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  • FIRST POST
    • Kazza242
    • By Kazza242 14th Mar 07, 10:18 PM
    • 1,891Posts
    • 2,438Thanks
    Kazza242
    New Cash ISAs (NISAs): The Best Currently Available List
    • #1
    • 14th Mar 07, 10:18 PM
    New Cash ISAs (NISAs): The Best Currently Available List 14th Mar 07 at 10:18 PM
    New Cash ISAs (NISAs): The Best Currently Available List


    **Please note: The list of ISAs I have compiled below is continually updated. New ISAs are added as they launch and withdrawn ISAs will be removed from the list. Updates to the list are made during the evening.**

    The current New Cash ISA (NISA) limit is £20,000 for the 2017/18 tax year.

    **As with any financial product, before opening a NISA do ensure that you have read and understood the terms and conditions.**

    • Variable Rate Cash NISAs for 'new money' only (i.e. they don't accept transfers in):

    • Scottish BS Loyalty Cash ISA - 1.55%
      Rate guarantee? No. Rate effective from: 04/10/2016.
      Minimum deposit: £1. Operated via: Branch or Post.
      Notes: Available to existing customers holding an ISA with the Society before the tax year 2010/11, (1.35% is paid to customers holding an ISA in tax years 2010/11 & 2011/12 and 1.15% for tax years 2012/13 & 2013/14 and 1.05% for 2014/15 & 2015/16).

    • The Melton BS Cash ISA - 1.00%
      Rate guarantee? No. Rate effective from: 01/08/2017.
      Minimum deposit: £25. Operated via: Branch or Post.
      Notes: Available to residents of Leicestershire, Nottinghamshire, Lincolnshire or Rutland or to customers who have been members with the Society for 5 years or more.


      Variable Rate Cash NISAs for 'new money' only requiring notice to be given:

    • Melton Mowbray BS [60 Days' Notice] Cash ISA - 1.30%
      Rate guarantee? No. Rate effective from: 01/05/2016.
      Minimum deposit: £25. Operated via: Branch or Post
      Notes: 60 days' notice of withdrawal required. Available to existing members (of the Society of 5 years or more) and or locals living in Leicestershire, Lincolnshire, Nottinghamshire or Rutland.

    • Hinckley and Rugby BS 120 Day Notice Cash ISA - 1.20%
      Rate guarantee? No. Rate effective from: 20/04/2017.
      Minimum deposit: £500. Operated via: Branch or Post.
      Notes: 120 days' notice of withdrawal required.

    • Earl Shilton BS [90 Days' Notice] Cash ISA - 1.15%
      Rate guarantee? No. Rate effective from: 01/11/2016.
      Minimum deposit: £10. Operated via: Branch or Post.
      Notes: 90 days' notice of withdrawal required.



      Fixed Rate Cash NISAs for 'new money' only (i.e. they don't accept transfers in):


      Variable Rate Cash NISAs that accept transfers in:

    • Ipswich BS Stepping Stone ISA (16-20) - 1.40%
      Rate guarantee? No. Rate effective from: 02/05/2017.
      Minimum deposit: £10. Operated via: Branch or Post.
      Notes: Available to customers aged 16-20 years old and they must be either existing members of the Society or live in the following postcodes (IP, NR, CO, CM, CB and PE only.)

    • Charter Savings Bank Easy Access Cash ISA - 1.02%
      Rate guarantee? No. Rate effective from: 27/07/2017.
      Minimum deposit: £1,000. Operated via: Internet.

    • Post Office Online ISA Easy Access (issue 10) - 1.01%
      Rate guarantee? No. Rate effective from: 13/04/2017.
      Minimum deposit: £100. Operated via: Internet.

    • Ford Money Flexible Cash ISA - 1.00%
      Rate guarantee? No. Rate effective from: 28/04/2017.
      Minimum deposit: £1. Operated via: Internet.
      Notes: You can replace any cash you withdraw from your ISA within the same tax year without it counting towards your annual ISA allowance.

