Lloyds 2-year Fixed Cash ISA- any good?

manchesterlady

Hello there,

It's new Cash ISA time for me - I have around £14k to transfer as well as wanting to save the full amount for 12/13 financial year. I want a fixed rate but do not want to consider Santander as not comfortable about their stability. The Llloyds one looks like the best rate but wanted to seek advice from you good people to get some feedback. Honest opinions much appreciated.

Thanks in advance.

MoneySaverLog

I have this ISA and quite happy with it, can add to it at anytime and if rates drop still get 3.7%

Halifax had a similar product but their rate has been cut very recently to 3.25% I'm expecting Lloyds TSB to follow in their footsteps for new ISAs shortly.

innovate

There's a long thread about Santander UK safety - - in a nutshell, they are as safe as any other UK bank or Building Society if you stick to max £85K.

The Lloyds 3.7% ISA is ok - - easy to manage online, and you can add money to it up to your annual allowance, which is unusual for fix-term / fix rate ISAs.

kidgorgeous

Ive just transfered 11k from my isa that i had with egg. Everything went
smoothly but not sure how you can add to it? My isa with egg allowed
me to make a payment by debit card. Can't see any where on the website
that indicates how you transfer money into the account?

kidgorgeous

Anybody? Don't want to have to go into lloyds branch to pay a cheque in
everytime i want to add to the isa.

Anyone know if you can transfer money into the account using online banking?

innovate

Assuming you are talking about a Lloyds ISA (and that you have online access to it) - it has a sort code and an account number, and you can make payments from other UK bank accounts to it, by e.g. Faster Payment or Standing Order.

kidgorgeous

Thanks. It is the lloyds 2 year isa. If i can just transfer money in that would
be great. Its just nowhere does it say that is an acceptable way of topping
the isa.

Jevvers

You usually can't add to a fixed rate ISA - just pay in a lump sum and that's it. I've not looked at this one to see if that's the case.

Although if you've transferred previous years then you will also be able to pay in this year's allowance - but possibly only in one go.

opinions4u

Jevvers wrote: »

You usually can't add to a fixed rate ISA - just pay in a lump sum and that's it. I've not looked at this one to see if that's the case.

Although if you've transferred previous years then you will also be able to pay in this year's allowance - but possibly only in one go.

The Lloyds TSB FRISA does allow additional deposits.

http://www.lloydstsb.com/savings/fixed_rate_cash_isa.asp

Unlike some other banks, we allow you to pay in further deposits throughout the two year term subject to the cash!ISA!limits for each tax year.