Nationwide 2% Regular Saver ISA

Winrick

Hi all,

Just spotted this from Nationwide. 2% Regular Saver ISA savers allows you to deposit up to £1270 a month. Rate is until March 2016 and then drops to Instant ISA Saver. unlimited withdrawals allowed but no transfers in. Product details below (sorry if this has already been posted but I haven't seen it on here).

http://www.nationwide.co.uk/products/savings/regular-saver-isa/features-and-benefits

I was looking out for this product as I had the one from last year (which paid 2.5% but has now dropped for 1.25% Instant ISA Saver)

colsten

HSBC Regular Saver £250/mth 6%
FD Regular Saver £300/mth 6%
M&S Regular Saver £250/mth 6%
Lloyds Club Monthly Saver £400/mth 4%

That's £1,200 a month at rates that dwarf those ISA rates - particularly if we get £1,000 tax free interest from April 2016 (I know this is an 'if')

There are some other 4% and 3%+ non-ISA regular savings accounts.

ISA obsession is only justifiable if you are into accumulating money for the very long term (5+ years). Even then, you might be better off putting at least some of your long-term money into pension savings. And invest, rather than save, i.e look at S&S ISAs rather than cash ISAs.

Winrick

Yes I already have all of those plus rewards, 3 vantage and 1 santander.

My pension is already maxed out in terms of employer annual contributions so don't want to put anymore as I can't touch it for 27 more years.

I do agree with you with S&S ISA but feel that the market is overvalued and waiting for a dip in next 3-4 years before I pile in. In the meantime I'm investing in cash ISA's to keep the allowance and then converting to S&S ISA when I want to enter the stock market

DragonQ

2% gross or 2% AER? The same account last year was 2.59% gross.

I have maxed out all the accounts I can think of (although HSBC regular saver I hadn't thought of) but I want a Help To Buy ISA later this year so won't get a standard ISA now.