What is the best ISA to transferr to?

trinidadone

Hello all. I currently have 6K in a Newcastle building society. The account matures in oin October 2008. It currently pays 6.1%. I am going to wait to see what the building society offers me, but wanted to know what the best ISA accounts are currently available, which allows transferrs. Anyone know?

I have used all of this years allowance, and also heard the Post Office is offering 6.25% for a ISA, and will accept transferrs. is this the best rate?

Please let me know, thanks in advance

Baldur

Suggest that you read through this post & check out Moneyfacts.

Milarky

First Direct ISA (you don't need to be a bank customer but it will streamline the application) is offering '6.125%' (c.6.30 'AER') fixed until 15 June 2009. It's only for 8 1/2 months of course and you may prefer to fix for a longer period of at least a year as interest rates are expected to drop. However 'good' variable rates should be possible at any time just by looking around sufficiently.

[Remember ISA providers rely on interia to make their customers lazy...]

It's worth mentioning that you can always apply for a transfer to another ISA provider before a fixed rate matures - and simply give 'notice' for the date of transfer to be the maturity date or soon after. This should ensure that ISA transfers can go straight from one fixed rate to another - which is the ideal option

trinidadone

Hey milarky, cheers for your response, was a little confused with 6.12 and 6.30 which is the rate?

I did not know you could "give notice" cheers for that, i will check out first direct, cheers

Milarky wrote: »

First Direct ISA (you don't need to be a bank customer but it will streamline the application) is offering '6.125%' (c.6.30 'AER') fixed until 15 June 2009. It's only for 8 1/2 months of course and you may prefer to fix for a longer period of at least a year as interest rates are expected to drop. However 'good' variable rates should be possible at any time just by looking around sufficiently.

[Remember ISA providers rely on interia to make their customers lazy...]

It's worth mentioning that you can always apply for a transfer to another ISA provider before a fixed rate matures - and simply give 'notice' for the date of transfer to be the maturity date or soon after. This should ensure that ISA transfers can go straight from one fixed rate to another - which is the ideal option

Cannon_Fodder

Just had my letter from Newcastle BS, they are offering to automatically switch my maturing Fixed Rate Options ISA (Issue 6) funds into a Maturity ISA (Issue 2), at 6.25%, with 60-days notice, fixed until 20/01/2010...

Seems pretty good. The only ISA substantially better is Natwest's tiered offering, but with the banking situation at the moment, I'm hesitant about going for an RBS Group Bank, so Newcastle may be the place to leave the money?

Baldur

That might be amusing to you but not to the many posters who have their ISA savings with Icesave.

erdie

Baldur, I have got (had) an icesave account and I found it mildly amusing.

Baldur

More amusing 22 days after the initial posting maybe?