ICESAVE 7.01% AER 1 year fixed rate a/c!!

[Deleted User]

Title says it all. Let battle commence.....:j

oldagetraveller

Excellent, I was on their site yesterday and instigated a funds transfer to open a 6 month bond so it looks like 12 months instead!
I already have their cash isa and another 6 months product so opening this will be easy peasy.

Woodyrocks

I opened 2 x 1yr fixed last month at the previous rate of 6.70% - can anyone tell me if I am stuck on that or will I be able to get the new rate of 7.01%?

Or do I need to open yet another one?!

Meltdown_2

Perhaps best to keep this all together with the earlier thread?
http://forums.moneysavingexpert.com/showthread.html?t=889851

T'Pau

Yes, I only made my post 4 hours earlier, and it includes a link.

david78

Just waiting for a deposit into my Easy Access account to clear then I will move it to this 7.01% deal I think.

Stompa

Woodyrocks wrote: »

I opened 2 x 1yr fixed last month at the previous rate of 6.70% - can anyone tell me if I am stuck on that or will I be able to get the new rate of 7.01%?

I'm pretty sure you're stuck. Opening another one would be the only option.

Paul_Herring

Woodyrocks wrote: »

I opened 2 x 1yr fixed last month at the previous rate of 6.70% - can anyone tell me if I am stuck on that or will I be able to get the new rate of 7.01%?

Or do I need to open yet another one?!

You're stuck with the 6.7% with the ones you opened last month. Any more that you open will get the 7.01% (You won't be able to prematurely close last month's bonds.)

john_kane_2

are you taxed on any of the interest in 08/09 or as it matures in may 09 will the interest be added on to your taxable income for 09/10?

Paul_Herring

john_kane wrote: »

are you taxed on any of the interest in 08/09 or as it matures in may 09 will the interest be added on to your taxable income for 09/10?

Interest becomes part of the tax year in which it is received/paid, not when it is 'earned.' (So the whole of any interest received becomes part of the 09/10 tax year in this case.)

sloughflint

john_kane wrote: »

are you taxed on any of the interest in 08/09 or as it matures in may 09 will the interest be added on to your taxable income for 09/10?

Taxed at source when it's paid so if you chose monthly, some of the tax will count for 08/09 but if you've recently opened it and chose annual, it will be counted as 09/10.