MSE News: Barclays signals end of cash Isa season

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The bank has revealed its 3.1%-paying best-buy cash Isa deal will close in three weeks ..."

Read the full story:

Barclays signals end of cash Isa season

Lokolo_2

Does this not signal that it is worthwhile fixing for the longer term now, if interests rates are only getting lower by the looks of it. I know nothing is certain, but I for one am glad to have signed up to a fixed rate ISA :j

Mickygg

I Agree. Interest in isas and deposits keep falling at moment. I fixed some, wish I'd fixed remainder now seeing what's happened to rates now.
but Barclay's was only 0.1% higher than others around so I'd hardly say this is a major loss, especially as it doesn't accept transfers in anyway.

Lokolo_2

And according to the article the bonus rate ends in June, bringing the rate to only 2.08%, a good time to transfer to another ISA then. I don't see how Barclays can "call" the end of the ISA Season, how is that their decision

We could all be wrong though, if the base rate suddenly climbs and brings interest rates up we could be shaking our heads for going for the fixed rate deals :rotfl:

Ifts

aaronmanz wrote: »

We could all be wrong though, if the base rate suddenly climbs and brings interest rates up we could be shaking our heads for going for the fixed rate deals :rotfl:

IMO fixed rate deals are OK as long as there is a get out clause that does not penalise too heavily for withdrawals.

I went for the M&S 4% Cash ISA fixed for 3 years, if rates suddenly do shoot up its only a £100 penalty to transfer out.

Lokolo_2

Ifts wrote: »

IMO fixed rate deals are OK as long as there is a get out clause that does not penalise too heavily for withdrawals.

I went for the M&S 4% Cash ISA fixed for 3 years, if rates suddenly do shoot up its only a £100 penalty to transfer out.

I totally agree, of course it depends how different the rate is and how much you invested if it's worth paying that penalty, I'm with 5yr Northern Rock, 120 day interest penalty I believe, so it would take quite a good rate to justify transfering out of there before my fixed term period ends! :beer: