Nationwide BS launch 6.15% fixed rate ISAs - w.e.f. 6th July 2007

Kazza242

Nationwide Building Society have today announced that they will be launching a new range of fixed rate mini cash ISAs paying 6.15%.

They offer the choice of a one or two year term paying the same rate. The minimum opening deposit is £1, and they allow transfers in of existing cash ISAs into the account.

The new fixed ISAs will be available from Friday 6th July 2007.

Check out Moneyfacts' information on both products:

1 Year Fixed Rate ISA 6.15% here.

2 Year Fixed Rate ISA 6.15% here.

Milarky

These will presumably start getting opened after Nationwide completes opening all the 5.85% fixed rate ISAs applied for - and then gets to work on the backlog of 6.05% fixed rate ISAs applications also?

(So, sometime around October?)

neetugopal

Checked the one year fixed link and it is mentioned "Transfer out penalty 90 day loss.". Does it only apply if you transfer within one year or even after one year term?

Thanks

Kazza242

neetugopal wrote: »

Checked the one year fixed link and it is mentioned "Transfer out penalty 90 day loss.". Does it only apply if you transfer within one year or even after one year term?

Thanks

It applies if you transfer out or close your fixed rate ISA before it has matured. After it as matured the ISA is converted into an easy access variable rate ISA, which you can transfer to another provider without penalty.

More info on the Nationwide fixed rate ISAs: http://www.nationwide.co.uk/savings/rates.htm

Nationwide ISAs PDF.

Lychee

Milarky wrote: »

These will presumably start getting opened after Nationwide completes opening all the 5.85% fixed rate ISAs applied for - and then gets to work on the backlog of 6.05% fixed rate ISAs applications also?

(So, sometime around October?)

October sounds optimistic. I've been waiting 12 weeks and still not a word from Nationwide.