Vantage or Santander

Philip624

I have £20k and am looking to get the best interest from it in one year. I was going to go down the vantage route and possibly through halifax as well for the £5 but I am now wondering - Santander's new 3.5 ISA. I could put £8700 in this (the limit for this year and next). Also Santander have a 6% in credit current account for balances up to £2500. Is this not a better route and use the rest of money in Vantage?

premierfella

Short answer - yes.

Longer answer - ...except that (from personal experience) dealing with Santander can be a pain at times, they will no doubt be flooded with new applications for this account and in a years time the same people flooding in now will likely be flooding back out again (which will not be an issue if you are simply withdrawing the cash ISA funds but could be if you will be looking to transfer the cash ISA elsewhere).

D1zzy

premierfella wrote: »

Short answer - yes.

Longer answer - ...except that (from personal experience) dealing with Santander can be a pain at times, they will no doubt be flooded with new applications for this account and in a years time the same people flooding in now will likely be flooding back out again (which will not be an issue if you are simply withdrawing the cash ISA funds but could be if you will be looking to transfer the cash ISA elsewhere).

Agreed - I gave the ISA a passing thought, and reckoned I'd probaly lose so much in interest in the time it would take them to transfer it out in 12 months time (its Santander after all ), I'd give it a miss. If I was doing a cash ISA now. I thnk I'd probably go for the M&S 4% and pay the £100 (only worth it if you have a hefty amount to transfer in) to escape if better rates appear.