    • Tesco Instant Access Cash ISA - 0.97%
      Rate guarantee? No. Rate effective from: 14/06/2017.
      Minimum deposit: £1. Operated via: Internet or Telephone.

    • AA Easy Access ISA (issue 11) - 0.95%
      Rate guarantee? No. Rate effective from: 19/05/2017.
      Minimum deposit: £1. Operated via: Internet.


      Variable Rate Cash NISAs with withdrawal restrictions & accepting transfers in:

    • Virgin Money Defined Access E-ISA (issue 14) - 1.01%
      Rate guarantee? No. Rate effective from: 13/07/2017.
      Minimum deposit: £1. Operated via: Internet.
      Notes: Up to 3 penalty-free withdrawals permitted per calendar year.

    • Leeds BS Rainy Day ISA (issue 3) - 0.90%
      Rate guarantee? No. Rate effective from: 06/10/2016.
      Minimum deposit: £50,000 (to qualify for the higher rate). Operated via: Branch or Post.
      Notes: Up to 6 penalty-free withdrawals permitted per calendar year.


      Variable Rate Cash NISAs requiring notice to be given & accepting transfers in:

      In order to withdraw from or transfer a notice cash ISA you do need to give the required number of days notice. Failing to do so, usually incurs a loss of interest penalty. If you are choosing a notice ISA please ensure you are able to meet the notice period.

    • Al Rayan Bank 120 Day Notice Cash ISA - 1.20%
      Rate guarantee? No. Rate effective from: 31/05/2017.
      Minimum deposit: £250. Operated via: Branch, Internet, Mobile App, Post or Telephone.
      Notes: 120 days' notice of withdrawal required.

    • Al Rayan Bank 60 Day Notice Cash ISA - 1.00%
      Rate guarantee? No. Rate effective from: 16/03/2017.
      Minimum deposit: £250. Operated via: Branch, Internet, Mobile App, Post or Telephone.
      Notes: 60 days' notice of withdrawal required.

    • National Counties BS 45 Day Notice Cash ISA (issue 5) - 1.00%
      Rate guarantee? No. Rate effective from: 24/05/2017.
      Minimum deposit: £30,000 (to qualify for the higher rate). Operated via: Branch, Internet, Post or Telephone.
      Notes: 45 days' notice of withdrawal required. 0.90% is paid on balances totalling £15,000 - £29,999 and 0.80% on £3,000 - £14,999.
      Available to National Counties customers as at 01/12/2016 only.



      Fixed Rate Cash NISAs that accept transfers in:

      If you are choosing a fixed rate cash ISA - do ensure that you can leave the money untouched until the ISA matures, as making a withdrawal or transferring out before maturity will usually incur a loss of interest penalty.


      1 Year Fixes:

    • Al Rayan Bank 12 Month Fixed Term Deposit Cash ISA - 1.35%
      Minimum deposit: £1,000.
      Notes: Fixed for one year from account opening.

    • Charter Savings Bank Fixed Rate Cash ISA - 1.31%
      Minimum deposit: £1,000.
      Notes: Fixed for one year from account opening.

    • Virgin Money Fixed Rate Cash E-ISA (issue 265) - 1.30%
      Minimum deposit: £1.
      Notes: Fixed until 24/09/2018.

    • Virgin Money Fixed Rate Cash ISA (issue 296) - 1.30%
      Minimum deposit: £1.
      Notes: Fixed until 15/09/2018.

    • Metro Bank Fixed Rate Cash ISA - 1.25%
      Minimum deposit: £1.
      Notes: Fixed for one year from account opening.

    • Paragon Bank Fixed Rate Cash ISA - 1.25%
      Minimum deposit: £500.
      Notes: Fixed for one year from account opening.



      14 Month Fixes:

      N/A


      2 Year Fixes:

    • Al Rayan Bank 24 Month Fixed Term Deposit Cash ISA - 1.70%
      Minimum deposit: £1,000.
      Notes: Fixed for one year from account opening.

    • Charter Savings Bank Fixed Rate Cash ISA - 1.52%
      Minimum deposit: £1,000.
      Notes: Fixed for two years from account opening.

