Natwest cash ISA

Laurence_WMF

I've got just over 50,000 in my Natwest e-isa, opened a few years ago, current interest rate recently reduced to 2.25% AER.

Is this good, or should I transfer - if so, to whom?

Many thanks,
Laurence

helptoyou

You Could look at first direct note condition in bold.

Variable Rate Cash ISAs that accept transfers in:

First Direct Cash ISA - 3.00%
Rate guarantee? No. Rate effective from: 01/02/2012.
Minimum deposit: £40,000 (to qualify for the higher rate). Operated via: Internet, Post or Telephone.
Notes: A rate of 2.20% is paid on balances between £20,000 - £39,999, 1.70% on £10,000 - £19,999, 1.20% on £5,000 - £9,999 and 0.50% on £1 - £4,999. You must hold a First Direct 1st Account to apply.

AndyPK

its not bad. Quite good actually.

If it were me I would leave it.

By the time you move it, the goto rate will likely to have dropped !

innovate

helptoyou wrote: »

You Could look at first direct note condition in bold.

True, but it should be a doddle to get, and maintain, a First Direct current account. Should even be able to collate £100 signup in the process. Plenty of threads about this account on the forums.

innovate

AndyPK wrote: »

its not bad. Quite good actually.

If it were me I would leave it.

By the time you move it, the goto rate will likely to have dropped !

50,000 * 2.25% = 1,125
50,000 * 3% = 1,500 (plus £100 one off bonus if [STRIKE]I play my cards right[/STRIKE]) you play your cards right.

I know what I would do, and it isn't making about £400 or £500 less than I could make.

As an aside, and not to forget: once you have an FD current account, you also have access to their 5% Regular Saver. Useful if you have other money to save.

AndyPK

humm, might be a good one for my parents.

So if you have a joint FD account, you can transfer an ISA each ?

innovate

AndyPK wrote: »

humm, might be a good one for my parents.

So if you have a joint FD account, you can transfer an ISA each ?

should be able to - - but call them to confirm

LeafGreen

I would also go for the First Direct one with a current account - in fact I did and found it to be a painless experience. Interest is paid monthly which I quite like when reviewing my finances - if they did quietly drop the rate then I would notice the interest payment going down. I have not been charged anything for the current acconut but did leave some money in there just in case they made a mistake with that.

Mr_K

AndyPK wrote: »

So if you have a joint FD account, you can transfer an ISA each ?

Yes you can.

Laurence_WMF

Thanks a lot, everybody.

Laurence