Isa vs asavings

snapyou

Hi
I have £19000 in a 212 cash isa.
The aer is 4.7%

Nationwide,my bank,currently are offering 6.5% aer gross variable. 
So,would I be better transferring to them?
Hope someone can advise.
Thanks

TheSpectator

snapyou said:

Hi
I have £19000 in a 212 cash isa.
The aer is 4.7%

Nationwide,my bank,currently are offering 6.5% aer gross variable. 
So,would I be better transferring to them?
Hope someone can advise.
Thanks

The 6.5% is a regular saver to which you can only pay £200 per month.

Robin9

Have a look at the MSE guide 

www.moneysavingexpert.com/savings/best-cash-isa/

snapyou

TheSpectator said:

snapyou said:

Hi
I have £19000 in a 212 cash isa.
The aer is 4.7%

Nationwide,my bank,currently are offering 6.5% aer gross variable. 
So,would I be better transferring to them?
Hope someone can advise.
Thanks

The 6.5% is a regular saver to which you can only pay £200 per month.

Ah,well noticed.Thanks
Would it be worth paying in £200/month from my 212 funds?

TheSpectator

snapyou said:

TheSpectator said:

snapyou said:

Hi
I have £19000 in a 212 cash isa.
The aer is 4.7%

Nationwide,my bank,currently are offering 6.5% aer gross variable. 
So,would I be better transferring to them?
Hope someone can advise.
Thanks

The 6.5% is a regular saver to which you can only pay £200 per month.

Ah,well noticed.Thanks
Would it be worth paying in £200/month from my 212 funds?

Probably not, that £2,400 will earn more left where it is over 12 months at 4.7% than drip feeding £200 pm into a fixed rate at 6.5%.

That assumes the 212 rate doesn't drop whereas Nationwide is fixed.

Albermarle

TheSpectator said:

snapyou said:

TheSpectator said:

snapyou said:

Hi
I have £19000 in a 212 cash isa.
The aer is 4.7%

Nationwide,my bank,currently are offering 6.5% aer gross variable. 
So,would I be better transferring to them?
Hope someone can advise.
Thanks

The 6.5% is a regular saver to which you can only pay £200 per month.

Ah,well noticed.Thanks
Would it be worth paying in £200/month from my 212 funds?

Probably not, that £2,400 will earn more left where it is over 12 months at 4.7% than drip feeding £200 pm into a fixed rate at 6.5%.

That assumes the 212 rate doesn't drop whereas Nationwide is fixed.

However it will not be £2400 at 4.7% that the OP will be missing out on.
As each month only £200 will be removed from the T212 account, to be added to the N/wide regular saver.

So for example after 6 months they will be earning 4.7% on £1200 and 6.5% on £1200. So there is an advantage but ir will not be a fortune. Something like £20 over the 12 months . More if the T12 rate drops. 

TheSpectator

Albermarle said:

TheSpectator said:

snapyou said:

TheSpectator said:

snapyou said:

Hi
I have £19000 in a 212 cash isa.
The aer is 4.7%

Nationwide,my bank,currently are offering 6.5% aer gross variable. 
So,would I be better transferring to them?
Hope someone can advise.
Thanks

The 6.5% is a regular saver to which you can only pay £200 per month.

Ah,well noticed.Thanks
Would it be worth paying in £200/month from my 212 funds?

Probably not, that £2,400 will earn more left where it is over 12 months at 4.7% than drip feeding £200 pm into a fixed rate at 6.5%.

That assumes the 212 rate doesn't drop whereas Nationwide is fixed.

However it will not be £2400 at 4.7% that the OP will be missing out on.
As each month only £200 will be removed from the T212 account, to be added to the N/wide regular saver.

So for example after 6 months they will be earning 4.7% on £1200 and 6.5% on £1200. So there is an advantage but ir will not be a fortune. Something like £20 over the 12 months . More if the T12 rate drops. 

Very true but just noticed the Nationwide is a variable rate also a variable rate.

slinger2

Nationwide have both. A 4.25% 1-year fix and a 4.00% 1-year triple access with a variable rate.

The 1-year fix is almost competitive. Be interesting to see if they come up a "loyalty" offering this year.

Bigwheels1111

TheSpectator said:

snapyou said:

Hi
I have £19000 in a 212 cash isa.
The aer is 4.7%

Nationwide,my bank,currently are offering 6.5% aer gross variable. 
So,would I be better transferring to them?
Hope someone can advise.
Thanks

The 6.5% is a regular saver to which you can only pay £200 per month.

Yes you will gather a little more interest funding the Nationwide regular saver from trading212.
If you do it right it can be quite a bit more interest.
As of today I have 20 regular savers all funded from my Trading212 ISA.
Just over 4k a month is needed.
Some are bank offers, First Direct 7%, Building society, Principality 8%, 7.5%.
It’s a game of round and round.
I do not have 48k to fund all the reg savers, but maturity dates are staggered throughout the year.
I have 33k ish, last year I made £1900 - £2000 in interest from this game, more than the 4.5% if I left it in trading212.