T212 cash ISA interest going to 4.50% from 01-MAR-2025

JohnB47 · 20 February at 3:43PM

I agree with your interpretation. New customers, after 1st March, will get an overall interest of 5.03% - a variable 4.5% plus 0.53% fixed for a year. Those of us who moved recently will get 4.5% variable plus around 0.12% for a year.

Oh to have a crystal ball.

slinger2 · 20 February at 3:48PM

Looks clearly better to wait until 1 March. I suppose there's a risk that the offer will be pulled by then.

MiserlyMartin · 22 February at 5:23PM

Stolas said:

Looks like Moneybox is doing the same.

“The underlying interest rate is changing from 4.45% AER (variable) to 4.20%”

So if you’re enjoying the current bonus rate of 5% you’ll end up with 4.75% which beats Trading 212, so could be worth transferring for some.

My moneybox ISA deal is being cut to 4.67, including a 0.47% bonus that expires in November. I debated transferring it out to a S&S ISA and go into cash funds that pay about 5.3% but I will leave it for the time being as, 4.67% isn't too bad I guess compared to some. Bank of England are making an error cutting rates while inflation is going up yet again, they are way past their 2% target and have been for most of the time. It's about time they went back to positive real rates.

MiserlyMartin · 22 February at 5:26PM

JohnB47 said:

Ha! On the very day I add funds to max out my newly opened Trading 212 ISA they drop the interest rate. Not by 0.25% but by 0.4%. Still a reasonable deal, considering the bonus rate that's fixed for a year.

They'll all go down now but perhaps not by more than the full BOE drop. Something to ponder come the new financial year.

0.4% is a bigger cut than the 0.25% drop. I had hoped that they would continue to offer rates closer to the moneymarket fund rates, but no it seems. Disappointing - so I am transferring out to a Freetrade S&S ISA and picking up their transfer in free share offer