Where is everyone putting their £5,100 on April 1st?

malik999

I won't be rushing to use my 2010/11. Such a headache. I lost all faith in ISA's last year when...

1) Experienced so much time and hassle last year opening and transferring ISA's from Egg to Natwest. I am unwilling to put myself through all that again

2) It seemed like all the banks were deliberately keeping ISA rates low. I was able to get better interest rates on a bond than I was with a ISA even taking into account the Tax Free benefit of the ISA's.

apt

Your second point was true for most of the year, but is less the case now as some ISA rates have gone up and banks have been cutting rates on non-ISA savings accounts. As I have a maturing Nationwide fixed rate ISA I have rolled it into NW's 3 year fix at 4.4% I have just added the £5,100 for next year to this account. Not a bad rate and it just meant ticking a box and writing a cheque.

MsDee

Hi again everyone,

I'm going to put my £5,100 into Alliance and Leicester's One Year Fixed Cash Isa - rate 3.2%.

I'm not convinced by Ns&I, seems like a lot of hassle...

Happy investing.

QuietDragon

MsDee wrote: »

I just wondered whether people are putting it in an ISA as a lump sum or whether they're going for a higher rate (not ISA) that after tax might give them a better rate.

Roughly £1000 in each of the following, all set up and sorted out on-line 1am on the 6th. My time-horizon is 24 years 10 months. I didn't even come close to considering a cash ISA.

Aberdeen Emerging Markets A Fund Acc
BlackRock Gold & General A Fund Acc
First State Global Resources A Fund Acc
First State Greater China Growth A Fund Acc
Invesco Perpetual Latin American Fund Acc
Investec Global Energy A Fund Acc
Jupiter India Fund Acc

Invesco Perpetual European High Yield Fund Acc
Investec Emerging Markets Debt A Fund Acc
Old Mutual Global Strategic Bond A Fund Acc

D1zzy

MsDee wrote: »

I'm going to put my £5,100 into Alliance and Leicester's One Year Fixed Cash Isa - rate 3.2%.

Good luck when you want to transfer it out in 12 months time - "they are Santander!"

MsDee

D1zzy wrote: »

Good luck when you want to transfer it out in 12 months time - "they are Santander!"

Meaning???:)

Andystriker

Leek United 5 year Fix at 4.4%

D1zzy

MsDee wrote: »

Meaning???:)

Their famous errors cockups and lack of customer service coupled with mega numbers who will be trying to extracate their funds at the same time - slim chance of it going smoothly, but you might be lucky.
{my own experience was being given the wrong account number for an account and transferring in 10K - only to be told when I phoned up to check the balance, that I had the wrong account number so they couldn't talk to me - many days; many phone calls and many expletives to sort. No apology and no compensation offered }

MsDee

D1zzy wrote: »

Their famous errors cockups and lack of customer service coupled with mega numbers who will be trying to extracate their funds at the same time - slim chance of it going smoothly, but you might be lucky.
{my own experience was being given the wrong account number for an account and transferring in 10K - only to be told when I phoned up to check the balance, that I had the wrong account number so they couldn't talk to me - many days; many phone calls and many expletives to sort. No apology and no compensation offered }

Oh, that's a shame. I have to say I have had good customer service experiences with them, well A and L. I opened the premier direct current account - and just pull in and out the £500 each month to get the interest rate of 6%, it's now dropped to 5%.

I'm going to stick with them and keep my fingers crossed.:D

Newly_retired

I would not consider fixing for more than a year as there is no way we can be certain that inflation won't kick in and rates rise.