Cash ISAs: The Best Currently Available List

pbw

SuperOwl86 wrote: »

Thank you, any advice on best place with that amount?

i personally would put it into the chelsea building society 2 year fixed rate isa with a rate guarantee of 3.25%. this account also allows you to add till you've reached the maximum subscription.

http://www.thechelsea.co.uk/savings/invest_isafixcashpostal_intro.html

Baldur

pbw wrote: »

i personally would put it into the chelsea building society 2 year fixed rate isa with a rate guarantee of 3.25%. this account also allows you to add till you've reached the maximum subscription.

http://www.thechelsea.co.uk/savings/invest_isafixcashpostal_intro.html

Incorrect - read the Terms & Conditions:

2. Deposits (minimum and maximum limits)

1. The minimum opening sum is £3,600. The minimum interest earning balance is £1.
2. The maximum you may deposit into a Cash ISA is specified by the Government in the ISA rules. Currently the annual limit you may deposit in a Cash ISA in any one tax year is £3,600. However, subject to compliance with the ISA rules, transfers of funds you have invested with other ISA managers are also permitted to be deposited in this account, provided that the aggregate balance you have deposited in this account does not exceed £100,000.
3. Once your account has been opened you may not add additional funds in that tax year.

pete1976

pbw wrote: »

i personally would put it into the chelsea building society 2 year fixed rate isa with a rate guarantee of 3.25%. this account also allows you to add till you've reached the maximum subscription.

I might be missing something here but why are people so keen to fix their savings rates when rates are just about as low as it's possible to get?

Baldur

pete1976 wrote: »

..........when rates are just about as low as it's possible to get?

Are they?

Most decent savings/Cash ISA rates are well above the BoE base rate of 0.5%, so is it impossible that they could reduce even more?

pete1976

Baldur wrote: »

Are they?

Most decent savings/Cash ISA rates are well above the BoE base rate of 0.5%, so is it impossible that they could reduce even more?

What I really meant was that the BoE base rate is about as low as it can get. I would've thought, though, that the best current cash ISA rates we're currently seeing (in the 3% to 3.5% range) are about as low as they'll get because the banks and building societies need to keep some cash coming in. You're right, though, there's no guarantee of that.

Personally I might (and actually have with some of my ISA cash) fix for 1 year but certainly no more than that.

I'd be interested to hear other people's opinions on this.

SuperOwl86

So can anyone give me some advise on best thing to do with my £14k where i can also carry on adding to this years allowance?

Baldur

The Halifax ISA Direct Reward accepts transfers and you can add your remaining allowance after transfer - 3% guaranteed for 12 months and up to 4 penalty-free withdrawals over the twelve month period, if required. See http://www.halifax.co.uk/savings/isa-direct-reward.asp?source=NETGOOGLSAVESA480001

pbw

baldur - well spotted, don't know what i was reading!

MarkyMarkD

The main reason that people want to fix is because the best fixed rates are better than the best variable rates.

Fixing also stops people wasting hours of their life checking rates all the time!

red_bertie

Take it from one of those who has wasted hours and hours...............a fix is best. Markymark is spot on.