Cash ISA - transfer in

GM2008

Hi All

I'm looking to transfer around £10k into a new cash isa. I'm currently getting 5% but I can see that other providers offer around 6%. I'd prefer instant access and money has to be safe. I'd also like to keep it in the same account for a couple of years so I don't expect to be switching each year. I plan to add a few hundred pounds into the account every couple of months.

Can anyone recommend the best ISA to go for in my situation?

Thanks

Milarky

If you want access I'd ask what for? To transfer it elsewhere? If you are not happy with the idea of all your ISA cash being tied up in the same account (and I share that opinion) then compromise. Split off (say) 3000 into a good no-notice account like (top of my head) Kent Reliance. Then transfer the remainder of your pot into the very best 12 months rate (say, Skiption if it's around long enough) That would give you a mixed rate of 0.3 x 5.76% + 0.7x 6.50% = 6.28% - including access to some of the money.

Also, you could then use the KR type of account to top up throughout the year.

After 12 months look for another (fixed rate?) home for your 7000 + interest...

After a few years, you'll have quite a bit in the no notice account too - and may consider splitting this also to have another (higher) fixed rate plus an ongoing - with access - pot of ISA money.

GM2008

Thanks Milarky, well worth thinking about. The reason i'd prefer instant access (or a months notice) is because this money will likely be used towards a deposit for a flat. Unlikely to be needed for a couple of years but would quite like the option.