06/07 ISA Accounts interest rates.

Sillychuckie

Hi there,
Unlike most people that seem to start worrying about ISA's towards the end of the tax year (nowish, when banks advertise them all), I always try to jump in early at the start of the tax year to maximise the tax free savings we are all entitled to.
i.e. I am looking forward to the 5th/6th April 06, when I'll be planning to pounce on the best deal available at the time.

Question:
Is there anywhere to get a 'heads up' for upcoming 06/07 ISA deals to get an idea of what might be offered this time, next week? Surely banks want to rope us in for the next tax year too so will be likely to offer some pretty high interest rates. I'd have thought some of them would be advertising these rates already, even though they aren't quite yet available. Perhaps this would confuse customers however as lets face it, they aren't all as tax saving savvy as most of us are.
Anyway, I was able to secure a 5.5% fixed interest rate last year by jumping in on a special offer Abbey ran for about 5 days into the new tax year but was slightly silly choosing a term of only 1 year, rather than the 3 available.
If anyone knows where I might find out about deals that are only just around the corner, I'd appreciate any info.
If not, I'll be hoping A&L keep the 5.2% offer available for a few days after 5th-Apr so I can make use of it, but ideally, I'll be able to find another 5.5%+

Thanks,
Howard.

Kazza242

I've noticed that most new mini cash isa's are launched in February, March and early April.

There are a lot of savers that take advantage of their mini cash isa allowance at the end of the tax year - I guess because they don't always have the funds available at the beginning of the year like some of us. Also, some people are new to saving and may have only just heard about mini cash isa's and the benefits they offer. Remember, we all had to start somewhere .

Most of the new mini cash ISA's have already been launched and advertised. Many of those that were introduced within the last couple of months will remain available for new deposits into the new tax year. Afterall, what's the point of only opening for business at the end of the tax year, when numerous savers will also be looking for a place to utilise their new allowances.

The best places to get info on new mini cash ISA's prior to launch are:

This website,moneysavingexpert of course! Some of us regulars are pretty quick of the mark!

The Daily Mail online money website
Thisismoney

The Moneyfacts website

The Moneysupermarket website

Also most newspapers are available online. You can view their money sections, where new mini cash isa details are often revealed ahead of the official launch.

Sillychuckie

Well, I recall last year that the 5.5% Abbey offer I mentioned was (I think) only launched after the tax year had rolled over... but I'll wait till the time comes and see what is available.
If nothing new, A&L @ 5.2 will do me fine...

Although, this will mean nearly all my money is with the same bank.. A&L.
That worries me slightly but I suppose I'm reasonably safe with an institution of that size.

Cheers.

ManAtHome

The "dive in early" route is a good idea - as long as you stick with the "no penalty" providers you can always move it in June/July when the rates have settled down and the cowboys have become more obvious.

Dagobert

Is it correct that A&L is now one of the penalty-free providers, too?

I transferred last year's ISA from FirstDirect to Halifax and the process took about a month. Does one lose any interest during this process depending on which providers are involved?