Nationwide Building Society Loyalty!

2010

Goodbye NW "loyalty" cash ISA 1.4% to .25%.
Shawbrook two year fix ISA 1.48%.
https://www.shawbrook.co.uk/direct/savings/personal-savings/cash-isa-accounts/
The only thing any of these providers understand is people voting with their feet.

Albermarle

2010 said:

Goodbye NW "loyalty" cash ISA 1.4% to .25%.
Shawbrook two year fix ISA 1.48%.
https://www.shawbrook.co.uk/direct/savings/personal-savings/cash-isa-accounts/
The only thing any of these providers understand is people voting with their feet.

This is about the last one offering this rate for this product , most of the similar offers from Aldermore; Charters, Kent Reliance etc have been reduced. So anybody thinking of moving had better get on with it .

Starbrite

I am probably about to ask the most silly question ever.... a fixed ISA that is just the interest rate that is fixed? you can still pay into the ISA?

And what are Jr ISA's offering higher interest rates!

eskbanker

Starbrite said:

I am probably about to ask the most silly question ever.... a fixed ISA that is just the interest rate that is fixed? you can still pay into the ISA?

The interest rate is fixed but the flipside is usually that you can only pay in during a short initial window of 14 or 28 or 30 days.

Starbrite said:

And what are Jr ISA's offering higher interest rates! 

Junior ISAs are, as the full name suggests, only available to children.

Albermarle

The interest rate is fixed but the flipside is usually that you can only pay in during a short initial window of 14 or 28 or 30 days.

There was a post a few days ago that said that Kent Reliance allowed you to add funds during the whole period of the Fix.

Looking at their website this does seem to be the case, but it is certainly unusual/unique if it really is like that.

Tildaplum

Yes I agree Kent does seem to be unique.

normally with a fixed rate ISA you have a very short window once you have opened it to fund the account after that no more deposits are allowed.

hmmm sorry just realised eskbanker said exactly that.

andreww111

I've got an earlier version of Kent Reliance 2 year fix. I could deposit within first 14 days of initial deposit but could'nt after that.

2010

I might be wrong but i think Shawbrook gives you 14 days to fund it even if it has been withdrawn.

Albermarle

2010 said:

I might be wrong but i think Shawbrook gives you 14 days to fund it even if it has been withdrawn.

They all do that , they honour the deal , even if the offer is withdrawn within the funding period. 

epm-84

worldtraveller said:

newatc said:

Nationwide are massively cutting their savings rates from May. Account such as Loyalty Saver (currently 1.1%) and Loyalty Single Access (currently 1.4%) reduced to a measly 0.25%. So much for loyalty! 

The BOE base rate is now 0.1%, so why do you believe that 0.25% is still not rewarding loyalty?

Their Triple Access ISA for new customers offers 1% interest, their single access Loyalty ISA will offer 0.25% interest, so they are focusing on an account used as bait for new ISA customers, opposed to rewarding existing customers who hold one of their so-called loyalty products.