New First Direct e-isa
isasmurf
Posts: 1,999
Forumite
First Direct have replaced their e-isa with a new e-isa.
This one pays 5.37% (5.50%AER) Fixed until 15 February 2006, then drops to its very poor standard ISA rate of 3.93% (4.00%AER). As has become the norm with First Direct savings accounts, there are strange restrictions on the account. The old eISA has a condition that you can only transfer in current year ISA subscriptions, that has gone with this version. However they have placed a maximum limit on the balance in the account of £10,000. First time I've seen a maximum limit.
http://www.firstdirect.com/saveinvest/cash_isa.shtml
This one pays 5.37% (5.50%AER) Fixed until 15 February 2006, then drops to its very poor standard ISA rate of 3.93% (4.00%AER). As has become the norm with First Direct savings accounts, there are strange restrictions on the account. The old eISA has a condition that you can only transfer in current year ISA subscriptions, that has gone with this version. However they have placed a maximum limit on the balance in the account of £10,000. First time I've seen a maximum limit.
http://www.firstdirect.com/saveinvest/cash_isa.shtml
0
Comments
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It's 5.50% for 6 months [compares with 6.25% on previous offering] on balances upto £10,000 and then 4% [variable] as you say.
The limit is higher than than before, so you can earn more interest over the promotion and - because its 'CAT' standard there are no transfer fees if you want to move it somewhere else in February.
For anyone who did not apply for the previous fixed rate [which I assume is no longer available] it might be worth doing this. Say you're getting about 5.1% somewhere else now, and the transfer takes a week [in and out]and you transfer 10K. That's about 24/26ths of £40 [about £37] more minus 1/26th of £510 [about £20] .....about £17 net [hmm!, maybe not?].....under construction.... COVID is a [discontinued] scam0 -
Milarky wrote:The limit is higher than than before, so you can earn more interest over the promotion and - because its 'CAT' standard there are no transfer fees if you want to move it somewhere else in February.For anyone who did not apply for the previous fixed rate [which I assume is no longer available]0
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