Nationwide pays savers 6.25%

[Deleted User]

oldfella wrote:

does anyone know if you can SO in from another bank, or do you need a Nationwide CA ?

thanks .. Mike

I am pretty certain the answers are yes and no - in fact it is one of the selling points they play on.

techno_geek

This account is great for me - have just applied online!

As I'm a student I don't have much/any spare money, so I can't benefit from any of the better deals out there from A&L, Barclays or Lloyds.

One of my interest-free student overdrafts is currently sitting in my Birmingham Midshires savings a/c earning 5.45% currently, so I'm planning on transferring £250 out each month and and sticking it into this new regular saver account... can't be bothered to do the maths and calculate exactly how much more I'll be earning in interest but every little helps!


I know I could use ICICI or IceSave but I don't trust ICICI (they fouled up a previous application for their savings account) and I've heard that IceSave have been taking forever to set up accounts recently - correct me if I'm wrong though!

MiserlyMartin

stphnstevey wrote:

But isn't the YBS Reguler Saver better than this? It also pays 6.5% (it might have gone up), allows £500 per month and continues longer than a year (I think about 3 or 5?).

YBS Regular saver will be paying 7% from 28 Jan. Taken from their website:

"Latest News:
Following the Bank of England base rate rise the interest rates on all Society variable rate savings accounts will be increased by 0.25% on 28 Jan 2007."

It continues until you hit the maximum balance I thought.

free4440273

is the nationwide account a 12 month account? or does the rate of 6.25 last longer than this? thanks all

free4440273

is the nationwide account a 12 month account? or does the rate of 6.25 last longer than this? thanks all

Kazza242

free4440273 wrote:

is the nationwide account a 12 month account? or does the rate of 6.25 last longer than this? thanks all

It lasts longer than 12 and 24 months. You can continue it until the account reaches the maximum allowed balance.

oldfella

the concern I have about this one is that it only pays well compared to other reg savers after 3 years, by which time the rate guarantee has elapsed. The margin compared to standard accounts is not much more than 0.5%.

also the rate can go down - most other reg savers with high interest rates are fixed rates

anybody else agree ?
Mike

LardyCake

Kazza242 wrote:

...You can continue it until the account reaches the maximum allowed balance.

I must have missed that bit (and I thought I had read the T&Cs), please can you say what the maximum allowed balance actually is. Thanks.

Kazza242

LardyCake wrote:

I must have missed that bit (and I thought I had read the T&Cs), please can you say what the maximum allowed balance actually is. Thanks.

It doesn't seem to state what the maximum allowed balance is on the press release. Though it does state:

The account is not limited to a 12 or 24 month period

I imagine they will provide the maximum balance information in the terms and conditions that you sign when opening the account. So if anyone has already opened the account can you post what this is please?

oldfella

So if anyone has already opened the account can you post what this is please?

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33. You may withdraw up to £500 in cash each day or up to £300,000 by cheque immediately. Larger amounts may be withdrawn by cheque within several days after making an arrangement with any local branch.

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thats going to take a while at £250 per month

Mike