When should I open new asvings accounts?

kellyp

Just inherited a large sum of money. Plan to open an Icesave, who have just increased their rates and also a regular saver with LloydsTSB. Lloyds have not announced any interest changes yet - should i wait a week or so for this to see if they increase it before opening an account? ALso are any other banks likely to increase rates higher than the Icesave so should I wait a little while to see?
Thanks in advance.

Oh - one further query - How do i transfer my cash ISA into another one with a better rate. Currently with nationwide but was going to transfer to NS+I, but doesnt say anything on their website.
Thanks

clear_blu

You cannot transfer your ISA into a NS&I ISA Direct at 5.55% as they dont allow it, you can however transfer into their mini cash ISA but the rate is over 1% lower. You would proberbly get a better deal with another company, a number of which have been mentioned on this site.

Riviera_Kid

kellyp wrote:

Just inherited a large sum of money. Plan to open an Icesave, who have just increased their rates and also a regular saver with LloydsTSB. Lloyds have not announced any interest changes yet - should i wait a week or so for this to see if they increase it before opening an account? ALso are any other banks likely to increase rates higher than the Icesave so should I wait a little while to see?
Thanks in advance.

Lloyds Regular Saver is fixed for the two years so it will continue at 8% (which is still an excellent rate).

On the subject of Icesave it's difficult to predict what other banks will do. Personally I don't plan to wait and see, I'm just going to go ahead and open an account with them this week