenince, assuming the balance is £3600 and the rates stay the same. You also have to consider that Barclays could drop anytime whereas A&L will stay 3% above BoE base rate, so it could cost you even more.

I agree with the182guy's post above. This Barclays ISA is rather disappointing - especially when Santander and A&L's flexible ISAs are offering 3.50%. My new ISA allowance will not be going to Barclays on April 6th. I expect that there will be even better deals over the next few weeks.

jimbow25

Choosing santander for the 0.4% difference in rates assumes you will swiftly move the money on after the year - I haven't done the maths but as Barlcays 'only' drops by 1% at the year end vs. Santander which drops by a lot more, a few months of leaving the money in the account beyond April 2011 would wipe out any benefit you gained in the year.

But yes I agree there's not much of a reason to choose the Barlcays account .

my_garden_shed

I'll be paying into Barclays ISA again this year - it took me about a minute to open the last one and they haven't brought the rate down. Sandanders 3% rate guarantee is not much different from an intrductory bonus - guaranteed to reduce by 3% in 12 months! jimbow25 is right - I worked out that you would have to tranfer out of santanders ISA within 3 months of their guarantee ending otherwise the benefits over Barclays are wiped out.

Baldur

my_garden_shed wrote: »

I'll be paying into Barclays ISA again this year - it took me about a minute to open the last one and they haven't brought the rate down. Sandanders 3% rate guarantee is not much different from an intrductory bonus - guaranteed to reduce by 3% in 12 months! jimbow25 is right - I worked out that you would have to tranfer out of santanders ISA within 3 months of their guarantee ending otherwise the benefits over Barclays are wiped out.

The last three Barclays ISAs (Tax Beater, Tax Haven & Golden) have all had a 12 month bonus, from memory, so even if you haven't yet had a rate drop, one will probably be along very soon......