ICESAVE 6.7% bond

Primrose

I see Icesave are offering a 6.7% One Year fixed rate bond. If you're already a saver with them and can tie up your money for a year it seems that you could easily transfer most of your balance from your existing account to the bond and gain the extra interest.

david78

You can pick between:

AER
6.70% for 1 year
6.60% for 2 years
6.50% for 3 years

Minimum is £1000.

Happy_saver_4

Nationwide are also offering a 6.7% bond

SEE HERE

MABLE

I have a bond with Coventry and pays 6.05% for a year. If I cash in now I will lose 180 days interest. However if I can secure the same amount at 6.5 for three years it may be worth doing that.

Liz_the_Whizz

Happy_saver wrote: »

Nationwide are also offering a 6.7% bond

Yes, but you have to open a current account with Nationwide to open a bond - too much faff.

Happy_saver_4

Liz_the_Whizz wrote: »

Yes, but you have to open a current account with Nationwide to open a bond - too much faff.

Hi Lizz, you don't do much whizzing then?

I didn't realize you had to open a current ac. as I already had an account.

A bit off topic, but anybody who does a modicum of travelling (whizzing around) should have a N/wide plastic card, being the cheapest to use when travelling abroad.

Sapphire

I don't think you have to open a current account with Nationwide - the bond is (or was) generally available for a while.

I have accounts with Nationwide, so it was very easy to open the bond.

Hazzanet

Clicking "I do not have a NW FlexAccount" takes you to the FlexAccount Application. Also the Q&A's state:

How do I open an e-Bond?

You can open an e-Bond simply by making a one off lump sum investment from a FlexAccount, Nationwide's current account.

Whilst it's not been made crystal clear, it would appear that a FlexAccount is a pre-requisite for an e-bond, much like the e-saver.

HTH

gt94sss2

Hazzanet wrote: »

Whilst it's not been made crystal clear, it would appear that a FlexAccount is a pre-requisite for an e-bond, much like the e-saver.

Nationwide are also offering the 6.7% rate in branches as the '1 Year Loyalty Fixed Rate Bond' - this is not an 'e-bond' so don't need to open/have a FlexAccount.

Regards
Sunil

Stompa

How safe are the IceSave bonds? Presumably you're covered by the £35k guarantee - but that would be across all IceSave accounts? And in the unlikely event it were to go pear-shaped you'd not be able to withdraw funds from the bond.

bristolleedsfan

Stompa wrote: »

How safe are the IceSave bonds? Presumably you're covered by the £35k guarantee - but that would be across all IceSave accounts? And in the unlikely event it were to go pear-shaped you'd not be able to withdraw funds from the bond.

http://www.thisismoney.co.uk/ask-an-expert/savings/article.html?in_article_id=421134&in_page_id=7

withdrawals from icesaves bonds would be as per the terms and conditions, the same as fixed rate bonds offered by all savings providers.