Is this worth it?

lucy_w86

Right, correct me if I am wrong but.......A&L are offering an ISA at 6.25% AER, which accepts transfers in and doesn't punish you for withdrawing early.

So I could move from Egg to A&L.

How do you go about transferring? Do I tell Egg first or apply through A&L first?

Is it worth moving?

Thanks!

:beer: :j :beer: :j :beer:

BenL

Here you go Lucy

Martin has an article that will guide you through it.

http://www.moneysavingexpert.com/savings/cash-isa-transfers

The articles are acces from the tabs at the top of the screen.

This one was in the Banking/Savings section (Orange)

Hope this helps

Ben

macca64

Is it worth it...well assuming you put last years £3,000 in on the 1st available day and left it for the whole of last tax year, you would have got £181.50 at 6.05%, so you now have £3,181.50. So if you transfer to A&L you will gain an extra £6.36 per year, assuming no loss of interest during the transfer period. Whether it is worth it is up to you.

Me personally, I will be leaving my 07-08 allowance with Egg for the time being.

Jfuller

I transfered to A&L a couple of years ago at the beginning of the tax year to get a headline grabbing rate. But by the time the transfer had gone through, they were promoting another ISA with a lower rate which is what I got. I for one wouldn't be tempted by their offers.