NS&I isa rate after next base rate reduction....

[Deleted User]

Anyone reckon that the ns&i direct isa rate will drop again after next interest rate cut? It's currently paying 5.55%, but I'm guessing it may drop by 0.25% in line with coming base rate cut... Anyone agree with me.....?:money:

Thanks in advance folks.

ManAtHome

Think "they" have decreed that NS&Crock have more need of your dosh. I'm sticking with the old index-linked stuff (1.35% + dodgyrpi), but the ISA and PBs will be moving onwards.

bristolleedsfan

I agree with u Goldfinger. :beer:

McSaver

I Agree as well - they are always 1 of the first ones to drop the rate when the BoE announces a rate cut.

RayWolfe

And the first to raise them when rates are going the other way.

macca64

The government will prefer cash to go to Northern Rock rather than NS&I, hence the recent reductions.

Kilty_2

How do I transfer my NS&I Direct ISA to another provider?

EDIT -

31. You may transfer your NS&I Direct ISA (in accordance with the ISA Regulations) to a cash ISA or a stocks and shares ISA with a different ISA manager by contacting the ISA manager to whom you wish to transfer your ISA. The transfer will depend on the other ISA manager agreeing to the transfer. Transfers into an NS&I Direct ISA from another ISA manager are not permitted.

RayWolfe

Do what it says. Contact your new provider and fill in their form. They will organise the transfer.

wiseman405

Is this quite easy to do?

Thanks
Tom

RayWolfe

Very ... if your new provider gets their finger out. If not ... it can be stressful. If you go for a provider who has good customers service as well as a reasonable rate, life may be less fraught.

bristolleedsfan

wiseman405 wrote: »

Is this quite easy to do?

Thanks
Tom

If u go for a new provider whom backdates interest to date of outgoing transfer cheque then you lose nothing at all.

Examples are Abbey,Nationwide and Halifax.