    • Virgin Money Fixed Rate Cash E-ISA (issue 266) - 1.51%
      Minimum deposit: £1.
      Notes: Fixed until 24/09/2019.

    • Virgin Money Fixed Rate Cash ISA (issue 297) - 1.51%
      Minimum deposit: £1.
      Notes: Fixed until 15/09/2019.

    • Birmingham Midshires Fixed Rate ISA - 1.50%
      Minimum deposit: £1.
      Notes: Fixed for two years from account opening.

    • Metro Bank Fixed Rate Cash ISA - 1.40%
      Minimum deposit: £1.
      Notes: Fixed for two years from account opening.

    • Leeds BS Fixed Rate ISA (issue 94) - 1.40%
      Minimum deposit: £100.
      Notes: Fixed until 31/10/2019.

    • Paragon Bank Fixed Rate Cash ISA - 1.40%
      Minimum deposit: £500.
      Notes: Fixed for two years from account opening.

    • Shawbrook Bank Fixed Rate Cash ISA Bond (issue 20) - 1.35%
      Minimum deposit: £5,000.
      Notes: Fixed for two years from account opening.


      3 Year Fixes:

    • Clydesdale Bank Cash ISA Fixed Rate Bond (issue 41) - 2.00%
      Minimum deposit: £2,000.
      Notes: Fixed until 31/07/2020.

    • Yorkshire Bank Cash ISA Fixed Rate Bond (issue 41) - 2.00%
      Minimum deposit: £2,000.
      Notes: Fixed until 31/07/2020.

    • Charter Savings Bank Fixed Rate Cash ISA - 1.65%
      Minimum deposit: £1,000.
      Notes: Fixed for three years from account opening.

    • Virgin Money Fixed Rate Cash E-ISA (issue 267) - 1.65%
      Minimum deposit: £1.
      Notes: Fixed until 24/09/2020.

    • Virgin Money Fixed Rate Cash ISA (issue 298) - 1.65%
      Minimum deposit: £1.
      Notes: Fixed until 15/09/2020.

    • Paragon Bank Fixed Rate Cash ISA - 1.55%
      Minimum deposit: £500.
      Notes: Fixed for three years from account opening.


      4 Year Fixes:

    • United Trust Bank Fixed Rate Cash ISA - 2.00%
      Minimum deposit: £5,000.
      Notes: Fixed for four years from account opening. Transfers in only.

    • Leeds BS Fixed Rate ISA (issue 10) - 1.50%
      Minimum deposit: £100.
      Notes: Fixed until 31/10/2021.

    • Julian Hodge Bank Fixed Rate ISA - 1.40%
      Minimum deposit: £5,000.
      Notes: Fixed for four years from account opening.


      5 Year Fixes:

    • Virgin Money Fixed Rate Cash E-ISA (issue 268) - 2.15%
      Minimum deposit: £1.
      Notes: Fixed until 24/09/2022.

    • Virgin Money Fixed Rate Cash ISA (issue 299) - 2.15%
      Minimum deposit: £1.
      Notes: Fixed until 15/09/2022.

    • United Trust Bank Fixed Rate Cash ISA - 2.15%
      Minimum deposit: £5,000.
      Notes: Fixed for five years from account opening. Transfers in only.

    • Charter Savings Bank Fixed Rate Cash ISA - 2.11%
      Minimum deposit: £1,000.
      Notes: Fixed for five years from account opening.

    • Paragon Bank Fixed Rate Cash ISA - 1.95%
      Minimum deposit: £500.
      Notes: Fixed for five years from account opening.

    • Coventry BS Fixed Rate ISA (issue 49) - 1.80%
      Minimum deposit: £1.
      Notes: Fixed until 30/11/2022.

    • Metro Bank Fixed Rate Cash ISA - 1.75%
      Minimum deposit: £1.
      Notes: Fixed for five years from account opening.

    • Leeds BS Fixed Rate ISA (issue 66) - 1.75%
      Minimum deposit: £100.
      Notes: Fixed until 31/10/2022.

