Anyone sticking with NatWest e-ISA (acc opened before 14 May 09)

ACID

e-isa for 3%??
did you open it in the last few days?

KTF

As has been mentioned in this thread, the e-ISA goes from 2.75% to 3.26% depending on the balance if you opened one before May 14:

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

After that date the rate changes to 2.00% to 2.50% which is why this can be a good place to add this years allowance depending on the balance of the account and when you opened it.

Edit: To find out what ISA you have, logon to the Internet banking and click account details. Is should say something like:

Account type: E-ISA

Along with details of the branch that its held at, etc.

ceh209

ACID wrote: »

e-isa for 3%??
did you open it in the last few days?

No if you opened the e-isa before 14 May 2009, you're still on their higher rates. I believe the rate's 2% now.

ACID

Thanks for the info I opened it on the 7th
but have now put only £3600 into it last year
I was told its matured already as its a new tax year
and the Interest is 0.50%

misleading or what

shymanuk

so are we saying that if you have a e isa before 14 may 09 at the higher rate its still 3.01% and i can add this yrs £5100 and will get that rate on the lot untill they change the rate and the 2% people are saying about is for new e isa set up from now ..... so think if this is case ill add to this one instead of a+l at 3.2 for this yrs 5100 as had a hell of a time getting money transfered from a+l last time

ACID

shymanuk wrote: »

so are we saying that if you have a e isa before 14 may 09 at the higher rate its still 3.01% and i can add this yrs £5100 and will get that rate on the lot untill they change the rate and the 2% people are saying about is for new e isa set up from now ..... so think if this is case ill add to this one instead of a+l at 3.2 for this yrs 5100 as had a hell of a time getting money transfered from a+l last time

yep went to natwest to confirm
however they were as confused as me

ok i opened an e-isa last may (7th)
and she said according to the site it shoudl be 2.75 p.a interest or 2.72 for any amount less than 10k

However she coudlnt confirm htis, because she did mention that rates shoudl have dropped
but was surprised it didnt
now does that mean my isa has matured?? or will it amture 7th may 2010???

Sorry for the confusion..this just isnt the norm for isas

I opened a santandar is this morning on the assumption of rates dropds
but if natwest do stick, then i may as well top up and continue my 3600 from last year by adding 5100, as next tax year the rate will still be ok

what do others think?

home_alone

jcw wrote: »

Also wondering about this one. I had a similar online chat with their advisors. Was told that the introductory bonus had now run out (not sure this is correct - the interest payments I received don't seem to support that statement) On the +ve side he said the 3.01% was the ongoing rate until advised otherwise and any funds paid in now would get that rate.

I am having the same with my nat west e savings the bonus should have been pulled months ago but still shows on my statements nat west say I am getting 1% and no bonus, statement says otherwise, maybe I should say nothing.

Grimbal

funnily enough, I've literally just called Nat West to have the same conversation! I was told that the e-plus ISA that I opened in 2008 is still paying an AER of 3.01% (& I have less than 10k - the cutoff in a PP) in it too. Dropped from 3.5% a few months ago, on a variable rate now still. I confirmed with them that this was for an exisiting e-plus ISA customer and not just an introductory rate for new customers.
HTH
Liz
x

oldfella

my guess is that it will reduce some time soon, ours are in the process of transferring to M&S 4%. Suggest its worth keeping a close watch on the NW eISA rate.

wdyw

Yep, the NatWest e-isa is going to get my £5100 this year. The best thing about it is trying to figure out how many days have been used when calculating the monthly interest.

If rates change later in the year (down), I'll move.