13-01-2015, 06:04 PM
1
Savings Interest Rates
I may be telling people what they already know but someone I know has told me that he has an Investment Bond with Prudential that's just sent him his yearly Statement and he says that he's worked out that the interest paid last year was just over 5.8%I'm assuming that he probably has a lot more dosh than I have and mine's in piss-poor Instant access ISAs but I'm tempted to see how much and for how long to get that kind of interest so I thought I'd pass it on.
My ISA expires at the end of this month so I'll only be getting 0.50% after that but the catch now is that I can't transfer over to another Nationwide ISA, only start a new one from scratch.
That annoys me because, just like everything else these days, new customers get preferential rates etcetera from the Nationwide whilst loyal, existing customers get nothing.
A while back there were two attempts to get Nationwide to convert from a Mutual and I voted against it but, last time I voted I voted against the Pay of the Chairman & Directors because I believe that it's scandalous what they're paid when we get so bloody little - they're a MUTUAL, not a bank. stevmk2
13-01-2015, 06:30 PM
2
Re: Savings Interest Rates
steveyou say quote" I can't transfer over to another Nationwide ISA, only start a new one from scratch." unquote
that is exactly what you have to do each year, reinvest in another ISA to get a better percentage. Your building society should help with this and you should be able to stay with the Nationwide anyway.
We do this every year so we don't drop down to the lower rate. Nationwide should show you the options available and you just choose the one that suits you and Nationwide will do the rest.
The new ISA may or may not give a better interest rate then you are getting at the moment, but it will be better than just leaving it in your existing one to drop down to 0.5% after the first year
you say
I may be telling people what they already know but someone I know has told me that he has an Investment Bond with Prudential that's just sent him his yearly Statement and he says that he's worked out that the interest paid last year was just over 5.8%
What he didn't tell you is that is more than likely before tax is taken out , and has been left in for a long period of fixed number of years.
Remember people usually like to make out they are getting more interest than they actually are
link may be of interest to you
http://www.nationwide.co.uk/products...nsfer-your-isa
especially this part of the above in it
Transfer my ISA to Nationwide
Move between Nationwide ISAs
Transfer my ISA from Nationwide
hope this is of some help
13-01-2015, 07:00 PM
3
Re: Savings Interest Rates
Originally Posted by stevmk2
->
I may be telling people what they already know but someone I know has told me that he has an Investment Bond with Prudential that's just sent him his yearly Statement and he says that he's worked out that the interest paid last year was just over 5.8%one from scratch.
(failed maffs GCE)
13-01-2015, 07:21 PM
4
Re: Savings Interest Rates
RachelI left school before takeing GCE's, I hated school so much you would not believe.
To my way of thinking as long as you can read and write, add up and subtract, that is all you need in life to get by.
Take me for example, left school with absolutely no qualifications, did an a 5 year apprenticeship and an ONC (ordinary national cert.) in electro/mechanical engineering
Worked hard eventually got my own business and now retired with a reasonable income -nice house as you may have seen- run 2 cars (one new) and have a good holiday to Brazil in lue of what my younger son owes us which is several thousands for his first house over here as deposit.
Not bad for how i started out, so education is not all it is cracked up to be.
Sorry for jumping on your thread with something different
Stevmk2
13-01-2015, 08:01 PM
6
Re: Savings Interest Rates
Yes Bazza I think (hope) we eventually find our own way to do things and progress.I was far too shy to be much good at anything at school, except Art and you didn't really have to say anything during Art classes ..... bliss
further apologies for butting in also
13-01-2015, 08:05 PM
7
Re: Savings Interest Rates
I invested in FTSE linked equity bonds when the market was near its lowest. They should return 50% tax free over 7 years, so not too bad...But then again, when I retired almost 9 years ago, I could get 6% or 7% from most banks.
Bon't know what I'll do next - should get a state and another occupational pension this year. Maybe I'll spend them - I could do with a new motorhome.
13-01-2015, 10:28 PM
10
Re: Savings Interest Rates
Originally Posted by stevmk2
->
I may be telling people what they already know but someone I know has told me that he has an Investment Bond with Prudential that's just sent him his yearly Statement and he says that he's worked out that the interest paid last year was just over 5.8%I'm assuming that he probably has a lot more dosh than I have and mine's in piss-poor Instant access ISAs but I'm tempted to see how much and for how long to get that kind of interest so I thought I'd pass it on.
My ISA expires at the end of this month so I'll only be getting 0.50% after that but the catch now is that I can't transfer over to another Nationwide ISA, only start a new one from scratch.
That annoys me because, just like everything else these days, new customers get preferential rates etcetera from the Nationwide whilst loyal, existing customers get nothing.
A while back there were two attempts to get Nationwide to convert from a Mutual and I voted against it but, last time I voted I voted against the Pay of the Chairman & Directors because I believe that it's scandalous what they're paid when we get so bloody little - they're a MUTUAL, not a bank. stevmk2
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