Cash ISA - 3.10% new rate at Nationwide @ Nationwide.co.uk - HotUKDeals - Page 2
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New ISA rate from 17/02/12 - £1000 + for new and existing customers.

You will need to hold or open a Nationwide card account to apply (excludes Regular Savings)
- Reser
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4y, 7m agoFound 4 years, 7 months ago
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#41
S23
Seriously, can anyone explain to me the point of ISAs?

You put in £1k-£3k that you're not allowed to touch for a good portion of your life (3 years or so), to only earn a measly £35 or so and then usually place it all back into another ISA...



Which part of " unlimited access " do you not understand?
banned#42
S23
Seriously, can anyone explain to me the point of ISAs?

You put in £1k-£3k that you're not allowed to touch for a good portion of your life (3 years or so), to only earn a measly £35 or so and then usually place it all back into another ISA...


You get £5400 "each year" tax free and it accumilates.

You can keep adding £5400 each year, in 10 years time you can have £54,000 with a potential 3-6% interest TAX FREE.

You can keep building it up and up, the earlier you start the better and you can then transfer what you have built up to whoever has the best interest the next tax year AND add the extra £5400 for that year onto what you just transferred.

If you do not put any money in this year then you just lost your £5400 tax free amount, and that would be tax free for the rest of your life as long as you keep transferring it ISA to ISA.

There is also a ton of easy access ISAs that DO let you access your money and withdraw funds as much as you like and add funs whenever as long as not over the £5400 for the year.



Edited By: Reser on Feb 20, 2012 00:20
#43
Thank-you OP. I'm an existing Nationwide ISA user from last year so I'm glad that I can move over again before last years introductory rate goes down.
#44
punkstoner1
My gold coins have returned about 15% over the last year :)

we all like to know where you put your magic beans to get returns of 15%.
#45
mgk
bigbak
It's the best rate I've seen. I've already got an online one with them so not sure if it allows a transfer of that.

It's not clear here:
http://www.nationwide.co.uk/savings/cash_isa/onlineisa/isainternaltransfers.htm


Bigbak - why you say unclear? I am in the same position as you but this looks like you can transfer no issues as I read it?


I didn't think it was that clear. I'd have liked the words "any cash ISA with us". I've messaged them to check.
I'll have to wait because I think my current rate with them is higher than this one.

Worth reminding people that getting your money out is a bit of an ordeal. You can send a request by post or transfer to a cash card account. The cash builder has a low withdrawal amount each day so it can take a few days just to get £500.
#46
Why do banks state 'New and existing customers'? Does that exclude anyone!!
#47
HSC
radionotme
Why is everyone so down on having to have a card account? Mine sits with zero balance, unused, quite happily, just so I can get the rate. Was no more hassle to setup than the ISA alone.


I think people worry about unused accounts still being a black mark on their credit rating? I think the general advice from the credit rating agencies like Experian is to close any accounts or credit cards you don't use because these are seen by lenders as a possible way of running up debts in competition with the credit you are wanting to take up with them.

I don't quite understand what you are getting at here. Card accounts are not credit cards. The card is simply a cash card for withdrawing money from your account. The only way your credit rating could be affected is if one of your card accounts was a current account and you were persistently overdrawn. The Invest Direct account which carries a card is a savings account and doesn't appear on your credit file.
#48
Just by Crude futures and sell them after crude rises. Israel and mad Iran are soon slated to start a war by around April, by that time crude will be at 160 to 180$/barrel. Return of around 40% in next 4 months. LOL
#49
I believe Halifax are doing a 3.5% Fixed rate ISA currently, although this is a 2 year rate.

Edited By: ukcobra on Feb 20, 2012 08:18
#50
leeparsons
punkstoner1
My goldcoins have returned about 15% over the last year :)

we all like to know where you put your magic beans to get returns of 15%.

I think a clue may have been provided...
#51
So if you put £1000 in for a year earning 3.1 %,it earns you........just over £30,and this is a HOT deal.oO
1 Like #52
UnclePotter
So if you put £1000 in for a year earning 3.1 %,it earns you........just over £30,and this is a HOT deal.oO


And if you put the full £5400 in it will earn you £160. Hotter than saving 20p off tins of soup, even if bulk buying said soup.

Edited By: gwapenut on Feb 20, 2012 08:42
#53
The M&S Isa looks a better proposition for me at 3% .Not worth all the fuss of opening new savings account at nationwide for extra 0.5%.Plus M&S has no bonus period but can not be viewed on line .Can be opened on on line though and accepts transfers in from earlier periods.Probably better offers will arise in the run up to April.
#54
I had this deal in December....At least I think it's the same. Damn, I am paranoid now. I will have to dig out my paperwork and check, can't find what interest rate I am getting on my online banking. Anyone know how I can quickly find out?
#55
Probably only change is an extension to the bonus period?
#56
For existing ISA customers this is not a good deal. Natwest are doing fixed rate 1,2 and 3 year transfers with much better rates. Ends this week for transfers. 3 year fixed rate pays a whopping 4.2% A YEAR. So I have moved mine to them, happy days! Had I thought about it I would have posted it but have never posted and didn't think of it. 1 year fix is 3.35% which is much better than this rate, I think 3.8% for 2 years and 4.2% for 3 years all with an ISA transfer. Link:

