Best ISA?

snowball1_2

Hi guys, which is the best Cash Isa to go for at the moment, interest wise?

Just been looking at A&L Cash Isa which looks ok...

Any thoughts?

Baldur

Depends which is best for you - fixed rate/variable rate? Check out the links below & take your pick:

http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

http://www.moneyfacts.co.uk/savings/bestbuys/mini-cash-isa.aspx

http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rates-isa.aspx

snowball1_2

I want to open somthing up that I can put £15 a month in for my son for maybe 10 years...

Think it would be best for it to be a fixed/guaranteed account as dont want the risk, can anyone recommend something?

Baldur

snowball1 wrote: »

I want to open somthing up that I can put £15 a month in for my son for maybe 10 years...

Think it would be best for it to be a fixed/guaranteed account as dont want the risk, can anyone recommend something?

You are unlikely to find a fixed-rate account which accepts monthly subscriptions & most of those with a rate guarantee tend to only do so for relatively short periods of time, certainly not 10 years - the fact is that, with Cash ISAs, you have to be prepared to seek out the best rates every year or so.

The links which I posted show the currently available best rates and guarantees, if you care to read through them.

snowball1_2

Baldur wrote: »

You are unlikely to find a fixed-rate account which accepts monthly subscriptions & most of those with a rate guarantee tend to only do so for relatively short periods of time, certainly not 10 years - the fact is that, with Cash ISAs, you have to be prepared to seek out the best rates every year or so.

The links which I posted show the currently available best rates and guarantees, if you care to read through them.

Ok many thanks for the info there, will read them on my break (in work and on the net, without them knowing )

Would it be best do you think just to open up a regular savings account then? dont really want to have to keep an eye on it lol

Baldur

snowball1 wrote: »

Ok many thanks for the info there, will read them on my break (in work and on the net, without them knowing )

Would it be best do you think just to open up a regular savings account then? dont really want to have to keep an eye on it lol

Regular savings accounts tend to be short term as well and, you guessed it, you have to keep an eye on them too...

They are also subject to taxation on interest, so you would need to complete a tax exemption form for your son (assuming that he is not a taxpayer) in order to be paid the gross interest.

isofa

If you haven't already got a cash ISA, just get an Instant Access one, and then you can pay in amounts when you like - and if the rate dips really badly, shift to another provider with a better rate. At least the interest will be tax free.

snowball1_2

isofa wrote: »

If you haven't already got a cash ISA, just get an Instant Access one, and then you can pay in amounts when you like - and if the rate dips really badly, shift to another provider with a better rate. At least the interest will be tax free.

Good call, will check it out, thanks.