The Best Mini Cash ISA Article Discussion Area

Angel49_2

If A&L's Current Account is paying 6.1% how does this compare to its Cash Isa which they have reduced recently? Is it still better to have cash in the Isa or not? Help!

pktech

I'm interested in getting a NS&I Direct ISA but it looks like you need a debit card (I don't have one). Is this correct as it wasn't mentioned in the article?

Would I be best getting a debit card and going for the NS&I Direct ISA or going for Yorkshire BS's e-ISA?

I was planning on applying for a cash back credit card so didn't think I'd need a debit card for anything. Would applying for a debit card just before the ISA or other financial products be a bad idea because of credit scoring?

hazelize_uk

I do not currently do any saving as we are hammering away at our mortgage which I hope to clear by October 2008. The plan then will be to save at least £1,000 per month. I've been reading away at all the ISA info until my eyes are on stalks and will be looking to take out 2 (one for myself and the other for OH) which we can put £250 a month each in making £6,000 pa - BUT! what will be the best option for the other £6k a year will it just be a high interest savings account?? not too worried if its tied in at all as its more as a kind of pension/getting kids on property ladder later down the line. getting really confused with TESSA/TOISA/ISA they all are giving me a HEADACHA!!

rangers_fc

hazelize_uk wrote:

I do not currently do any saving as we are hammering away at our mortgage which I hope to clear by October 2008. The plan then will be to save at least £1,000 per month. I've been reading away at all the ISA info until my eyes are on stalks and will be looking to take out 2 (one for myself and the other for OH) which we can put £250 a month each in making £6,000 pa - BUT! what will be the best option for the other £6k a year will it just be a high interest savings account?? not too worried if its tied in at all as its more as a kind of pension/getting kids on property ladder later down the line. getting really confused with TESSA/TOISA/ISA they all are giving me a HEADACHA!!

If you dont want to go down the share avenue I would think the best option would be to transfer the other £6000 into a high interest current account, then drip feed several regular savings account from the current accout, However with a stash of £6000 per year Im sure a share type investment may well be worth considering.

hazelize_uk

Thank you rangers fc the only problem is im a bit of a pansy and not a big risk taker, I'm not sure where i'd start with shares wouldnt i need to get a financial advisor to sort it all out?

pktech

I've just noticed something odd in the terms for Yorkshire BS's e-ISA.

Pence of interest

Once in each year where the interest payable to you or credited to your account is not an exact multiple of £1, we will pay from the account an amount (which will not exceed 99p) equal to the pence of interest to the Yorkshire Building Society Charitable Foundation to be used for charitable purposes, unless you (or any one of you if there is more than one account holder) tell us not to.

If I want to donate to charity I will but I don't like having to opt out of the bank or building society giving my money away.

webdeepak

Bradford and bingley eISA has been has had one of the best eISA rate for almost an year. But I have never seen it on MSE. You need all £3000 to open it but lets you transfer other ISA as well. The rate on 14 Feb 2007 is 5.55% best if you want to transfer ISA's as well.

I just looked at Alliance and leicester it has a 7% ISA but you need to have some Current account with it as well. I'm not a fan of such dual accounts unless I need all of the and all of them are the best accounts.

Nicky_P_2

Yorkshire Building Society has 5.65% AER on their ISA and you can transfer in from existing ISAs. Do people think it would be worth waiting around for a few more weeks in case any better deals come out before the new tax year?

Thanks for your advice! :rotfl:

debtworrier

pktech wrote:

I've just noticed something odd in the terms for Yorkshire BS's e-ISA.



If I want to donate to charity I will but I don't like having to opt out of the bank or building society giving my money away.

I believe other BS and banks simply round down to the nearest £ and keep the oddments.

EllisMoore

Just noticed Alliance and Leicester are offering a Cash ISA at 7% variable (guaranteed 1% above base rate 'till end April 2008). Seems pretty good if you're happy transferring to whichever other deal is best next year.

http://www.alliance-leicester.co.uk/savings/index.asp?page=prem-isa&ct=savingshome