Review of ISA choice

isayhello

Hi,

I've been looking at a few options today for investing in an ISA for this tax yr and also transferring in from previous years. I just wanted to ask for some opinions about my choices.

I'm looking at going with a fixed account so I dont have to worry about the rates dropping, I'm happy to fix for 1 or 2 yrs.

I'd prefer to open an account in branch and do all the transfer paperwork there than have to post stuff.

The best deal I think I've seen is the rbs 2yr fixed at 3.7% which I can open in the branch. I cant find too much in the forums recently about peoples experiences with rbs though.

My other choice was going to be the NR 3% fixed option for 1 yr.

Appreciate any feedback.
Thanks

bigfreddiel

isayhello wrote: »

Hi,

I've been looking at a few options today for investing in an ISA for this tax yr and also transferring in from previous years. I just wanted to ask for some opinions about my choices.

I'm looking at going with a fixed account so I dont have to worry about the rates dropping, I'm happy to fix for 1 or 2 yrs.

I'd prefer to open an account in branch and do all the transfer paperwork there than have to post stuff.

The best deal I think I've seen is the rbs 2yr fixed at 3.7% which I can open in the branch. I cant find too much in the forums recently about peoples experiences with rbs though.

My other choice was going to be the NR 3% fixed option for 1 yr.

Appreciate any feedback.
Thanks

Why do people wait till the last few months of the ISA year before investing/saving? You've lost out on 9+ months of tax free interest - could be £200+!

Other than not having the spare cash - there'sno real excuse is there?

fj

Mikeyorks

isayhello wrote: »

Appreciate any feedback.

With all fixed rate ISAs and where you're looking to fund in 2 bites (cash + transfer in) you need to check the T&Cs permit that. As a lot still only allow a single deposit. Both your choices appear to allow what you intend.

RBS are fine - but do watch the application for the 2 year needs to be in by 28/12 (?). And the ISA will be easy access (0.55%?) until the fixed rate kicks in from 1.2.12.

isayhello

bigfreddiel wrote: »

Why do people wait till the last few months of the ISA year before investing/saving? You've lost out on 9+ months of tax free interest - could be £200+!

Other than not having the spare cash - there'sno real excuse is there?

fj

Hi Freddie,

The reason in this case was not having the spare cash available till now.

You make a good point though.

Thanks

isayhello

Mikeyorks wrote: »

With all fixed rate ISAs and where you're looking to fund in 2 bites (cash + transfer in) you need to check the T&Cs permit that. As a lot still only allow a single deposit. Both your choices appear to allow what you intend.

RBS are fine - but do watch the application for the 2 year needs to be in by 28/12 (?). And the ISA will be easy access (0.55%?) until the fixed rate kicks in from 1.2.12.

Thanks Mike,

Yep I checked both out and they allow transfers in. I did note that I'll be on the easy access rate for a month but the fixed rate kicks in pretty soon, so I can handle it for a month.

I was just wondering if these were bad choices for any reason or if there was something much better out there, but having read Martins selection and also having a browse, I thought these 2 were suitable for me.

Mikeyorks

isayhello wrote: »

I thought these 2 were suitable for me.

Unless they're way off track in terms of interest rates .... the comfort factor is important.

At the moment with the continuing uncertainty over longer term interest rates I tend to fix all our cash ISAs at 1 year. But will go back to 5 years ...... as soon as someone offers 6% again!

isayhello

Mikeyorks wrote: »

Unless they're way off track in terms of interest rates .... the comfort factor is important.

At the moment with the continuing uncertainty over longer term interest rates I tend to fix all our cash ISAs at 1 year. But will go back to 5 years ...... as soon as someone offers 6% again!

I know what you mean, for me it's just the convenience of going into the branch and filling in the forms there and then instead of going through the online way which still involves posting back transfer forms etc.

I'm the same as you, happy to lock in for a yr maybe 2 but not more than that at the moment.