A&L Esave or Lloyds Fixed Rate ISA

nish

Hi all,

I have just over 6K with in an Alliance Leicester ISA at the moment.

I have about 3K that I need to invest for the 07/08 year. And should be in line to receive another 3K which can be deposited for the 08/09 year as soon as the tax year beings.. (or shortly after).

Im looking at putting the lot in the Alliance & Leicester Esaver, which offers 6.5%

http://www.alliance-leicester.co.uk/savings/index.asp?page=esaver&ct=savingshome

Would that be a transfer? If I stay with A&L as Im changing the product would I need transfer the previous funds?

Im also looking at the Lloyds attractive Fixed Rate cash ISA. This also accepts transfers in and has a rate of 6.5%

http://www.lloydstsb.com/savings/fixed_rate_cash_isa.asp


Are both the products from A&L and Lloyds the same? Im edging towards going to Lloyds.

Can anyone please advise me on if one would be better for me and if so why?

Thanks in advance

Nish

stevedb11

nish wrote: »

Hi all,

I have just over 6K with in an Alliance Leicester ISA at the moment.

I have about 3K that I need to invest for the 07/08 year. And should be in line to receive another 3K which can be deposited for the 08/09 year as soon as the tax year beings.. (or shortly after).

Im looking at putting the lot in the Alliance & Leicester Esaver, which offers 6.5%

http://www.alliance-leicester.co.uk/savings/index.asp?page=esaver&ct=savingshome

Would that be a transfer? If I stay with A&L as Im changing the product would I need transfer the previous funds?

Im also looking at the Lloyds attractive Fixed Rate cash ISA. This also accepts transfers in and has a rate of 6.5%

http://www.lloydstsb.com/savings/fixed_rate_cash_isa.asp


Are both the products from A&L and Lloyds the same? Im edging towards going to Lloyds.

Can anyone please advise me on if one would be better for me and if so why?

Thanks in advance

Nish

Hi Nish, I have the lloyds 6.5% fixed rate, but you only get the 6.5%, for ISA transfers over £9000,if you've only got £6000 to transfer its a lower interest rate, also even though the A&L has a bonus added, its a "variable" Interest rate and not fixed.
If you have a total of £9000, IMO I'd go with Lloyds
Hope this helps Steve;)

Lavendyr

The A&L Esaver isn't an ISA, it's a standard savings account.

nish

Lavendyr wrote: »

The A&L Esaver isn't an ISA, it's a standard savings account.

Ah! That must have slipped me by. Cheers for that. Decision made then.

Another issue which may cause problems..

I have the 3K for this years allowance in a A&L Premium Regular Saver, which is due to Mature on the 2nd of April. With the funds showing in my account the next day.

Im planning on moving this 3k to the 07/08 isa allowance also with A&L.
Will this go through straight away / in time before the cut off date for this years allowance?

I'll then have the 9K to transfer over to Lloyds for 08/09 so everything should work out nicely (fingers crossed!)

Lavendyr

I don't see any reason why not as that gives it 2 working days to get through and A&L to A&L should only take 1, but I'd do it all over the phone with A&L and get them to confirm that it will go through in time.

nish

Great. Thanks for that