5% one-year fix, Nottingham BS?

saintalan

ajdj wrote: »

If she has the £5,760 in a lump sum she would be better off putting it straight into the best rate instant access ISA (Coventry Poppy at 2.6%).

This one only works out better if you don't have the lump sum now but plan on adding to the ISA every month.

I did the sums last night and there was about £20 difference in favour of the 2.6%.

Anything over 2% in a cash ISA will beat this regular saver ISA if you have the full amount to add tomorrow.

Well there are always differing views, here's mine.

I start with £5760 in my Santander 123 @ 3% less tax 2.4% and draw down £480 / month in to the 4% Regular saver this gives me £188 at year end.

If this was not available I would probably go for the Santander 2.5% or the 2 year fixed at 3% but I don't really want to fix for 2 years. Anyway the 2.5% would give me £144 and the 3% in year 1 £173

Either way I am better of and only effectively fix for 1 year @ approx 3.25%

Of course this depends on them accepting my postal application:-)

veryintrigued

saintalan wrote: »

Well there are always differing views, here's mine.

I start with £5760 in my Santander 123 @ 3% less tax 2.4% and draw down £480 / month in to the 4% Regular saver this gives me £188 at year end.

If this was not available I would probably go for the Santander 2.5% or the 2 year fixed at 3% but I don't really want to fix for 2 years. Anyway the 2.5% would give me £144 and the 3% in year 1 £173

Either way I am better of and only effectively fix for 1 year @ approx 3.25%

Of course this depends on them accepting my postal application:-)

Similar here -have worked out that its the equivalent of 3.15% with a combination of the £5760 in the Notts 4.0 ISA and the 2.5% savings over the year.

MissyD_2

ajdj wrote: »

If she has the £5,760 in a lump sum she would be better off putting it straight into the best rate instant access ISA (Coventry Poppy at 2.6%).

This one only works out better if you don't have the lump sum now but plan on adding to the ISA every month.

I did the sums last night and there was about £20 difference in favour of the 2.6%.

Anything over 2% in a cash ISA will beat this regular saver ISA if you have the full amount to add tomorrow.

Note: Nottingham is BRANCH ONLY! (nearest one to me is 120+ miles away)

http://www.thenottingham.com/help-centre/branch-finder/

Would the Coventry work out best even if I open with £2600 and then deposit the remaining £3160 into it ASAP?

veryintrigued

MissyD wrote: »

Note: Nottingham is BRANCH ONLY! (nearest one to me is 120+ miles away)

http://www.thenottingham.com/help-centre/branch-finder/

Would the Coventry work out best even if I open with £2600 and then deposit the remaining £3160 into it ASAP?

We're lucky in that we have a branch close and I have a couple of very good regular saving accounts with them currently. I do like their service - if they had better accounts I would do more business with them.

saintalan

MissyD wrote: »

Note: Nottingham is BRANCH ONLY! (nearest one to me is 120+ miles away)

http://www.thenottingham.com/help-centre/branch-finder/

Would the Coventry work out best even if I open with £2600 and then deposit the remaining £3160 into it ASAP?

Folk seemed to open accounts by post last year. Also it doesnt actually say Branch Only.

"To open an account, call in to your local branch and speak to one of our advisers. Weﾒll have a friendly chat to make sure that Starter ISA Issue 3 is the right account for you.
Weﾒll then ask you to fill in an application form.
"
The form actually offers you the chance to waive your right to speak to an advisor.

I know clutching at straws!

MissyD_2

veryintrigued wrote: »

We're lucky in that we have a branch close and I have a couple of very good regular saving accounts with them currently. I do like their service - if they had better accounts I would do more business with them.

I'd like to bank or rather save with them too, I did contact them directly and asked if I could open by post since the nearest branch was a 240+ mile round trip (which would defo kill any interest earnings!).
They replied:
"Thank you for your recent email. Unfortunately we are unable to open Branch operated account via post. We do offer accounts nationwide and these are eSavings accounts, at the moment we have a 20 day notice eSaver which is currently paying 1.00%. :rotfl:Please do look at our website as any new accounts we launch either eSavings or branch are updated on here.

If you have any further queries please do not hesitate to contact us."
Do they think I dont know what the numbers before % sign mean??:mad:

veryintrigued

MissyD wrote: »

I'd like to bank or rather save with them too, I did contact them directly and asked if I could open by post since the nearest branch was a 240+ mile round trip (which would defo kill any interest earnings!).
They replied:
"Thank you for your recent email. Unfortunately we are unable to open Branch operated account via post. We do offer accounts nationwide and these are eSavings accounts, at the moment we have a 20 day notice eSaver which is currently paying 1.00%. :rotfl:Please do look at our website as any new accounts we launch either eSavings or branch are updated on here.

If you have any further queries please do not hesitate to contact us."
Do they think I dont know what the numbers before % sign mean??:mad:

They seem to be focusing their better rates to the locality and dont seem too concerned with not being market leaders with all and sundry. I know that doesnt help you but I like that sort of approach.

I once tried to get an account with Cumberland BS but they again had a very local and mutual approach. Credit to them I say.

saintalan

MissyD wrote: »

... Unfortunately we are unable to open Branch operated account via post. ,,,
Do they think I dont know what the numbers before % sign mean??:mad:

As I am not in a hurry to open an alternative new one until previous ones mature in May I am going to mail one for the hell of it!

MissyD_2

saintalan wrote: »

As I am not in a hurry to open an alternative new one until previous ones mature in May I am going to mail one for the hell of it!

Ok, good luck!! I might do the same, although my ISA & FD REG saver are my top priority atm, so I will need to fill these up first, me thinks.
Now, I don't really understand why there is such a huge difference between opening current accounts online and savings accounts....
I opened a current account with First Direct in Sept, took all my existing account details (not required for switch as I did this by completing forms sent in welcome pack) and employer details e.t.c, within 7 days I had received everything, card, cheque book e.t.c without sending them any proof of ID.

However, I opened top paying CASH ISA with Coventry BS yesterday online, now I need to print application form and sign it and send it to them with 2 x proofs of ID that must be originals or certified copies!
https://www.coventrybuildingsociety.co.uk/savings-and-investments/identification.aspx

How is it I can open a current account on line with a debit card, cheque book, overdraft etc with no ID at all, yet I need all manner of ID for a savings account?
Surely my National insurance Number would be plenty of ID!

MissyD_2

veryintrigued wrote: »

They seem to be focusing their better rates to the locality and dont seem too concerned with not being market leaders with all and sundry. I know that doesnt help you but I like that sort of approach.

I once tried to get an account with Cumberland BS but they again had a very local and mutual approach. Credit to them I say.

That's all good and well IF you live in the area, however from where I am in Greater London it's still discrimination, to be honest I don't think it's fair in the slightest & the more of these accounts I see, the more I want to go to fighting this all the way as discrimination like a certain man did about Car Insurance Premiums a few years ago, even though that was based on statistics!
It's like a flipping post code lottery I never signed up for!