Santander ISA rate dropping after 1 yr

organic_wanabe

I, along with my DH and DS, have our 2009/2010 and 2010/11 ISAs with Santander. I simply went into our branch today (which used to be A&L) and had a meeting with a fantastic member of staff there who I have known since I first opened an account with them a number of years ago. I fully expected to have to transfer the funds elsewhere but thought I should tell her why but after a discussion (when we both moaned about Santander) we transferred the 'Flexible ISA Issue 1's' into Two-Year Fixed Rate Postal ISAs paying 3.7% until 01.04.13

joyceyjo

Yes i considered the Santander 2yr fixed 3.7%, but to be honest i fully expect interest rates to go up in the next 2 yrs and don't really want to put my existing variable isa into a fixed option because of that.

tanith

organic_wanabe wrote: »

I, along with my DH and DS, have our 2009/2010 and 2010/11 ISAs with Santander. I simply went into our branch today (which used to be A&L) and had a meeting with a fantastic member of staff there who I have known since I first opened an account with them a number of years ago. I fully expected to have to transfer the funds elsewhere but thought I should tell her why but after a discussion (when we both moaned about Santander) we transferred the 'Flexible ISA Issue 1's' into Two-Year Fixed Rate Postal ISAs paying 3.7% until 01.04.13

I also considered this Postal ISA but because its Postal only its not visible in online banking or accessible by phone or in branch and you have to close the acc if you happen to need access. I get a bit twitchy if I can't even look at my money :rotfl:which is why I rejected it .