dont know what to do......

meezy70

Hi,

Im a newbie looking for some advice and i believe this is the place to find it

I currently pay into a stocks and shares isa every month (£200)
I have a savings account with my bank
I also have a NS&I cash isa (£5400)

I know im limited to what can be paid into these yearly but i'm looking to get good gains on my cash isa and dont know where to put it!

Savings accounts are not bad gains just now, but im really stuck as to what to do with the NS&I cash isa i have! I'm not sure if i could transfer all of it due to the annual limit or if its ok as its a transfer!

Any advice would be greatly appreciated as im completely stuck, and i just discovered that my RBS financial advisor has gone to another job.

Thank you in advance

Baldur

There is no limit on Cash ISA transfers (other than that current tax year's funds must be transferred whole - i.e. not partially transferred).

The new Cash ISA provider must complete the transfer, not you - you just complete their ISA transfer form.

Seemore_2

With regard to actual rates, the First Direct eISA offers 3% for instant access, but you could secure a better rate if you are happy to tie up your money for longer than 12 months.

http://www.moneysupermarket.com/savings/compareresults.aspx?enquiryId=16237232&p=0

You could also if you wish transfer your previous years cash ISA into a stocks and shares ISA, simply by completing the appropriate form available from your chosen new provider.

meezy70

Thanks for the replies!

Im thinking of leaving the isa for a couple of years to get the best gains on it. I'll need to research the best deal for this.

So, i can do a transfer of the full amount?

Baldur

meezy70 wrote: »

So, i can do a transfer of the full amount?

I answered that question in my earlier post - yes you can.

meezy70

Thanks people!

Would you recommend a high interest savings account or another isa?
I'm really unsure what to do to gain the most in the current climate