Where to put my Icesave ISA.

roadrunner46

I've been looking for somewhere to put my Icesave ISA, with rates likely to drop further I'm wondering whether in my case it's worth even keeping an ISA going. At the end of October I opened an account with Coventry BS paying a rate of 6.25% fixed for 12 months, with this account paying 5% after tax, I would find it hard to find an ISA that would be paying 5% into next year. I suppose the only advantage in keeping an ISA would be when rates eventually go up again, I would have a sizeable sum and I would not have to start again. What would you do, move the ISA to a new provider, or put the cash in my Coventry BS account?

Baldur

It depends whether you are looking at the short or long term - people who have had Cash ISAs since they started (and the previous TESSA) probably have around £50,000 of Cash ISA savings currently earning tax-free interest.

roadrunner46

Baldur wrote: »

It depends whether you are looking at the short or long term - people who have had Cash ISAs since they started (and the previous TESSA) probably have around £50,000 of Cash ISA savings currently earning tax-free interest.

This is something I have been thinking about, at the age of 62years... how long is the long term...:whistle:

Baldur

roadrunner46 wrote: »

This is something I have been thinking about, at the age of 62years... how long is the long term...:whistle:

How long is a piece of string?

There are currently fixed-rate Cash ISAs which will beat the after tax rate of your Coventry account - e.g. http://www.halifax.co.uk/isas/fixedrateisa.asp