Nationwide Instant Access ISA Interest

Gambler

Hello All,

My partner opened a branch account in 2002 but only went in today to get her interest added for periods ended 31/03/04 and 31/03/04.

I'm very surprised the gross interest paid is only 3.75%, seems low to me, especially as the current rate is 4.85%.

Anybody know if the branch rate is less than internet rate?

And does anybody know where i can access their previous rates, already tried their website.

Many thanks

YorkshireBoy

Gambler wrote:

My partner opened a branch account in 2002 but only went in today to get her interest added for periods ended 31/03/04 and 31/03/04.

I don't want to lecture, but I have to say you've left it an awfully long time before checking your savings performance. Its best to check, and compare, your interest rates regularly, either in the national press (best-buy tables), on the internet (eg https://www.moneyfacts.co.uk), or in the branch itself. Alternatively, keep visiting this site and you'll get a feel for the best savings accounts available. If your partner has anything like "reasonable" savings, failure to regularly check rates could/could have cost you a lot in lost interest - especially in a tax-efficient account like ISA's.

Gambler wrote:

I'm very surprised the gross interest paid is only 3.75%, seems low to me, especially as the current rate is 4.85%.

There have probably been around 10 BOE interest rate changes since your partner last had interest applied to the account. To summarise, they were falling in 2003, and rose again in 2004 (and when they rose, not all institutions applied the full percentage amount!!).

Gambler wrote:

Anybody know if the branch rate is less than internet rate?.

Er? do they have an internet based ISA? I could only find the one branch based account when researching for this reply!

Gambler wrote:

And does anybody know where i can access their previous rates, already tried their website.

Sorry, searched their web site but couldn't find any information. Try asking them for their historical rates via their "contact us" link, or call into your local branch.