Old Northern Rock e-Isa 3.05%

PaulAG

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I joined up to northern rock's e-isa about a couple of years ago and it has since been taken over by Virgin money. I am still receiving 3.05%. I am looking to see is that interest rate going to be maintained but I cannot find any reference to it on the Virgin Money website. Can anone advise me if this rate will continue or if it is like to drop?

GreenBitterfly

I'm on an interest rate of 2.80% with an old Northern Rock ISA, and I haven't received anything about the interest rate dropping. I'm presuming it's just going to stay at those rates till they indicate otherwise, either by an e-mail/letter or the interest rate changing on the statements.

coastline

set this at Previously offered..

http://bank.virginmoney.com/savings/helpful-information/find-your-interest-rate/

johnbanks1948

PaulAG wrote: »

I joined up to northern rock's e-isa about a couple of years ago and it has since been taken over by Virgin money. I am still receiving 3.05%. I am looking to see is that interest rate going to be maintained but I cannot find any reference to it on the Virgin Money website. Can anone advise me if this rate will continue or if it is like to drop?

I am also in this and they paid the interest yesterday still at 3.05%. This is a good rate at present. Does this mean i can put next years money in in april and maintain this interest. I think they have to notify us of a change. Anybody know

evenasus

The last time someone queried a Northern Rock/Virgin interest rate, they dropped it soon after.

lifemagic wrote: »

My Northern Rock account (which just became Virgin Money) shows my gross rate (as non tax payer) as 2.75 on the bank screen. It makes me worry that it isn't the 'real' rate that I'm getting

evenasus wrote: »

Shhh - This rate isn't available to new applications.

I have this account too but I didn't want to bring it to Virgin's attention.

innovate wrote: »

You have now.

Me and my big [STRIKE]mouth[/STRIKE] fingers!
Just received an email from Virgin (NR) to say the rate will be reduced to 2.40% from February.

ANGLICANPAT

Tell you what, that Virgin 'find your interest rate' is good, wish every organization had one. So much easier than trawling through a site searching for closed accounts.

alright_dave

I've been in to a branch and asked the same question, the reply was that all accounts will be paid at the rate you signed up for, if they're going to change it, they will inform by post 30 days before the change in rate.

GreenBitterfly

I got an e-mail today, saying they are cutting the rate down to 2.40% from 2.80%. The change is happening in May, so they've let me know in plenty of time.

MadMat

I'm still on the 3.05 deal, and not had any letters / emails yet.

Am I right that under ISA rules if I pay anything in after 5th April then I'm stuck with that ISA whatever the rate changes too for new money for the rest of the year?

Would it be prudent to skip the April standing order payment and see what happens before tying myself to Virgin for another year ?

Mat

wesleyad

I'm also wondering this. I have this accoutn and have been told it will be 2 months notice. But like Madmat I want to put in next years money quite early. If i put it in and they then drop the rate, am I stuck for the year?

badger09

wesleyad wrote: »

I'm also wondering this. I have this accoutn and have been told it will be 2 months notice. But like Madmat I want to put in next years money quite early. If i put it in and they then drop the rate, am I stuck for the year?

NO, its instant access so you can transfer it (using new ISA provider's transfer process) any time you want. Only rule is, you have to keep all current year's subscription together.

EG 2012/13 you've paid in £5640
on 6 April 2013 you pay in £5760

If you find a better rate, you can split your £5640 (+ interest) as you want, but if you want to transfer any of the £5760, you must transfer it all.