Cash ISAs: The Best Currently Available List

The_Enforcer

Kazza242 wrote: »

The first post of this thread has been updated.

Some more providers have cut their rates in response to the UK interest rate cut in January 2009. Most notable cuts are by Ruffler Bank (now 3.30%) and Standard Life (now 3.00%). Northern Rock have replaced fixed rate ISA (issue 94) which paid 3.50% with issue 97 paying 3.25%.

I expect that more cuts will be applied by providers in the coming weeks following the latest Bank of England UK interest rates cut on 5th February 2009, by 0.50% to 1.00%.

I can confirm that the latest Standard Life cut of 0.5% was in response to the February rate cut (even though it was immediate). They told me this over the telephone when they rang me last weekend to set up my internet access (I can view the balance, but not carry out transfers online). Also, for some reason, I also received a letter from them this week, which was in respect of the January rate cut explaining that they would not be passing this on in full (it had dropped from 3.85% to 3.5%) and enclosing a booklet with the (now out of date) rates.

On this basis, I'm not expecting this ISA's rate to fall again, unless the BoE rate is cut further. The details of the 3% rate on the first post remain correct, but I thought I should correct the above post.

jimbow25

Kazza242 wrote: »

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 I did a really quick update to the first post yesterday, while at work, mainly to update the rates and remove the withdrawn Fixed rate ISAs.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.

Thanks for the calrification. I wasn't trying to accuse you of being slow to update the thread, of course! I just thought there may have been a mistake in the information already there. As Martin's Best ISA page and yesterday's Guardian both referred to the account accepting transfers in, I thought the account may have been like this for a while. Keep up the good work this is a very useful list

Kazza242

jimbow25 wrote: »

Thanks for the calrification. I wasn't trying to accuse you of being slow to update the thread, of course! I just thought there may have been a mistake in the information already there. As Martin's Best ISA page and yesterday's Guardian both referred to the account accepting transfers in, I thought the account may have been like this for a while. Keep up the good work this is a very useful list

Thanks jimbow25.:beer: I think I should have added a smiley or two to my earlier post. I'm glad that the list is useful to fellow MSEs.

DX-SFX

I'd like to add my thanks to Kazza for taking the time to do this. I check in fairly regularly and the first page I check is the updated ISA page. Just wanted you to know your efforts are much appreciated.

purplestar133

DX-SFX wrote: »

I'd like to add my thanks to Kazza for taking the time to do this. I check in fairly regularly and the first page I check is the updated ISA page. Just wanted you to know your efforts are much appreciated.

I second that! (Long term lurker!)

:T

jingle68

if im currently getting 3.49% on my cash isa at todays base rate, how much lower could it go & is it worth fixing on any current rates?
thanks for any advice

MarkyMarkD

How long is a piece of string? Base rates can only fall by 1%, but your particular ISA rate can full by up to 3.49% depending what the provider wants to do (unless it has some sort of guarantee related to base rate).

Whether you should fix depends:

(1) what rate you can get on a fix; and
(2) your view of the future path of variable interest rates.

Nobody reading this thread knows any better than you what is likely to happen!

ashapala

Will not the Natwest Cash Isa plus be dropping by 0.5% on the 1st of march (a week next monday) in line with the base rate?

the182guy

ashapala wrote: »

Will not the Natwest Cash Isa plus be dropping by 0.5% on the 1st of march (a week next monday) in line with the base rate?

That's what I thought. Martin has been on GMTV this morning saying Natwest have the best ISA but he didn't mention anything about the rate is likely to fall soon ??

I have just opened an M&S Cash ISA, I chose this one because Martin said the rate is staying the same at 3.1%

Also I see the OP mentions that some of the best ISA's need to have a premier account with the same provider, but he hasn't mentioned that these ones have payable monthly fees - RBS is £12.50/month and £18/month which obviously kills the good interest rate.

Kazza242

ashapala wrote: »

Will not the Natwest Cash Isa plus be dropping by 0.5% on the 1st of march (a week next monday) in line with the base rate?

The NatWest Cash ISA Plus is a variable rate ISA, so it could really drop at any time, especially as it's currently paying interest above it's rate guarantee. It launched after the last BOE base rate cut (which occurred a few days before) therefore the rate could drop or it may not. It's best to wait and see what NatWest choose to do.

• NatWest Cash ISA Plus - 4.02% AER :starmod: NEW :starmod:
  Rate guarantee? Yes, but not at the current rate. Rate guaranteed not to be less than Base Rate until 01.02.2010. Rate effective from: 09/02/2009.
  Minimum deposit: £1. Operated via: Branch, Internet, Post or Telephone.
  Notes: To qualify for the bonus rate of 4.02%, you must have or open an Advantage Gold or Advantage Private account before opening the Cash ISA Plus - otherwise the rate of 3.51% is paid. You must also open the Cash ISA Plus by 20/04/2009 to qualify for the bonus rate.
  Important: Includes 0.50% bonus for one year. You must have a current or instant access savings account with NatWest.