Nest Years Isa

adminannie

Hi I have monies in Barclays and the Yorkshire Building society, my quiery is should I look somewhere else to put money in an ISA.

I have
£6000 in the yorkshire ISA
£3000 in a three year bond in the Yorkshire
£6500 in a savings account in the Yorkshire

I have £9000 in a Barclays e-savings
a £250 a month savings plan with Barclays.
my wages and pension go into Barclays approx £1000

I am about to receive my pension that I havent been able to claim as I didnt retire when I was 60, but as of 6th April i will be able to claim

I will be receiving approx £8000 lump sum and I dont know if I should carry on with the yorkshire and put in £3000 or go somewhere else.

I often read about sharing the money around but my money is not in the big league(yet).
Another question is what would anyone advise that I do with the other £5000 that will be left from the £8000.

I hope I have made everything understandable any help will be appreciated Annie

Debt_Free_Chick

adminannie wrote:

I will be receiving approx £8000 lump sum and I dont know if I should carry on with the yorkshire and put in £3000 or go somewhere else.

What interest will YBS pay? According to their website they have a number of different ISA accounts, which seem to pay around 4.9%. Not too bad, but you can get 5.2% with Alliance & Leicester. Now... that includes a 0.70% bonus, guaranteed until 30.4.2007, but the underlying rate can change. So, if the underlying rate reduces, you'll get less than 5.2% but you'll still get an extra 0.70% for the next tax year.

Another question is what would anyone advise that I do with the other £5000 that will be left from the £8000.

I hope I have made everything understandable any help will be appreciated Annie

Check out Martin's Best Buys

You might also want to check the rates that your other savings accounts are paying and see if you would do better to move them.

HTH

adminannie

Hi Deb-free-chick, Thank you for taking the time to reply, I must admit to likeing my monies in the same place, but that doesnt seem to be the correct way of looking after the money. I wonder if by moving monies around in fact looses interest in the end. Thanks again Annie

ManAtHome

You shouldn't lose much interest - probably around a week, less than £3 on a £3000 ISA (just shave 0.10% off the rate) unless your current provider charges a 'transfer fee' (will be in the small print). Personally I wouldn't move for less than half a percent, but some do.

Plenty of savings accounts around paying 4.5% or over (Cahoot, ING online) but top rates tend to change every other month. You pay tax on this, but still worth around £180 a year for your extra £5k

edda

Suggest you check your Yorkshire interest rates carefully - some of them went down on 5th March. One of their ISAs has a bonus for the 1st 2 years only as well.

If you do move any ISA accounts, check the dates difference between when they received your money and when they opened your account. If it's significant, ask them to backdate the opening of your account (it happened to me and I got it backdated).

alkip

I have £5k from a matured investment, 3k of which I'm throwing at an ISA on 6th April and the other £2k I want to put in a savings account and am considering ICICI.

Also, FYI, Skipton BS ar doing a fixed rate bond over 12, 24 or 36 months which pays 4.90% gross 3.92% net (if my calculations are right) and the rate is slightly higher for the 3 year version, I've just openend a 12 month version with the proceeds of another matured investement.