Post office Cash ISA - Easy Access Issue 2 "bonus rate"

sleepyhead78

Hi,
Could someone explain the Easy Access Issue 2 Cash ISA interest rates to me please!
It says it's 1.4% variable, which "includes a 0.76% fixed bonus for the first 12 months".
In the fact sheet it says after the first 12 months the interest rate "reverts back to the variable rate".

So does that mean the first 12 months the interest rate is just 0.76% fixed, then it goes up to 1.4% variable? Or that it simply wont go lower than 0.76% for the first 12 months, but will be variable? Or am I misunderstanding the whole "bonus fixed rate" bit?

Ultimately, what I want is to transfer my current ISA balance to the account, IF the rate is 1.4% variable. If it's 0.76% I won't bother.

Cheers,

Phil

badger09

sleepyhead78 wrote: »

Hi,
Could someone explain the Easy Access Issue 2 Cash ISA interest rates to me please!
It says it's 1.4% variable, which "includes a 0.76% fixed bonus for the first 12 months".
In the fact sheet it says after the first 12 months the interest rate "reverts back to the variable rate".

So does that mean the first 12 months the interest rate is just 0.76% fixed, then it goes up to 1.4% variable? Or that it simply wont go lower than 0.76% for the first 12 months, but will be variable? Or am I misunderstanding the whole "bonus fixed rate" bit?

Ultimately, what I want is to transfer my current ISA balance to the account, IF the rate is 1.4% variable. If it's 0.76% I won't bother.

Cheers,

Phil

It means this

You might want to read around this and the main Savings & Investments forum before you take the plunge. There are several recent threads about problems opening, transferring in, and accessing various PO savings accounts.