Nationwide bond maturing - low rate offered!

Gromitt

nilrem wrote: »

Any others here have money with Indian banks?

It's not an Indian bank as such, it's a bank based in London

Its only based in India as much as Santander is based in spain.

As far as I'm aware, Icesave was only ever available in Iceland, not in the UK.

Of course, if you transfer funds from the UK to the 'real' Punjab in India, then say bye bye to your protection.

nilrem_2

nilrem wrote: »

Have a Nationwide bond maturing shortly. Best they are offering is 2.80% (2.24% after tax) for a 3 year bond!

I have looked around and there appears to be a complete dearth of fixed rate accounts.

I am getting 2.25% after tax with my Natwest esaver for the next 12 months so am thinking about shifting it there and hoping that in the next 12 months there may be a better fixed rate offered.

Only problem with the above is if rates fall lower then I shall be even worse off after 12 months. I depend on my interest for income.

Just to update, the bond matured yesterday (Sunday 2nd Dec) I have reinvested half in a 2year fixed bond with Nationwide paying 2.58% with Monthly interest and the other half has gone into the Natwest esaver account with the 2.85% bonus account.