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Top Cash ISAs 2017/18 article - needs clarification

grumbler
Posts: 58,629 Forumite


RBS 1.05%
ETA: in fact, it's even more complicated. The rate on the first £20K is 1.05%/1.5% for balance below/above £25K (0.05% and 0.5% on the remaining balance accordingly). This makes it 1.3% on £25K.
The fact that 1.05% is paid on £20K only is absolutely unclear IMO and 'at least'+'min deposit' make this even more misleading.MSE wrote:Good rate FIXED for a year if you've £20,000
RBS* 1.05% AER
The Cash ISA from RBS* pays a good easy-access rate if you're able and willing to pay £20,000 into it. The rate's 1.05% which includes a fixed bonus of 1% for a year - meaning you've certainty that the rate won't drop below this.
You can withdraw money from this account without notice or penalty and you'd still get the bonus on any amount remaining. However as the ISA isn't flexible, any money you do take out can't be replaced as it'll count towards your annual ISA limit.
Need-to-knows...
- You must deposit or transfer at least £20,000 before 5 May to get the bonus
Min deposit: £20,000
ETA: in fact, it's even more complicated. The rate on the first £20K is 1.05%/1.5% for balance below/above £25K (0.05% and 0.5% on the remaining balance accordingly). This makes it 1.3% on £25K.
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Comments
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We're looking into this now, thanks for flagging.
AndreaCould you do with a Money Makeover?
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