Punjab or not Punjab????

dave_dph

Hi

In the absence of any feedback in relation to the Punjab ISA's I thought I'd start a new thread.

My Regular Saver ISA with Nationwide has now changed to the Instant ISA Saver paying 1.25%, the balance is just over £11k; the remainder of last years' allowance is in Nationwide's Flexclusive ISA at 1.5%. All previous years ISA subscriptions are in Santanders Fixed Rate ISA paying 2.3% until May next year.

In order to get the best return on my money I am now looking at what to do with the £11k sitting in Nationwide's Instant ISA Saver. It needs to be instant access as I may need to withdraw funds later in the year.

After reading negative comments about the Post Office ISA I've decided that isn't for me.

I don't want to go with Santander's Direct Saver ISA as I'm already up to my £85k limit with the Fixed Rate ISA and 2 x 123 accounts.

I already have ten current accounts to include: 2 x Santander 123, 2 x TSB Current Plus, 2 x Tesco, Nationwide FlexDirect, Club Lloyds and Halifax Reward, so those saving avenues are exhausted. That really leaves me with Punjab, or leave the £11k with Nationwide.

Does anyone have any other suggestions or positive feedback in relation to Punjab National Bank?

Thanks.

GreenBitterfly

It needs to be opened in branch, so that limits who can open one, I'd like to open an ISA with them, but can't due to the location of the branches.

dave_dph

I'm in Birmingham so getting to branch isn't a problem for me.

colsten

You could open 3 BOS Vantage accounts and put just over £3,666 into each of them, for 3% AER

OneADay

PNB - the rates are tiered. I opened fixed rate bonds which pay different amounts depending upon how long account is open for. The good side of this was I could take the money at any time - lose only the small interest and maybe get a better deal elsewhere.

So far no better deal has come along and I have had the accounts open for year or so (and had other accounts in past).

Process to open the account does require you to go into branch with 2 forms of ID.

PS and to close an account, you do also need to pop back in to branch with the savings certificate.

veryintrigued

A vote here for great service from them.

I live nowhere near a branch (and never have) and so all my correspondence is by email and post.

I have a few products with them.

I received a form about three weeks ago asking what I wanted to do with an ISA I had previously consolidated other providers ISAs into (including an option to close the account).

dave_dph

Thanks guys

Went into branch this morning and opened the variable cash ISA @ 2%, have arranged for both Nationwide ISAs to transfer.

All good!
:beer:

GreenBitterfly

veryintrigued wrote: »

A vote here for great service from them.

I live nowhere near a branch (and never have) and so all my correspondence is by email and post.

I have a few products with them.

I received a form about three weeks ago asking what I wanted to do with an ISA I had previously consolidated other providers ISAs into (including an option to close the account).

Hi, did you post an application form off then for the Cash ISA? Thanks!

dave_dph

They will send the application (and transfer) form out to you. They are looking to introduce online applications at some point in the future.