Good ISA vs tempting ISA

rundmc-k

Hi, I currently have an ISA for myself with 5000 in it and my wife has one with 3000 in it. They are both with Icesave, earning 6.1% interest. My question is, is it worth my while moving our savings from this high rate ISA to 2 new Natwest ISAs for 6.67% or whatever it is for a year, or is it not worth the hassle? Also, if i did do that and the year of high interest with the Natwest ends, can I easily move the entire ISAs back into the then highest ISA saver, be it Icesave or something else? Thanks! David

Reaper

Only you can say whether it is worth it, but personaly I wouldn't bother. Based on those figures your £5000 would earn an extra £28.50 and rather less for your wife's ISA.

Also you may lose out on interest for a few days while the money is in transit, though not always. It depends on the policies of the banks.

In answer to your other question - yes you can move it out again in a years time. Even return it to Icesave if you want.