Where's best?

Sunshine_and_Roses

I have just found out that my ISA with A&L is a rubbish 2.1%, and this is making me have a long look at my finances.

I have £12000 in my ISA which I am now looking to move into another one, preferably with internet access but not essential.

I have approx £12000 in ICICI hi-save account (think this is 4.51% but not sure now). This is my 'stooze pot', and £10000 of this is ready to pay off the 0% cards (currently due to end June 2009), so approx £2000 is all mine.

I also have £5000 in my A&L savings account which I think is now about 1%. I have a lot of home improvements to do, so was going to use this money, hopefully though I will get 0% credit cards and just pay off minimum payments.

I am a bit reluctant to put more money into the ICICI account due to the current climate, and think that I may be safer with a UK based ISA.

I have looked at the best buys, and think that perhaps the Birmingham Midshires is best for the ISA, not sure about any savings.

What do you experts think?

Sunshine_and_Roses

Sorry to bump my own thread, but wondering if anyone had any ideas on this. Thanks.

Special_Saver2

Hi clareski,

For the ISA, the Birmingham Midshires account seems the best bet if you want a variable rate. If you can afford to fix for a year or two then you would probably be better off doing that as interest rates keep heading down at the moment. Check out this excellent thread by Kazza242 with more details.

For the non-ISA money, check out Martin's Savings Account page - there are plenty of good accounts with lots of useful comments on each of them. You will need to ignore the Anglo-Irish account though - the issue 2 account which Martin is referring to is no longer available and the issue 3 account is only paying 2.50% AER.

You might also want to check out my Regular Savings thread - you might find something there to interest you.

Hopefully you will find something from the above links useful!

SS2

Special_Saver2

Hi clareski,

If you have a look at page 54 of Kazza's ISA thread, you will see an interesting discussion about variable rate ISA interest rates dropping. If you cannot go for a fixed rate ISA then you might want to have a look at that discussion.

SS2

fimonkey

on the other side, what are the best fixed rate ISA's at the moment? Also, I have 10K in an A&L ISA with same rubbish interest rate. Can I transfer half of it to a fixed rate ISA and leave rest, or transfer it to another instant access ISA incase I need to get at it? (uncomfortable about locking ALL of it away for a fixed period).

Thanks in advance