First Direct to launch 6.25% mini cash ISA

ED

Interesting, Milarky!

Alas, my ISA for the current tax yr requires withdrawal notice, so I can't move it to FD.

I too am tempted by Lambeth Bdg Soc's ISA. Anyone here with experience transferring existing ISA to them? I'm considering opening a Lambeth ISA around 6th April, possibly enhancing it with previous years' ISAs (after notice).

Jay_Wiseman

right ive already posted a thread here with my intention/worries :
http://forums.moneysavingexpert.com/showthread.html?t=38143

Im just about to open up my first ISA, after reading this thread would anybody here recommend that I do the following to get the highest amount of interest?:

Basically open up a First Direct e-Isa (this tax year, i must be quick I know) put 3k cash in it, then add another 3k cash after april 5th, then simply open up another Isa (which ever has the best rate going at the time) in october and transfer the balance over from the FD Isa (when the interest rate drops)?

Sorry for being a nuisance im a little confused. Would this be a good move for a first timer? Any help will b emuch appreciated.

Reaper

Yes that's reasonable.

Jay_Wiseman

top stuff, cheers.

Kazza242

Jay_Wiseman wrote:

right ive already posted a thread here with my intention/worries :
http://forums.moneysavingexpert.com/showthread.html?t=38143

Basically open up a First Direct e-Isa (this tax year, i must be quick I know) put 3k cash in it, then add another 3k cash after april 5th, then simply open up another Isa (which ever has the best rate going at the time) in october and transfer the balance over from the FD Isa (when the interest rate drops)?

Sorry for being a nuisance im a little confused. Would this be a good move for a first timer? Any help will b emuch appreciated.

Jay - That does sound wise, BUT (I know this sounds silly), do make sure that the new ISA you choose in October accepts transfers. Not all ISA's do, so please do make sure you do your research.

Jay_Wiseman

yeah will do, thanks for the concern.

EcO_3

Bob_Frapples wrote:

...are Cahoot doing 6.25% on an ISA too...?

cahoot do not currently offer a cash ISA account. However, we do offer a stocks and shares ISA through cahoot sharetrading.
Would you like to know more about our sharetrading with cahoot?

ED

EcO - nice to have someone from cahoot, here!

A family member is very chuffed with 5.65% gross paid on cahoot's Introductory Rate Savings a/c (alas, now closed to new applicants).

Slimeball20

Jay,

I've just checked the website to check out the First Direct ISA, but it's closed to new applicants until the new tax year.

I guess if you try by phone, it might be different.

Let us know!

Kazza242

Slimeball20 wrote:

Jay,

I've just checked the website to check out the First Direct ISA, but it's closed to new applicants until the new tax year.

I guess if you try by phone, it might be different.

Let us know!

If you are already a First Direct customer i.e you hold a current/savings account with them, then you can still apply for their ISA this tax year. It is only closed to non-First Direct customers for this tax year.

However, from April 6, they will start accepting new applications from non-First Direct customers for the 2005/06 tax year.

Here's a link to their E-ISA page.