Trading 212 Cash ISA's GROSS interest rate?

dlevene

Mine too. Bit odd - nobody tell them!

Wheres_My_Cashback

The 5.05% changed overnight Sunday and interest has been paid at that rate for 2 days now. Error or ?

ETA : it's also now being advertised at 5.05% on a sponsored link so looks there has been a stealth increase of 0.05% AER

Johnny-Cage

Wheres_My_Cashback said:

The 5.05% changed overnight Sunday and interest has been paid at that rate for 2 days now. Error or ?

Mine was defo last night coz interest jumped up 2p today 

dlevene

It is odd - if you Google it, it comes up as 5.05%, but when you click through it still says 5%.

So I'm not sure if it's a mistake or as WMC says, for some reason a stealth increase...

Wheres_My_Cashback

But I've also just noticed another oddity. Using the slider on the graph on 3rd Sept for me it says the rate was 0.00% !!

Johnny-Cage

Unless they’re upped it to be ahead of Chip

slinger2

Johnny-Cage said:

Unless they’re upped it to be ahead of Chip

Almost certainly. Trivial difference anyway. 4p a month for every £1,000.

freeguy1984uk

Just checked mine and the AER is now 5.10%    

And using the Optimly calculator from a previous reply on here, the gross is now 4.97%

I believe they only have to notify us (in advance) if it's a rate DROP.

As others have mentioned, check any other bank or building society offering savings accounts and you'll likely see the gross rate mentioned alongside the AER. Or the gross rate would definitely be in the product sumary sheet.

It's a fair point that Trading 212 might not have understood what I meant by the word gross, but if they are offering savings accounts to the UK market then they better get used to the lingo fast 

slinger2

5.10% for me too (all 3 accounts). No idea what they're up to. Perhaps some publicity?

Johnny-Cage

slinger2 said:

5.10% for me too (all 3 accounts). No idea what they're up to. Perhaps some publicity?

Chip increased there rates further today to 5.07%