Instant access ISA for OAP - help needed

Ned123

Hi,
My nan has an instant access ISA paying a measly 0.25%
I have urged her to change it, but she wants to have a passbook.

Does anyone know of any decend interest rate paying, instant access ISA's that allow a passbook?

Thanks for any help in advance.

Old_Wrinkly

Some questions (to enable a detailed reply to be given to your post) :
1. Does your nan normally pay tax? If she doesn't then an ISA wrapping isn't important.
2. Roughly how much are we talking about? Some accounts require a minimum level of funds.
3. Who does she bank with at the moment? They might actually have an account that meets her requirements.
4. Does she want to be able to physically visit the bank/building society? This seems likely if she wants a passbook, but some members of this forum have passbook accounts with building societies all over the place and do their business by post.
5. Does she really need instant access to the capital? Some accounts can pay monthly interest into a separate account (which is then easy access).

In broad terms, a passbook account is most likely to be found at a building society. Although there are a great deal fewer than there were 10 or 15 years ago, there are still a substantial number. But they are often (by their nature) restricted in terms of geographical areas (unlike the banks).

More info will help us to be more specific.

martinman3

And concerning point 4 in Old Wrinkly's post above, if she needs to visit the branch please specify the town or county in which your nan lives as there are many accounts which will not be available to her.

Ned123

Thanks both of you,

My nan is in Gosport, Hampshire. I think she has about £6000, and lets assume she pays tax (I need to check that, because I hadn't even thought about just a normal high paying savings account).

She wants to be able to visit the bank / building society, and definately wants instant access.

She is currently with Nationwide, whose alternative is the champion ISA, but it's 60 days notice. She's already said no to this.

Thanks again.

martinman3

A quick search tells me that Gosport has branches of HSBC, Lloyds TSB, NatWest, Barclays, Halifax, Santander and Post Office in addition to Nationwide.

Lloyds TSB has an instant access ISA 2.5% AER which can be operated in branch, you need to check if it uses a passbook. Includes 1.5% bonus for a year.
http://www.lloydstsb.com/savings/cash_isa.asp