Variable or fixed rate cash isa - best deal !!!!

shilts

Hi , i currently have about £18k which has just matured in a Lloyds cash isa which paid 6.5% . This has gone down now to 0.9% so obviously i'm looking for a new home for this . Now i may or may not need this money in the next year or so i'm thinking that i will transfer the money into a variable rate with easy access isa , unless there is a fixed rate one which you do not pay a penalty for making a withdrawal . Can anyone please tell me which are currently the best rates with my main considerations being the following :- a) 100% security on the capital .
b) easy access by internet / phone .
c) NO penalty for making a withdrawal .


Any help would be greatly appreciated , thanks . Shilts .

alastair_h

shilts wrote: »

a) 100% security on the capital .
b) easy access by internet / phone .
c) NO penalty for making a withdrawal ..

Most of the fixed rate are just that, fixed for a set term so that's not really an option. If you have just come out of a fixed rate ISA and not required access - if you could commit to another FRISA for say a year you may get closer to 3.25% - Julian Hodge Bank, see link below.

a) 100% security - not sure if any guarantee this, the best you will probably get is the FSCS which guarantees to pay back the first £50k.
b) Most of the "direct" will allow this sort of access.
c) If it is an instant access / variable there should be no penalties - unless it has a notice period for example.

The best available are also listed here on the forum in kazza's post:-
http://forums.moneysavingexpert.com/showthread.html?t=401374

Looks like Lloyds have a 1y FRISA at 3.2% also....

shilts

Thanks guys , seems like about 2.75% variable against 3.25% fixed . I noticed that the Lloyds fixed does allow withdrawals but with the loss of 90 days interest .