Santander 2year fixed isa @ 4%

SG27

I have a question about the interest rate. Does it compound over the two years?

For example if I had £10,000 what interest can I expect at maturity.

£800 not compounded or £816 compounded?

Old_Slaphead

£816 .

charlieboycat

I was thinking about setting aside my prejudice against Satandire and applying to transfer my existing ISAs. However, it appears that some things haven't changed.

The website (under the heading "Transfering your Cash ISA is easy") says fill in the form and send it to an address in Bradford. The form itself instructs you to send it to a totally different address in Leicester.

Ageing_Stick_Insect

No problems here signing up to the 2 year fixed deal. I had a real incentive as my previous 2 year ISA matured on 1 March so was only getting 0.5%!

You do have to listen to a couple of recorded messages prompted by the call centre operator but she was very pleasant and it didn't take long to get sorted.

Job well done and finally I'm hopeful my ISA savings might actually beat inflation. :cool:

merchant332000

I was just wondering why the Santander 1 year fixed rate ISA at 3.5% doesn't show on Martin's Best Buy table like the 3.3% Direct ISA and the 2 year fixed rate at 4% do???

OnlyMe_08

Sorry if I'm coming across dumb here, but if it matures on 1st May 2014, does it not make this 2 year account a 26, rather than 24, month account?

Similarly, the 1 year fixed matures 1st April 2013, making it near 13 months of your funds being locked?

lanstrom

You can now apply for this account online (as of 7th March).

I just completed mine. Took less than 5 mins. Bit confused at the bit where it said your opening balance must be at least £1. I have already fully subscribed this year so I wouldnt be able to put that in (I am transfering my existing ISA to it instead).

Hope it all goes through OK.

KTF

You have to make a deposit within 14 days of opening the account so you could open it towards the end of the month so it is ready to go.

Source: http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237908316644&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector

veryintrigued

KTF wrote: »

You have to make a deposit within 14 days of opening the account so you could open it towards the end of the month so it is ready to go.

Source: http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237908316644&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector

I'm still not sure this is possible for those of us who are fully subscribed elsewhere for 2011/12 and are not transferring. i.e. Just wanting to open for the 2012/13 tax year. On the website application process you are forced to say you will push at least £1 over into this new ISA. This would take you over the limit.

Maybe I'm being daft i.e. in the application process what value would you say you are opening with? £1 - that would be a fib, £5640 - isnt allowed as the site recognises the total amount possible for 2011/12, or are you saying it doesnt matter - its a nominal amount?

KTF

I opened one over the phone on Monday as I already have an ISA with them but assuming there is no requirement for bank details, etc on the online form then you should be able to 'delay' the opening payment.