    • United Bank UK Fixed Rate Cash ISA - 1.70%
      Minimum deposit: £2,000.
      Notes: Fixed for five years from account opening.

    • Shawbrook Bank Fixed Rate Cash ISA Bond (issue 7) - 1.70%
      Minimum deposit: £5,000.
      Notes: Fixed for five years from account opening.

    • Nationwide BS Loyalty Fixed Rate ISA - 1.65%
      Minimum deposit: £1.
      Notes: Fixed for five years from account opening date. Available to existing members only (minimum of 1 year's continuous membership).



      Help to Buy ISAs:

      Help to Buy ISAs are open to first time buyers. You can save up to £1,200 in the first month and then up to £200 per month thereafter. If you miss a monthly contribution you don't get penalised though you cannot make it up the next month.

      The Government will contribute a 25% tax-free top-up to the whatever balance is in your ISA at the point when you use it for a deposit. You must have saved at least £1,600 to qualify for the Government top-up and you can only receive a maximum top-up of £3,000 (on your £12,000 balance).

    • Penrith BS Help to Buy: ISA - 3.00%
      Minimum deposit: £1. Min - Max monthly deposit: £0 - £200.
      Operated via: Branch or Post.
      Notes: Open the account with a minimum of £1 up to £1,200 - this must be received within the first calendar month of account funding.
      It is available only available to those living in Cumbria only.

    • Tipton & Coseley BS Help to Buy: ISA - 2.75%
      Minimum deposit: £10. Min - Max monthly deposit: £0 - £200.
      Operated via: Branch or Post.
      Notes: Open the account with a minimum of £10 up to £1,200 - this must be received within the first month of account opening.

    • Darlington BS Help to Buy: ISA - 2.55%
      Minimum deposit: £1. Min - Max monthly deposit: £0 - £200.
      Operated via: Branch Agency or Post.
      Notes: Open the account with a minimum of £1 up to £1,200 - this must be received within the first calendar month of account funding.
      To open this ISA, you must also be living in the Society’s local postcode operating area (DL, DH, SR, TS, YO or HG).

    • Barclays Help to Buy: ISA - 2.27%
      Minimum deposit: £1. Min - Max monthly deposit: £0 - £200.
      Operated via: Branch, Internet, Mobile App or Telephone.
      Notes: Open the account with a minimum of £1 up to £1,200 - this must be received within the first calendar month of account funding.

    • Buckinghamshire BS Help to Buy: ISA (issue 2) - 2.25%
      Minimum deposit: £1. Min - Max monthly deposit: £0 - £200.
      Operated via: Branch or Post.
      Notes: Open the account with a minimum of £1 up to £1,200 - this must be received within the first month of account opening.



      Lifetime ISAs:

      Lifetime ISAs are available to savers aged 18 to 39. They allow up to £4,000 per tax year to be saved up to the age of 50 and they receive a 25% government bonus up to £1,000 per year to help with buying a first home and/or saving for retirement.

    • Skipton BS Cash Lifetime ISA - 0.50%
      Rate guarantee? No. Rate effective from: 08/06/2017.
      Minimum deposit: £1. Operated via: Internet.



      Regular Savings Cash NISAs:


      N/A


    All rates are subject to change without notice. Please check all rates and terms before investing.

    If you can think of an NISA I have missed please do send me a PM.
    Last edited by Kazza242; 09-09-2017 at 6:18 PM. Reason: List updated...
Page 224
    • Froggitt
    • By Froggitt 8th May 17, 1:44 PM
    • 5,787 Posts
    • 3,063 Thanks
    Froggitt
    The thisismoney website is updated daily it seems with the latest rates.
    Originally posted by Space Captain
    Yes most of the decent rates on page one seem to have been pulled.

    http://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html is the link for This is Money ISA rates
    illegitimi non carborundum
    • Zanderman
    • By Zanderman 22nd May 17, 1:03 PM
    • 1,247 Posts
    • 3,642 Thanks
    Zanderman
    Ford Money launched their Reg Saver ISA today - a whopping 4% but, sadly, only on a max £250 per month so only £3k per year.

    https://www.fordmoney.co.uk/savings-products/regular-saver-cash-isa

    Rest of ISA allowance can still be used within a Ford Money ISA wrapper but their other ISA rates are lower.

