Halifax can't afford a calendar!

cookie365

Times must be tough up north - I've just today opened a fixed 3 year ISA and received a welcome email referring to the 2012-2013 tax year.

Good to see they're not wasting their money on unnecessary fripperies like calendars

Vladislavs

cookie365 wrote: »

Times must be tough up north - I've just today opened a fixed 3 year ISA and received a welcome email referring to the 2012-2013 tax year.

Good to see they're not wasting their money on unnecessary fripperies like calendars

hey! im currently thinking about fixed rate 3 year ISA, 3% seems very good at the moment, but 3 years.... too long perhaps? imagine next year or year after rates wil go up and you will be able to get 3% on easy access and 3.5% fixed? there is a risk to be trapped.
Ive got the same dilema right now, to put 15k all together on Chesire BS 2.3%, that will give me 345£ per year or
To put 13100£ from previous years on a fix rate 3% halifax, and another 1900£ on Conevtry BS 2.6%, which will give me 393£+49£ = 442£
So question is 345£ a year and easy access, or 442£ and 13k stuck for the next 3 years on 3%.........
Anyone can comment? If rates will stay as they are low, then for sure 3% is a good fix rate, but if they suddenly will go up next year, then im trapped!

cookie365

Yes, I wouldn't put all my savings in it. It's a risk. And you get virtually no extra interest for opting for a 4 or 5 year fix.

ctdctd

cookie365 wrote: »

Times must be tough up north - I've just today opened a fixed 3 year ISA and received a welcome email referring to the 2012-2013 tax year.

Good to see they're not wasting their money on unnecessary fripperies like calendars

Give customer services a call and ask for your 2012-2013 interest - that'll learn 'em.

VoucherMan

Vladislavs wrote: »

hey! im currently thinking about fixed rate 3 year ISA, 3% seems very good at the moment, but 3 years.... too long perhaps? imagine next year or year after rates wil go up

I thought that last year when I took out a 3 year @ 4.25%

Now I'm wondering if I should have gone for a 4 or 5 year.

I've gone for the 3%/ 3 year this time. The extra % for 4 or 5 years didn't seem worth it.

I'm hoping rates don't drop even lower but reading what others say I can't see rates going back up any time soon. So long as the government is throwing cheap money at the banks they don't need ours.

Gordon_the_Moron

Vladislavs wrote: »

hey! im currently thinking about fixed rate 3 year ISA, 3% seems very good at the moment, but 3 years.... too long perhaps? imagine next year or year after rates wil go up and you will be able to get 3% on easy access and 3.5% fixed? there is a risk to be trapped.
Ive got the same dilema right now, to put 15k all together on Chesire BS 2.3%, that will give me 345£ per year or
To put 13100£ from previous years on a fix rate 3% halifax, and another 1900£ on Conevtry BS 2.6%, which will give me 393£+49£ = 442£
So question is 345£ a year and easy access, or 442£ and 13k stuck for the next 3 years on 3%.........
Anyone can comment? If rates will stay as they are low, then for sure 3% is a good fix rate, but if they suddenly will go up next year, then im trapped!

If you'd get value for money out of it you could open a Santander 123 account and get 3% for 2 years.

latecomer

Potentially 3.1% on the Santander ISA if McIlroy wins a major. Every little helps.

rb10

latecomer wrote: »

Potentially 3.1% on the Santander ISA if McIlroy wins a major. Every little helps.

3.05%.

It's a one-off bonus of 0.1%, so actually only adds 0.05% to the rate in each year.