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Thread: Decent New Saffron ISA

  1. #1
    Contributor 1User
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    Decent New Saffron ISA

    For those who want a decent Regular Saver Cash ISA and are already members of the Saffron Building Society there is a limited (will be withdrawn by 30th April or earlier depending on demand) Members Only account paying 3.5% and up to £1,270 per month (the full 2015-2016 allowance) can be put in.

    For those who require a regular saver this is a pretty good rate. I must confess, as a member, I was not (to my awareness) notified about the account.

    Saffron Members also have the non-ISA 4% regular saver which will take a further £200 per month and - after the recent budget - will be tax free soon for many people.

    Good rates, a genuine "Benefit of mutuality" but better communication, letting members know, would be nicer still.

    1User
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  2. #2
    HB
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    Moderator HB will become famous soon enough
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    Thanks for the heads up. I've cancelled my standing order to Newcastle as they've just reduced their RS ISA from 3% to 2% over two months.

    Not sure I'm that keen on the Saffron one though as it goes to 1% after 12 months.
    Sterling Forever.

  3. #3
    Contributor 1User
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    Well it's not exactly "Fit and forget" but if you want the best rates you need to keep on top of things. Nothing worthwhile is easy. (Add any other platitudes you think apposite and pithy.)

    1User

  4. #4
    Member cmondynamite
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    I had a similar Regular Saver Cash ISA with the Saffron last year, which paid 4%. Yes, the default instant access ISA account after 12 months does only pay 1%. However, they do offer you alternative Cash ISAs at the time of maturity, if you are prepared to lock your money away for a further one or two years. I had a phone call with them this week to discuss my options, and the lady was very knowledgeable about the products they had on offer, and took a personal interest in what I was looking to do.

    I do agree with you 1User, some better communication for members would be nice though. Personally, I like to keep a regular check on the Saffron website, as they do seem to offer very attractive rates when compared to other societies, especially for members.

    I also have the 4% Regular Saver with the Saffron, and a Fixed Rate Members' Bond, simply because they are paying very decent rates.


 

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