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  • FIRST POST
    • mn2203
    • By mn2203 26th Nov 17, 5:40 PM
    • 29Posts
    • 1Thanks
    mn2203
    Transfer ISA or use fixed rate bond
    • #1
    • 26th Nov 17, 5:40 PM
    Transfer ISA or use fixed rate bond 26th Nov 17 at 5:40 PM
    Hi

    I have £7500 in an ISA earning 0.5%, the best ISA is 1.1%, but fixed bonds are 1.3% easy access savings.

    I have a regular saver with my bank earning 5% which I can't access the cash until April. Would I be better off opening another current account/ linked 5% with another bank and siphoning the ISA money in to that £300 per month? Giving me a higher interest on some of the cash, but easy access to the lump sum should I need it.

    Thanks
Page 1
    • Neil Jones
    • By Neil Jones 26th Nov 17, 6:39 PM
    • 1,019 Posts
    • 561 Thanks
    Neil Jones
    • #2
    • 26th Nov 17, 6:39 PM
    • #2
    • 26th Nov 17, 6:39 PM
    Personally I'd dump the ISA and shift it to the 1.3% easy access account if nothing else.

    If credit allows, I'd open something like the Nationwide account which pays 5% on the first £2,500 and then the linked 5% regular saver at I think £250 a month, then just shift money between what you have now and this one to satisfy the T&Cs, filling up the new regular saver as you go.
    • badger09
    • By badger09 27th Nov 17, 11:11 AM
    • 5,588 Posts
    • 4,896 Thanks
    badger09
    • #3
    • 27th Nov 17, 11:11 AM
    • #3
    • 27th Nov 17, 11:11 AM
    Hi

    I have £7500 in an ISA earning 0.5%, the best ISA is 1.1%, but fixed bonds are 1.3% easy access savings.

    I have a regular saver with my bank earning 5% which I can't access the cash until April. Would I be better off opening another current account/ linked 5% with another bank and siphoning the ISA money in to that £300 per month? Giving me a higher interest on some of the cash, but easy access to the lump sum should I need it.

    Thanks
    Originally posted by mn2203

    Could you explain? Fixed bonds are not usually, by definition, instant access.

    However, there are 1.3% instant access accounts available, so maybe you don't need to bother explaining

    As Neil Jones suggested, look at Nationwide and other banks with regular savers @ 5%.
    I'm a supporter of dunstonh
    • cloud_dog
    • By cloud_dog 27th Nov 17, 12:05 PM
    • 3,309 Posts
    • 1,866 Thanks
    cloud_dog
    • #4
    • 27th Nov 17, 12:05 PM
    • #4
    • 27th Nov 17, 12:05 PM
    I have been/am going through a similar process with my mothers cash savings, as the vast majority is in ISA's (fixed and instant access).

    We are simply replicating the fixed/instant ratio outside of the ISA as the rates are soooo very much better.

    We're not talking mega bucks here and if the situation regarding ISA rates were to significantly improve it wouldn't take too many years to get them back in to the tax shelter.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • cloud_dog
    • By cloud_dog 27th Nov 17, 12:26 PM
    • 3,309 Posts
    • 1,866 Thanks
    cloud_dog
    • #5
    • 27th Nov 17, 12:26 PM
    • #5
    • 27th Nov 17, 12:26 PM
    Oh dear....I feel someone building up their posting history.... I wonder what comes next ?
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • badger09
    • By badger09 27th Nov 17, 2:37 PM
    • 5,588 Posts
    • 4,896 Thanks
    badger09
    • #6
    • 27th Nov 17, 2:37 PM
    • #6
    • 27th Nov 17, 2:37 PM
    Oh dear....I feel someone building up their posting history.... I wonder what comes next ?
    Originally posted by cloud_dog
    Yup

    on at least 5 different threads. My finger is busy
    I'm a supporter of dunstonh
    • badger09
    • By badger09 27th Nov 17, 2:38 PM
    • 5,588 Posts
    • 4,896 Thanks
    badger09
    • #7
    • 27th Nov 17, 2:38 PM
    • #7
    • 27th Nov 17, 2:38 PM
    Yup

    on at least 5 different threads. My finger is busy
    Originally posted by badger09
    just noticed siravikitchen PPRd. My finger can rest easy
    I'm a supporter of dunstonh
    • mn2203
    • By mn2203 27th Nov 17, 7:50 PM
    • 29 Posts
    • 1 Thanks
    mn2203
    • #8
    • 27th Nov 17, 7:50 PM
    • #8
    • 27th Nov 17, 7:50 PM
    Could you explain? Fixed bonds are not usually, by definition, instant access.

    However, there are 1.3% instant access accounts available, so maybe you don't need to bother explaining

    As Neil Jones suggested, look at Nationwide and other banks with regular savers @ 5%.
    Originally posted by badger09
    Yes sorry I refreshed my research and meant easy access not fixed rate bonds.

    Will do thanks, think there was a doubt whether or not to close the isa.
    • mn2203
    • By mn2203 27th Nov 17, 7:51 PM
    • 29 Posts
    • 1 Thanks
    mn2203
    • #9
    • 27th Nov 17, 7:51 PM
    • #9
    • 27th Nov 17, 7:51 PM
    Oh dear....I feel someone building up their posting history.... I wonder what comes next ?
    Originally posted by cloud_dog
    Is this to me? Sorry if this has been posted on here before, but not by me.
    • jimjames
    • By jimjames 27th Nov 17, 8:23 PM
    • 12,240 Posts
    • 10,778 Thanks
    jimjames
    Is this to me? Sorry if this has been posted on here before, but not by me.
    Originally posted by mn2203
    No, someone else posted spam which has now been deleted
    Remember the saying: if it looks too good to be true it almost certainly is.
    • mn2203
    • By mn2203 29th Nov 17, 1:44 PM
    • 29 Posts
    • 1 Thanks
    mn2203
    No, someone else posted spam which has now been deleted
    Originally posted by jimjames
    Thanks - was thinking I'd done something wrong! :-)
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