http://www.natwest.com/personal/savings/g2/isas/fixed-rate.ashx?extcam=ppc_NatWest-Savings_Brand-Fixed-Rate-ISA-Exact_Brand%7Cnatwest+fixed+rate+isa
#57
So I have posted it.
#58
Stocks and shares isas are where its at. £10680 allowances a year and returns way above cash isas. A low risk bond investment with m+g was 8% over the last year. A high risk one was 30%. obviously it could go down but unlikely in current climate.
#59
neilm22
For existing ISA customers this is not a good deal. Natwest are doing fixed rate 1,2 and 3 year transfers with much better rates. Ends this week for transfers. 3 year fixed rate pays a whopping 4.2% A YEAR. So I have moved mine to them, happy days! Had I thought about it I would have posted it but have never posted and didn't think of it. 1 year fix is 3.35% which is much better than this rate, I think 3.8% for 2 years and 4.2% for 3 years all with an ISA transfer. Link:

http://www.natwest.com/personal/savings/g2/isas/fixed-rate.ashx?extcam=ppc_NatWest-Savings_Brand-Fixed-Rate-ISA-Exact_Brand%7Cnatwest+fixed+rate+isa


Not really a like for like comparison with the Nationwide offer
3.35% is only for Transfers in (which is what I assume you mean by "for existing ISA customers") - not new savings (new savings is 2.6%).
For years 2 and 3 to be worthwile you are have to assume interest rates won't be increasing much over that period.
No Withdrawals (obviously with any ISA you should not make withdrawals if you can avoid it)


Personally I still prefer the Nationwide one....



Edited By: Deanc1966 on Feb 20, 2012 21:21
#60
By about 7th march a new Barclays golden Isa will be out... Im Sure it will be 2.2% plus 1% bonus, but long term 2.2 or just get offset mortgage and long term make a bomb of a saving whilst keeping tax free status!
2 Likes #61
It does allow transfers in from existing e-ISAs
#62
MarkyB77
By about 7th march a new Barclays golden Isa will be out... Im Sure it will be 2.2% plus 1% bonus, but long term 2.2 or just get offset mortgage and long term make a bomb of a saving whilst keeping tax free status!


http://www.barclays.co.uk/Savings/GoldenISA/P1242558345273

The current one doesn't allow transfers in.
#63
MarkyB77
By about 7th march a new Barclays golden Isa will be out... Im Sure it will be 2.2% plus 1% bonus, but long term 2.2 or just get offset mortgage and long term make a bomb of a saving whilst keeping tax free status!


http://www.barclays.co.uk/Savings/GoldenISA/P1242558345273

The current one doesn't allow transfers in.
1 Like #64
neilm22
For existing ISA customers this is not a good deal. Natwest are doing fixed rate 1,2 and 3 year transfers with much better rates. Ends this week for transfers. 3 year fixed rate pays a whopping 4.2% A YEAR. So I have moved mine to them, happy days! Had I thought about it I would have posted it but have never posted and didn't think of it. 1 year fix is 3.35% which is much better than this rate, I think 3.8% for 2 years and 4.2% for 3 years all with an ISA transfer. Link:

http://www.natwest.com/personal/savings/g2/isas/fixed-rate.ashx?extcam=ppc_NatWest-Savings_Brand-Fixed-Rate-ISA-Exact_Brand%7Cnatwest+fixed+rate+isa

Depends on your circumstances. I might be trying to buy a place later in the year, and if so will need access to my cash for a deposit, stamp duty land tax, legal costs, etc. Therefore I cant afford to tie my cash up for 3 years.

By swapping to Online ISA Issue 3 from Online ISA Issue 1 I've been able to jump 0.35% in interest with no further considerations, and my cash is still there whenever I need it. Just for the remaining part of the 2012 that's going to increase my tax free interest returns by over £50 which is easy free money.

Thanks OP.
#65
neilm22
For existing ISA customers this is not a good deal. Natwest are doing fixed rate 1,2 and 3 year transfers with much better rates. Ends this week for transfers. 3 year fixed rate pays a whopping 4.2% A YEAR. So I have moved mine to them, happy days! Had I thought about it I would have posted it but have never posted and didn't think of it. 1 year fix is 3.35% which is much better than this rate, I think 3.8% for 2 years and 4.2% for 3 years all with an ISA transfer. Link:

http://www.natwest.com/personal/savings/g2/isas/fixed-rate.ashx?extcam=ppc_NatWest-Savings_Brand-Fixed-Rate-ISA-Exact_Brand%7Cnatwest+fixed+rate+isa


I need ready access to my cash so the Nationwide deal is better in my circumstances.
The Natwest deal looks good if you can tie your cash up for that length of time and interest rates don't go up.

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