Cash ISAs: The Best Currently Available List

jimbow25

If I want to transfer money from 2 ISAs that are both paying only about 2.3% at the moment, to a better provider, would people recommend I hold fire until we get nearer to 5th April, assuming some more good accounts might come out?

Normally some new products seem to come out around March time to encourage people to use what's left of their allowance. I know the rates won't be brilliant this year - and if anything the base rate could fall again - but they might still be better than the 3% ish that's being offered now.

Lokolo

Most of the good rates that come out in April are for new money only.

martinman3

Just_landed wrote: »

Telephoned them this morning 13-02-09 and was told that this one (3.50%) fixed for one year was closing today, so close so near. The person on the other end of the phone said they were bringing another out @ 3.2 somthing.

The Monmouthshire Building Society Fixed Rate ISA is better than most because you can add to it, keeping within subscription limits, during the 12 month fixed rate period and the added funds earn interest at the fixed rate.:T

I vaguely remember another fixed rate ISA being mentioned on MSE which did that.

p.s. Access is not just by post, if you register for web access you can access via internet too.

MarkyMarkD

Kent Reliance do the same as Monmouthshire with Fixed Rate ISAs, but they aren't offering any right now.

@jimbow - if you are happy to fix your rate, I would jump now as rates are only going to go down between now and April IMHO. If you want a variable rate then POSSIBLY the increased competition in April will push rates up a bit, but I wouldn't bet too much on it.

Just_landed

martinman3 wrote: »

The Monmouthshire Building Society Fixed Rate ISA is better than most because you can add to it, keeping within subscription limits, during the 12 month fixed rate period and the added funds earn interest at the fixed rate.:T

I vaguely remember another fixed rate ISA being mentioned on MSE which did that.

p.s. Access is not just by post, if you register for web access you can access via internet too.

Be wary their last fixed rate isa when it matured into a variable Isa had a 30 day notice on it, so might be a problem in a years time when you wanted to transfer it to a new provider and grab a decent interest rate IE :- waiting a month before it can be transfered.

martinman3

Just_landed wrote: »

Be wary their last fixed rate isa when it matured into a variable Isa had a 30 day notice on it, so might be a problem in a years time when you wanted to transfer it to a new provider and grab a decent interest rate IE :- waiting a month before it can be transfered.

It changes into their Cash ISA 2 after 12 months which requires 30 days notice/loss of interest on withdrawals but notice is not needed on transfers out.
Of course, it may take up to 30 days to make any ISA transfer so transferring to a fixed rate/limited issue ISA is always tricky.

jimbow25

Thank you for the advice above. I would prefer not to lock my money away for now even though it will probably mean a worse rate, so I will wait a few weeks.

Kazza242 wrote: »

Mini cash isa's for 'new money' only (i.e. they don't accept transfers in):
<snip>

• NatWest e-ISA - 3.49% AER
  Rate guarantee? Yes, but not at the current rate. AER guaranteed to be at least equal to Base Rate until 01.07.09. Rate effective from: 02/02/2009.
  Minimum deposit: £1. Operated via: Internet.
  Notes: Must have or open a NatWest Instant Access account (excluding e-savings and savings direct).

I am slightly confused by this. According to the link the rate is 3.25% or 3.51% AER depending on the balance you hold, and they DO accept transfers in, making it as good as any that are on the "accepts transfers in" list. Maybe the conditions have changed?

By the way that Natwest Cash ISA Plus pays 4.02% if you're a Gold customer but also pays 3.51% if you're not, so it's probably still a good option for new money. Might be worth mentioning that there's still a reasonable rate for new customers with £1+ as well as being "4.02% with strings attached". (I don't work for NatWest by the way!)

martinman3

jimbow25 wrote: »

I am slightly confused by this. ......., and they DO accept transfers in, making it as good as any that are on the "accepts transfers in" list. Maybe the conditions have changed?

Yes, they changed this only yesterday so Kazza needs to edit this.
see https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=182403

Kazza242

jimbow25 wrote: »

I am slightly confused by this. According to the link the rate is 3.25% or 3.51% AER depending on the balance you hold, and they DO accept transfers in, making it as good as any that are on the "accepts transfers in" list. Maybe the conditions have changed?

By the way that Natwest Cash ISA Plus pays 4.02% if you're a Gold customer but also pays 3.51% if you're not, so it's probably still a good option for new money. Might be worth mentioning that there's still a reasonable rate for new customers with £1+ as well as being "4.02% with strings attached". (I don't work for NatWest by the way!)

Hi jimbow25 - The NatWest eISA accepting transfers is a new thing. They changed it to accepting transfers when they launched the Cash ISA Plus this week. I did a really quick update to the first post yesterday, while at work, mainly to update the rates and remove the withdrawn Fixed rate ISAs.

I planned on going through the first post, adding more ISA details today, which was why I said that the next update would be made this weekend. There's not enough time to do that sort of thing while at work, even on my lunch break, so major updates are made at weekends.

Kazza242

The first post of this thread has been updated.

Fixed Rate ISAs by Nationwide (paying 3.50% and 3.30% for 3 years and 2 years respectively) have been added. Also added, is Julian Hodge Bank's 1 Year Fixed rate ISA paying 3.25%.

Earl Shilton BS (90 days notice) ISA (paying 3.05%) has also been included along with more information on the Cash ISA Plus offered by Natwest and RBS. The Natwest e-ISA has been moved to the transfers in section, as this week they started accepting transfers into this ISA.

Next update will be made in midweek.