Nationwide 2.5% Regular Saver ISA

C_Mababejive

2.5%??? Mockery..hahahahaaaaaaaaaaaa...............

brenda10

RowaN wrote: »

DAMN! I missed the smallprint "a maximum monthly deposit of £1250" .... I've opened this today with £10... so my plan to dump £15k (less £10) into this in a few months time is no longer possible. Yet, I could have opened this with more than £1250?

I told the cashier in the branch (Surbiton) my plan and she didn't warn me about the limit... not very helpful banking at all.

Either send them a secure message online or go into your bank and ask them to cancel your application. Cant see there will be any problems within time limit though. Good Luck.

brenda10

david78 wrote: »

Given this isn't really a monthly saver, and the fact that I can open/subscribe to two cash ISA accounts with Nationwide, can I do the following if I have the money to invest today:


(a) Open this Regular saver and pay £1250 today, and
(b) Open a Flexclusive ISA (1.75%) and pay £4,690 today


Then on 1st July:


(c) Pay £1250 to the regular saver ISA, and
(d) Pay £310 to the Flexclusive ISA


This assumes I can miss payments. The only payments I would make to the Regular saver are (a) and (c). Can someone check my maths too.


(I only want to save £7500 as cash this year as I am also paying £625 per month to a S&S ISA starting tomorrow).

Good Luck.

brenda10

david78 wrote: »

Material Girl, You can keep the Flexclusive and start the Regular Saver alongside it next Month. Just be sure you don't exceed your allowance overall on both accounts.

Is the above question possible? This is in NATIONWIDE.
Or does it have to be selection of different types ie 1 regular isa saver and one flexclusive opened this year as long as I don't pay in over the limit in the two accounts(I know I can only save 1250 into regular isa each month)

innovate

You can pay into more than one cash ISA at nationwide in the same financial year. They are one of the very few providers offering this.

However, it escapes me why anyone would want to put any money into a 1.75% ISA now, when you can get double or more even after tax in current accounts and in at least one instant access monthly saver.

Similar for the 2.5% ISA. Open it with a tenner by all means so you have the ISA, then fill it up next March, before the new tax year starts. Or fill some other ISA next March, because the 2.5% one will mature very shortly then and its interest rate will plummet.

david78

brenda10 wrote: »

Is the above question possible? This is in NATIONWIDE.
Or does it have to be selection of different types ie 1 regular isa saver and one flexclusive opened this year as long as I don't pay in over the limit in the two accounts(I know I can only save 1250 into regular isa each month)

Yes it is possible. You can subscribe to as many Nationwide cash ISA accounts in a year as you like.


innovate's point is you should also consider saving your money outside cash ISAs if you can get more interest after tax in those accounts, and only move it into a cash ISA at the end of the tax year.

david78

innovate wrote: »

Open it with a tenner by all means so you have the ISA, ...

Just £1 is enough

brenda10

innovate wrote: »

You can pay into more than one cash ISA at nationwide in the same financial year. They are one of the very few providers offering this.

However, it escapes me why anyone would want to put any money into a 1.75% ISA now, when you can get double or more even after tax in current accounts and in at least one instant access monthly saver.

Similar for the 2.5% ISA. Open it with a tenner by all means so you have the ISA, then fill it up next March, before the new tax year starts. Or fill some other ISA next March, because the 2.5% one will mature very shortly then and its interest rate will plummet.

Basic tax payer:
Have a Barclays monthly saver at 3.2% 250£ per month allowed in .12 months ends sept 14.
Have Halifax reward acc=£5x2 month (1 single/1 joint acc)
Have Halifax clarity credit cd spend £300 mth =£5
Have various other isas for past few years.
Am saving for money for house purchase so want £ to be available end of this yr.
Any other suggested Isas other than Nationwide 2.5 Regular Isa saver.
Could I have 2 different Nationwide Regular saver isas(opened day after each other)-does it state ONLY 1 REGULAR ISA SAVER per person? per financial year? Any help welcome.
If not stated maximum 1 per person I would be able to open 2 Regular Isa savers myself
I want to make as much interest/money in the short term for my house instead of greedy taxman re-taxing my earnings again.
Can someone guide me on the right path, thanks.

Archi_Bald

No, you would not be able to open two of the same ISA accounts in Nationwide.

But you would be getting a lot more interest for your money in TSB Plus and Club Lloyds, and the Club Lloyds Monthly Saver. That is, for £9,000 immediately, and then 12 x £400 into the Monthly Saver, ie. a total of £13,800 over the year. The remaining £1,200 of your ISA allowance could go into an ISA.

You could also look into the DotComUnity ISA which pays 3% and allows transfers in, as well as lumpsum deposits of new money. It is effectively a 12 months fixed term but you can give 90 days notice. There's separate thread somewhere for this ISA.

brenda10

Archi_Bald wrote: »

No, you would not be able to open two of the same ISA accounts in Nationwide.

But you would be getting a lot more interest for your money in TSB Plus and Club Lloyds, and the Club Lloyds Monthly Saver. That is, for £9,000 immediately, and then 12 x £400 into the Monthly Saver, ie. a total of £13,800 over the year. The remaining £1,200 of your ISA allowance could go into an ISA.

You could also look into the DotComUnity ISA which pays 3% and allows transfers in, as well as lumpsum deposits of new money. It is effectively a 12 months fixed term but you can give 90 days notice. There's separate thread somewhere for this ISA.

Thanks Archi bald
Have other savings in a 5 yr Newcastle building society at 4.2% with 6 month notice so will read all your info which is v helpful, some £ tied up and some not. thanks.