    But an interesting variation on the norm and worth doing for people with only £3k ofrless to invest in an ISA.

    (Kazza242 I tried to send you a PM but your mailbox is full)

    Edited to add: Ford withdrew this ISA within 48 hours of opening it - oversubscribed apparently...
    Last edited by Zanderman; 25-05-2017 at 9:43 AM. Reason: Added update
    • Rich2808
    • By Rich2808 22nd May 17, 9:24 PM
    • 486 Posts
    • 391 Thanks
    Rich2808
    Ford Money launched their Reg Saver ISA today - a whopping 4% but, sadly, only on a max £250 per month so only £3k per year.

    https://www.fordmoney.co.uk/savings-products/regular-saver-cash-isa

    Rest of ISA allowance can still be used within a Ford Money ISA wrapper but their other ISA rates are lower.

    But an interesting variation on the norm and worth doing for people with only £3k ofrless to invest in an ISA.

    (Kazza242 I tried to send you a PM but your mailbox is full)
    Originally posted by Zanderman
    They also have a flexible instant access isa paying 0.9% and both that and the regular saver can be funded by isa transfers.

    So you can use prior year isa funds to fund both. They are also a split isa provider too.
    • adindas
    • By adindas 25th May 17, 9:42 AM
    • 3,273 Posts
    • 1,593 Thanks
    adindas
    I wonder what answer to put when answering the question with ford money flexible ISA:

    1. "Have you already opened an ISA with another provider in this tax year?" N/Y

    My only this tax year 2017/18 subscription is with Ford money in RS ISA which is the same provider but different product compared to Flexible ISA.

    My understanding the answer to Q1 should be : No.

    But the problem here if you answer No, I will not be able to transfer in my previous ISA subscription with Nationwide or at least I have not found it. I believe this Flexible is mainly intended for previous tax year ISA subscription. Noone senible will be put this new money into flwxib;e ISA where they have a chance to put it in FOrd RS ISA.

    If the answer to Q" is Y which is not correct as I am already having a REgular saver with Ford money RS ISA I will be able to transfer the previous ISA subscription from previous year with Nationwide. Here is the exact wording:

    "As you indicated you've already opened an ISA with another provider in the current tax year you will

    only be able to open this ISA by transferring your current year’s ISA subscription, in full, as an opening

    balance.

    If you like, you can also transfer other ISA holdings you have opened in previous tax years as part of

    your opening balance.

    Please indicate below the type of ISA holdings you wish to transfer to us:

    Cash ISA holdings only

    Stocks & Shares ISA holdings only

    A combination of Cash and Stocks & Shares ISA holdings"


    What do you think the proper answer to this ??
    • bowlhead99
    • By bowlhead99 25th May 17, 10:30 AM
    • 6,740 Posts
    • 12,013 Thanks
    bowlhead99
    If you haven't opened an ISA with another provider this tax year... which you say you haven't...then clearly the answer to "Have you already opened an ISA with another provider in this tax year?" is "No I haven't."

    If you HAD opened a cash ISA with another provider this year then they would have to tell you that you must complete a transfer out from that provider to continue, because you can't have two current year cash ISAs with two different providers, and it would be impossible to proceed without doing that transfer.

    However if you don't have any other current year cash ISAs then they don't need to offer you a transfer option just to continue with the opening process. Assuming they offer a transfer option for prior year money, they can do it at a different stage of the process.

    I believe this Flexible is mainly intended for previous tax year ISA subscription. Noone senible will be put this new money into flwxib;e ISA where they have a chance to put it in FOrd RS ISA.
    The ISA limit is £20k. The Ford RS ISA, currently withdrawn from sale after high demand, was a maximum of £250 now and £2500 over the remaining ten months of the tax year, leaving £17250 current year allowance unused, and is a product with an early exit penalty.

