Santander Isa Rate just dropped!

freeasabird

I just called Santander's to find out about their easy access ISA and it has just dropped from 1.5% to 1%. Very disappointing but that's why they call it a variable rate.

Zola.

Liquid cash held in the bank these days is basically costly erosion

intalex

Had a quick look at the interest rate schedules on their website, and it seems the 1.5% version (Issue 5) is still at 1.5% for now and off-sale, and a new version (Issue 6) has been released at 1.0% (both for the 123 version)

d63

this is excessively tiresome since i just opened one of these accounts. the T&C say they will give 14 days notice if the rate goes down, but i've not had an email or anything as yet and logging into my account it says the rate is still 1.5%, for the moment at least.
so my question is has anyone received notice of their rate (eISA issue 5) going down?

soulsaver

123 peeps 1.5% to be maintained for the year for people who have already opened the account iss 5

colsten

This is just the normal ISA rate pattern we see every year. The rates are dropping soon after April 6 as many people have filled their boots and banks have a limited allocation of the 'good' rates.

Lesson to learn for next year: don't hang about if you see a good rate. If it's an instant access one, there is no reason why you shouldn't open the account there and then, as deposits can be made at any time at a later stage, or never if you find an even better one before you made your first deposit in a given tax year.

Paul_DNAP

Oh crud, I've just checked, their 2-year fixed ISA offering has also dropped, they were saying 1.9% for 123 customer, just refreshed my saved page and it's saying 1.3% - that's a swizz as I was waiting for a fixed rate o mature on Friday to move into that over the weekend.


Going to have to re-draft my plans now.

JGB1955

The offer was due to end at midnight yesterday.... and did.

Paul_DNAP

Ah well, dumb of me not spotting that, I could have opened it yesterday as there was a window to make the transfer request.


So it looks like it's staying in T' Skipton building society after all.

soulsaver

Paul_DNAP wrote: »

Ah well, dumb of me not spotting that, I could have opened it yesterday as there was a window to make the transfer request.


So it looks like it's staying in T' Skipton building society after all.

For the benefit for others not seeking a fixed rate..
1.45% easy access ISA from Paragon.. note it says 'limited edition' ...:)

https://www.paragonbank.co.uk/personal/savings/view-accounts/cash-isa/limited-edition-easy-access-isa

soulsaver

Paul_DNAP wrote: »

Ah well, dumb of me not spotting that, I could have opened it yesterday as there was a window to make the transfer request.


So it looks like it's staying in T' Skipton building society after all.

And 1.95% 2 year fix here.. £5k min

https://chartersavingsbank.co.uk/Products/ISAs