2% 'Almost' Easy Access 40 days notice (amounts over £24k)

ScoobyZ

Credit to Libra10 for spotting this, worthy of its own post for those thinking of moving from FirstDirect when they change the rates in about 6 weeks.

Cash ISA 40 Day Notice

http://www.ybonline.co.uk/personal/savings/tax-efficient-savings/cash-isa-40-day-notice/

Amount of savings

Tax free++ / AER+ rate (%pa)
£24,000 and over 2.00%
£9,000 - £23,999 1.50%
£1 - £8,999 1.00%

Seems a good deal if you can give 40 days notice.

jimjames

ScoobyZ wrote: »

Tax free++ / AER+ rate (%pa)
£24,000 and over 2.00%
£9,000 - £23,999 1.50%
£1 - £8,999 1.00%

Seems a good deal if you can give 40 days notice.

Well spotted!

Useful for larger amounts but unfortunately not such as good deal for those with under £9k

libra10

I'm still undecided between this ISA and Yorkshire Building Society's 2% (one year) fixed-rate bond.

Will have to decide this week

LeafGreen

Good spot. I do have over £24k in a first direct ISA, which is due to drop from 2% to 1.5% in October. Just a slight shame that this one is not available online.

catwoman73

Oh, thanks so much for that! I have £25k in a FD ISA with the lowering interest rate. I don't want to tie it up because I have been dithering over an extension for years (queen of procrastination) so will need the money at fairly short notice when/if we ever get round to it.

But in the meantime - that's perfect and probably unbeatable in the current market!

niktheguru

The only problem I see with this account is that the rates were last changed 1st dec 2013....so could they possibly lower their rates in a mere few months (like everyone else has!)

Quite possible....not sure if worth the gamble. I might take my FD cash to the other yorkshire establishment!

libra10

niktheguru wrote: »

The only problem I see with this account is that the rates were last changed 1st dec 2013....so could they possibly lower their rates in a mere few months (like everyone else has!)

Quite possible....not sure if worth the gamble. I might take my FD cash to the other yorkshire establishment!

Wasn't sure whether Yorkshire Bank's rate would decrease and
opted for Yorkshire Building Society's 1 year fixed rate bond, at 2%. Sorted it out at the branch this morning.

niktheguru

Another option for those of you that don't live near a yorkshire building society (as it has to be opened in branch) is the chelsea building society e-isa.....basically identical to the yorkshire building society one (i believe they are affiliated) but you can open this ONLINE.

http://www.thechelsea.co.uk/savings/online/fixed-rate-eisa-31082015.html

colsten

niktheguru wrote: »

(i believe they are affiliated)

Nice spot. Chelsea notice period is 60 days - still not long.

Chelsea are owned by Yorkshire BS: http://www.thechelsea.co.uk/about/

They also own Barnsley Building Society and Norwich & Peterborough Building Society, who also offer a 2% 1 year deal. Both these are Branch and phone only though, and no withdrawals during the term.

Vortigern

colsten wrote: »

Chelsea notice period is 60 days

It's not 60 days notice, it's a 60 day interest penalty on early closure.

It's still relatively cheap for an early exit from a fixed term.

whattochoose

niktheguru wrote: »

The only problem I see with this account is that the rates were last changed 1st dec 2013....so could they possibly lower their rates in a mere few months (like everyone else has!)

Quite possible....not sure if worth the gamble. I might take my FD cash to the other yorkshire establishment!

I wonder if there's any chance rates may have risen by the end of the year, and the 2% rate may be maintained or even increased, or is that being too optimistic?