Re: Savings Interest Rates
steve
you 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