Move from YBS to Kent Reliance?

Indispensable_Hobbes

Anyone care to comment whether it would be worth doing this?

Balance transferred to YBS £8.5k in April ... rate is currently 6.05% but KR is 6.21%

Details from the thread ""Mini Cash ISAs: The Best ISAs Currently Available List":

Yorkshire BS E-ISA - 6.05% NEW RATE
Rate guarantee? Yes, but not at the current rate. Will not be more than 1.00% below Base Rate.
Minimum deposit: £10. Operated via: Internet.

Kent Reliance BS Direct mini cash ISA - 6.21% NEW RATE
Rate guarantee? No. Minimum deposit: £1. Operated via: Post.

All comments appreciated .. usually from masonic

masonic

Far be it from me not to live up to your predictions, jennyking...

With a difference in rates of 0.16%, and assuming you'll lose no more than 5 days interest from the ISA cheque being in the post, you're looking at breaking even in 3-6 months (dependent on Royal Mail ). That's the sort of timeframe you'll actually have to wait to start gaining from doing the transfer (unless rates change).

So you're really gambling as to whether or not Kent Reliance will be a top payer during early 2008. The chances of something better coming along before then are pretty slim, so unless the KRBS ISA takes a nosedive it sounds like a fair punt to me.

Personally, I have money with YBS and I'm not planning on moving at the moment, mainly because the likely gain doesn't seem worth the hassle. It would just take a slightly bigger rate difference to make me rethink that, though.

YorkshireBoy

Have you considered moving to the YBS 30-day ISA, which pays a better rate of 6.15% (inc. 12 month bonus)?

ukdutypaid

There's a 6.55 one out there fixed for a year.....
I'm with Kent, but I'm tempted to switch for 0.26%
Then I wouldn't bother my (non too) pretty little head about it again...
Bothering about 0.? all over the place is doing my head in....
I upped my mortgage payment by about 50 per month and that's saved me about 8k....!! never mind all this 100 quid here, there and all the rest of it, with all the rate chasing...
I'm beginning to think it's all pointless... Regular savers included.. You never get the payment dates right and boy are they hassle to think about all the time...
Thank you for the opportunity for the therapy..!
Anyway the link...here
http://www.britannia.co.uk/c_savings/product/tax_free/frisa/prod.html

Indispensable_Hobbes

masonic wrote: »

Far be it from me not to live up to your predictions, jennyking...

Thank you ... as always .. making difficult things easier for me to work out x