    So, it doesn't make sense to say nobody sensible would use Ford Flexible when they could use Ford RS. You can use Ford Flexible for the vast majority of your allowance' and the RS on only a small proportion of your allowance over a long period of time with restrictions on how you fund and access it.
    Last edited by bowlhead99; 25-05-2017 at 10:38 AM. Reason: Added second half of post
    • adindas
    • By adindas 25th May 17, 10:49 AM
    • 3,273 Posts
    • 1,593 Thanks
    adindas

    The ISA limit is £20k. The Ford RS ISA, currently withdrawn from sale after high demand, was a maximum of £250 now and £2500 over the remaining ten months of the tax year, leaving £17250 current year allowance unused, and is a product with an early exit penalty.

    So, it doesn't make sense to say nobody sensible would use Ford Flexible when they could use Ford RS. You can use Ford Flexible for the vast majority of your allowance' and the RS on only a small proportion of your allowance over a long period of time with restrictions on how you fund and access it.
    Originally posted by bowlhead99
    Well people who managed to open it it yesterday have multiple accounts. I myself have seven of them all of them are already funded with £250 and will be enough to fill in the current tax-year subscription.

    My intention to open a fliexi ISA is actually because of their flexibility feature as a temporary container while keeping its ISA status for in and out at the same tax year. But I will explore the possibility to just fund it with £1 new money leaving it just 19.999 to be put into RS ISA.
    Last edited by adindas; 25-05-2017 at 10:58 AM.
    • Neil Jones
    • By Neil Jones 5th Jun 17, 4:43 PM
    • 821 Posts
    • 451 Thanks
    Neil Jones
    I notice poking around on Virgin Money's site they seem to have withdrawn all the fixed rate ISAs except the 1yr (at 1.11%) and the 5yr (at 1.75%).
    • ANGLICANPAT
    • By ANGLICANPAT 8th Jun 17, 11:10 PM
    • 1,128 Posts
    • 364 Thanks
    ANGLICANPAT
    Coventry's Issue 5 is gone as is Nationwide's 5yr fix.
    • isasmurf
    • By isasmurf 9th Jun 17, 7:42 AM
    • 1,718 Posts
    • 738 Thanks
    isasmurf
    I notice poking around on Virgin Money's site they seem to have withdrawn all the fixed rate ISAs except the 1yr (at 1.11%) and the 5yr (at 1.75%).
    Originally posted by Neil Jones
    I think Virgin have a policy to offer the same rate for ISA and non ISA accounts. They've recently significantly increased their 2 year rate to 1.61%. This is significantly better than any 2 year ISA currently available, so they probably decided it was not in their commercial interest to offer it as an ISA.
    • Kazza242
    • By Kazza242 13th Jun 17, 10:45 PM
    • 1,891 Posts
    • 2,438 Thanks
    Kazza242
    First post updated...
    Hello,

    I have been making some updates to the first post over the last week.

    There have been many changes with some ISAs only being available for 24 to 72 hours, in some cases.

    The Skipton BS Lifetime ISA has also been added to the list.
    Please call me 'Kazza'.
    • isasmurf
    • By isasmurf 14th Jun 17, 8:29 PM
    • 1,718 Posts
    • 738 Thanks
    isasmurf
    Charter Savings have today added cash ISAs to their range of accounts.
    The instant access is the leading cash ISA at 1.06% but requires a minimum of £1,000.
    The 1 Year fix also tops the table at 1.16% (a long way off the 1.70% for a 1 year fix outside an ISA elsewhere)
    The 2 and 3 year fixes can be beaten.

    Their ISAs are, what they are calling, 'mix and match' so you can spread your allowance across their range. However, they are not flexible ISAs.
    • veryintrigued
    • By veryintrigued 21st Jul 17, 1:55 PM
    • 2,043 Posts
    • 1,288 Thanks
    veryintrigued
    Notts 2.25 Regular saver has now been pulled Kazza.
    • patientperson
    • By patientperson 22nd Jul 17, 5:12 AM
    • 430 Posts
    • 352 Thanks
    patientperson
    Paragon Bank
    Update: 5 year FR ISA is now 1.95%

    http://www.paragonbank.co.uk/savings/cash-isas/five-year-fixed-cash-isa
    • gwapenut
    • By gwapenut 2nd Aug 17, 11:42 AM
    • 908 Posts
    • 375 Thanks
    gwapenut
    Virgin Money are now offering 5 years @ 2% with just 180-day penalty
    • 6022tivo
    • By 6022tivo 2nd Aug 17, 12:16 PM
    • 516 Posts
    • 125 Thanks
    6022tivo
    I'm being a little simple here.

