Cash ISAs: The Best Currently Available List

pennylessstudent

fullstop wrote: »

Thanks Baldur, Not much in it really . Plus a bit extra at a lower rate to be added on for the last month for NR would bump it up a bit more for 12 months each.

I went into Northern Rock today, with this ISA they pay interest on 1st December even though the rate is fixed until 15th. Also they don't think this will be available much longer as they have had it since start of December last yr.

I've also been into Nationwide, they didn't seem to think they would have their fixed rate ISA Bond much longer at the same rate as well as they have also had that since the start of December.

The_Enforcer

Birmingham Midshires have a 4% variable AER ISA:

http://www.askbm.co.uk/savings/p/isa/product.asp?id=188

It says you can transfer in previous years' ISA - would that also apply to this year's Icesave ISA money?

Also guaranteed to stay 0.25% above the AER of the ING ISA detailed below - therefore presently it couldn't drop any lower than 3.5%.

Is this worthy of inclusion on the first post of the thread?

The_Enforcer

This is an unusual ISA from ING, unfortunately it doesn't allow transfers in.

http://www.ingdirect.co.uk/savings/our_savings/isa/

Although it has an AER of 3.25%, this includes what appears to be effectively a fixed rate of 3.69% for 6 months before it drops to an uncompetetive variable rate presently at 2.72%, which brings the AER down. For 6 months, this looks to me to be providing the benefits of a fixed rate deal without the fixed rate penalties for early withdrawal. On that basis, is it worthy of inclusion on the first post of the thread under a special heading (fixed rate 6 months - new money only)?

bronzemonkey

The NR 4% Fixed Rate ISA is withdrawn from the end of today. Already taken down from their website.

TomsMom

The Manchester BS Premier ISA at 4% has recently been added to the "transfer-in" list.

Does anyone know if this 4% rate has recently changed or is due to change?

Don't want to transfer my 3% ISA into the Manchester if it's likely to drop it's rate pretty soon.

Kazza242

The first post of this thread has been updated.

There have been a few rate changes since the last update (a couple of days ago). Julian Hodge Bank have replaced their 4.25% fixed rate ISA with a 4.00% one w.e.f. 09/01/2009 and Northern Rock have withdrawn their 4.00% fixed rate ISA.

The Birmingham Midshires Direct ISA (issue 3) paying 4.00%, has been added to the list. BM did make it available in December, then it was withdrawn and now it appears to be available again - at least at the time of writing this post.

Following the Bank of England's latest decision to reduce UK interest rates by 0.50% to just 1.50%, I expect that variable rates will continue to tumble, as providers respond to the cut.

TomsMom - Unlike most of the other variable rate ISAs; the Manchester BS Premier ISA rate wasn't cut in December '08 or January '09 - so they could apply two rate cuts following the most recent BOE rate cut.

TomsMom

Kazza242 wrote: »

TomsMom - Unlike most of the other variable rate ISAs; the Manchester BS Premier ISA rate wasn't cut in December '08 or January '09 - so they could apply two rate cuts following the most recent BOE rate cut.

Thanks Kazza. I think I'll sit tight for now then - don't want to jump out of the frying pan into the fire!

pennylessstudent

The_Enforcer wrote: »

Birmingham Midshires have a 4% variable AER ISA:

http://www.askbm.co.uk/savings/p/isa/product.asp?id=188

It says you can transfer in previous years' ISA - would that also apply to this year's Icesave ISA money?

Also guaranteed to stay 0.25% above the AER of the ING ISA detailed below - therefore presently it couldn't drop any lower than 3.5%.

Is this worthy of inclusion on the first post of the thread?

I think thats right yeah, it's probably worth phoning to ask but I would say that if they accept transfers of previous ISA money then they will take this years ISA money too.

MarkyMarkD

Kazza

Kazza242 wrote:

Kent Reliance BS Direct 65+ Variable Cash ISA - 3.32% AER (as of 01/01/2009)
Rate guarantee? No.
Minimum deposit: £30,000. Operated via: Post.
Interest payment: Interest can be paid away or compounded.
Monthly interest option available? Yes (4.18% gross rate applies)

Another dodgy monthly rate, methinks.

The_Enforcer

My specific circumstances are that I have Icesave ISA money to reinvest and a fixed rate deal or notice ISA is not viable as I am likely to need to use the money for a house deposit towards the end of this year. Therefore I am looking at the following deals:

Kazza242 wrote: »

Mini Cash ISAs: The Best ISAs Currently Variable rate mini cash isa's that accept transfers in:

• Birmingham Midshires Direct ISA (issue 3) - 4.00% :starmod: NEW :starmod:
  Rate guarantee? Yes. Guarantees to beat the ING Direct Cash ISA standard AER by at least 0.25% until 01/01/2010.
  Minimum deposit: £1. Operated via: Post.
• Manchester BS Premier ISA - 4.00% :starmod: NEW :starmod:
  Rate guarantee? No.
  Minimum deposit: £1,000. Operated via: Agency, Branch or Post.
• Standard Life Direct Access ISA - 3.85% :starmod: NEW :starmod:
  Rate guarantee? No. Minimun deposit: £1. Operated via: Telephone.
• Leek United BS Tax Friendly ISA - 3.75% :starmod: NEW :starmod:
  Rate guarantee? No. Minimum deposit: £1. Operated via: Branch or Post.
• Scottish Widows E-Cash ISA - 3.60% (as of 01/01/2009)
  Rate guarantee? Yes, but not at the current rate. The rate following the bonus period is guaranteed to be no less than 0.25% below Scottish Widows Bank Base Rate until 31 December 2012.
  Minimum deposit: £10. Operated via: Internet.
  Notes: Rate includes a 1.50% bonus payable for 12 months.
• Alliance & Leicester Easy ISA - 3.50% (as of 01/01/2009)
  Rate guarantee? No. Minimum deposit: £1. Operated via: Internet and Telephone.
  Notes: Rate includes a 1.00% bonus payable to 31.09.2009.
• Harpenden BS Simply ISA - 3.25% (as of 02/01/2009)
  Rate guarantee? No. Minimum deposit: £1. Operated via: Branch or Post.
• Principality BS e-ISA - 3.10% (as of 01/01/2009)
  Rate guarantee? No. Minimum deposit: £1. Operated via: Internet.
  Important: Initial deposit must be by cheque. Transfers in are permitted subject to a deposit for 2008/09 ISA year being made simultaneously.

On paper, the Birmingham and Manchester ISAs offer the best rate at 4% and would continue to do so assuming a 0.5% cut is applied across the board.

However, my question is this: as these were not cut during the period between the December and January rate cuts, how likely is it that they will be the subject of a greater rate cut (around 1.5%), which would take them below the Scottish Widows ISA (assuming that only falls by 0.5%)?

Are the Standard Life and Leek United ISAs similarly at risk of a greater rate cut?