Highest Interest Rate ISA

marka87uk

I'm 18 and wanting to open an ISA just so I can build up some savings with a high interest rate!

I'm currently with Natwest for my savings account, but their ISA interest rate is 4.6% which seems a little low to me?

Any advice on high interest rate ISA's?

YorkshireBoy

Halifax
Bank of Scotland
Bradford & Bingley
Kent Reliance
Yorkshire Building Society
Beverley Building Society

http://www.moneyfacts.co.uk/savings/search/savingsearch.asp?investment=1000&monthlyInterest=0&noticedays=30&instantAccess=1&noFixedTerm=0&age=0&accounttype=3&next.x=19&next.y=7

marka87uk

Thanks, so is Halifax possibly one of the best to go for ?

mr_fishbulb

Hope so - I've just signed up for one. Make sure to ask for the ISA Saver Direct becuase they do a non-direct one too but for less interest.

al_yrpal

I have been with Kent Reliance for some years, they have been consistently highest or very high on the list. They are not a big faceless organisation and you can speak to 'people', not call centre operatives.

pagan705

I have a normal savings account, If I was to open a Halifax ISA before April 2006 and transferred my money would I recieve the full 5% yearly interest or would I only get a portion of it (ie. the 5% divided by the several months I'd actually had the money in the account)?

jimclark1967

pagan705 wrote:

I have a normal savings account, If I was to open a Halifax ISA before April 2006 and transferred my money would I recieve the full 5% yearly interest or would I only get a portion of it (ie. the 5% divided by the several months I'd actually had the money in the account)?

The only difference between ISA interest and "normal" interest is that it's tax free for everyone. Sadly it's still pro-rata with the amount of time the money is in there :xmassmile

JC

deemy2004

pagan705 wrote:

I have a normal savings account, If I was to open a Halifax ISA before April 2006 and transferred my money would I recieve the full 5% yearly interest or would I only get a portion of it (ie. the 5% divided by the several months I'd actually had the money in the account)?

Interest is calculated on a daily basis, so your interest would 5% / 365 X number of days money on account.