Fix my ISA for 2 years and open another?

buffman

I too am thinking of transfering into a 2 year fixed ISA. I do not like that with the NatWest 3.9% ISA, I only get 0.5% until 4th April. Nottingham are paying 3.65% AER. Does anyone have the AER for the NatWest version assuming deposit made on 1 March?

As it will take a number of weeks to transfer from my existing ISA, I assume that this may not be an issue as NatWest will not receive my money for a number of weeks?

To get the NatWest 3.9%, I only have to transfer in my existing ISA and not make any further contribution for this tax year?

Seany

I opened one a couple of weeks ago Buffman,

Still sitting on the transfer papers to delay the switch across because I'm getting a better rate with my current provider.

I haven't had to contribute anything this year, (I explained I had already used my subscription for the year) just the next two years is a minimum of £1000 a year!

However the important thing to note is that applications have to be in by the 28th I believe and transfer forms received by the 28th/29th of February to get the rate.

With the deadline fast approaching my transfer form is going in today!

psychic_teabag

buffman wrote: »

I too am thinking of transfering into a 2 year fixed ISA. I do not like that with the NatWest 3.9% ISA, I only get 0.5% until 4th April. Nottingham are paying 3.65% AER. Does anyone have the AER for the NatWest version assuming deposit made on 1 March?

To a first approximation, the gross rate should just be the weighted average : 24 months at 3.9% and one month at 0.5% - (24 * 3.9 + 0.5) / 25 = 3.764