    I currently have two large isas that are instant access at 0.75%

    If I transfer in to Virgin at 2% as long as I leave them for at least 12 months, I'm making a better decision?
    EG, if I need the money at 12 months (unlikely) but I will lose 6 months interest, but it would be the equivalent of 1% I suppose over that year??

    Keeping it in over the year just makes this 1% increase over time?
    Does this make sense??


    Using this logic of accepting the penalty, are there better 5yr 180 days penalty accounts?
    • mhoc
    • By mhoc 2nd Aug 17, 12:34 PM
    • 16,785 Posts
    • 194,898 Thanks
    mhoc
    I am facing a similar dilemma as my 4 year ISA is maturing this year - its earning 2.4%, I was very late to the ISA game.

    I am going to open a Nationwide flexclusive ISA which is has a miserable 0.75% but at least I can add and withdraw whenever I need money.
    Each month I am going to withdraw enough to feed my collection of regular monthly savings accounts - these pay between 1.7% and 5%
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • Consumerist
    • By Consumerist 2nd Aug 17, 12:55 PM
    • 4,648 Posts
    • 2,309 Thanks
    Consumerist
    . . . Keeping it in over the year just makes this 1% increase over time?
    Does this make sense?? . . .
    Originally posted by 6022tivo
    Perfect sense.

    Edit
    It is unlikely, though possible, that interest rates will not stay this low for the next five years so you can do the same estimates for 2yrs, 3yrs, .. etc so you can pick the best time to jump when/if rates improve over time.
    Last edited by Consumerist; 02-08-2017 at 12:59 PM.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • rivergold
    • By rivergold 7th Aug 17, 10:38 AM
    • 27 Posts
    • 4 Thanks
    rivergold
    I'm being a little simple here.

    I currently have two large isas that are instant access at 0.75%

    If I transfer in to Virgin at 2% as long as I leave them for at least 12 months, I'm making a better decision?
    EG, if I need the money at 12 months (unlikely) but I will lose 6 months interest, but it would be the equivalent of 1% I suppose over that year??

    Keeping it in over the year just makes this 1% increase over time?
    Does this make sense??


    Using this logic of accepting the penalty, are there better 5yr 180 days penalty accounts?
    Originally posted by 6022tivo
    Yes this is correct. If you withdraw after a year, you're quids in versus most of the "instant access" options, at a net amount of 1% after penalty. After 2 years, it gives you an average of 1.5% per year.
    • 6022tivo
    • By 6022tivo 7th Aug 17, 11:30 AM
    • 516 Posts
    • 125 Thanks
    6022tivo
    Yes this is correct. If you withdraw after a year, you're quids in versus most of the "instant access" options, at a net amount of 1% after penalty. After 2 years, it gives you an average of 1.5% per year.
    Originally posted by rivergold
    I've taken this up and transferred two of my large 0.7 and 0.75 instants in.
    Very simple process using the transfer service, money already in the account after 2 working days.
    • Heinz
    • By Heinz 10th Aug 17, 4:47 PM
    • 11,035 Posts
    • 4,449 Thanks
    Heinz
    I think the 2 year Charter Savings Bank Fixed Rate Cash ISA - 1.41%
    Minimum deposit: £1,000.
    Notes: Fixed for two years from account opening might have been withdrawn - only the 3 year (1.50%) version appears on their website now AFAICS.
    Time has moved on (much quicker than it used to - or so it seems at my age) and my previous advice on residential telephony has been or is now gradually being overtaken by changes in the retail market. Hence, I have now deleted links to my previous 'pearls of wisdom'. I sincerely hope they helped save some of you money.
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