Anyone rush to open a fixed rate account today?

JGal

Reaper said:

ratechaser said:

...in true Jack Cork style...

On the assumption that savings rates are going to get slashed again following this mornings rate cut, I've just set up a 2yr Oaknorth ISA (1.51%) as a safe haven to move my variable rate funds to.

Probably wise, as long as you are aware you only have 14 days to add funds to it before it locks and then you will be unable to add or withdraw any money for 2 years.

Mine says "You may make as many deposits as you like and transfer in from existing Cash
ISAs within 30 calendar days of account approval. Afer this period, no further
funding is permitted."

soulsaver

JGal said:

Reaper said:

ratechaser said:

...in true Jack Cork style...

On the assumption that savings rates are going to get slashed again following this mornings rate cut, I've just set up a 2yr Oaknorth ISA (1.51%) as a safe haven to move my variable rate funds to.

Probably wise, as long as you are aware you only have 14 days to add funds to it before it locks and then you will be unable to add or withdraw any money for 2 years.

Mine says "You may make as many deposits as you like and transfer in from existing Cash
ISAs within 30 calendar days of account approval. Afer this period, no further
funding is permitted."

And by regulation you must be allowed to withdraw from an ISA, albeit with a penalty.