Cash ISAs: The Best Currently Available List

MarkyMarkD

Kent Reliance are back on the case with some good fixed rates:

* Both minimum balance £100
* Both allow transfers in
* Both pay the top rate on all balances

3.00% (3.02% AER) for nine months
3.20% (3.20% AER) for one year

Available from Friday 29 May - see their website for details from Friday onwards. http://www.krbs.com/savingsandinvestments.aspx to bypass the homepages which can be a bit slow to load.

The nine month one is worth considering - many commentators think that rates will rise by the end of this year, so that would mean you could likely refix (or go back to variable) at that stage but have the benefit of a reasonable rate for the nine months.

Oops - edited to say that you can also top up at any time, so useful for the over-50s with their extra £1,500 allowance on 6 October.

MarkyMarkD

Kazza - there was an ISA bulletin yesterday. Can you please update the initial post to clarify that the new £5,100 limit applies to everyone who will reach 50 by 5 April 2010 which is different to how it was originally explained? This means that if you are 49 and a half on 6 October 2009, then you get the new limit - half a year earlier than you might have expected.

Good news for people who fall into that age bracket! (Not me, I would hasten to add. )

Woodyrocks

MarkyMarkD wrote: »

Kent Reliance are back on the case with some good fixed rates:

* Both minimum balance £100
* Both allow transfers in
* Both pay the top rate on all balances

3.00% (3.02% AER) for nine months
3.20% (3.20% AER) for one year

Available from Friday 29 May - see their website for details from Friday onwards. http://www.krbs.com/savingsandinvestments.aspx to bypass the homepages which can be a bit slow to load.

The nine month one is worth considering - many commentators think that rates will rise by the end of this year, so that would mean you could likely refix (or go back to variable) at that stage but have the benefit of a reasonable rate for the nine months.

Oops - edited to say that you can also top up at any time, so useful for the over-50s with their extra £1,500 allowance on 6 October.

I knew there must be a reason I didn't post off my M&S application last week Thanks for the heads up!

ericpode

I'm interested in the Northern Rock 3.25% ISA. Am I right in assuming that this is for locking your money in for 1 year, and that the higher rate 3.3% rates are if you lock-in your money up for longer than a year?

Also I'm a bit concerned by the wording for withdrawals:

"All withdrawals are subject to a charge equivalent to 60 days' loss of interest on the amount withdrawn."

There's no mention of this applying to withdrawals BEFORE the end of 1 year, so does that mean that after a year when I transfer back out to another supplier I will lose 60 days on the full balance!?

(Later...) I just noticed that the Kent Reliance ISA terms say "Take money out of your account (subject to 100 days loss of interest)." - again no mention of these withdrawals being BEFORE maturity, so it sounds like you lose 100 days interest if you transfer out after the maturuty date. This doesn't sound right at all, but it just doesn't mention when the withdrawal or transfer occurs.

phil2009

Kazza, phoned C&G ths morning and their fixed ISA was withdrawn as of Sat 30May ... please update the entry in your 'first post', thanks.

Cheltenham & Gloucester Fixed Rate ISA - 3.50%
Minimum deposit: £30,000+ (to qualify for the higher rate).
Interest payment: Interest can be paid away or compounded.
Notes: Fixed until 30/06/2011. 3.00% is paid for balances totalling £15,000 - £29,999 and 2.50% for £100 - £14,999.

I have been with C&G since the launch of their Tessa (which was converted to an ISA) and was paying 4% last Nov08. Now they are paying a miserly 0.05% (is this a record !!!!), so checked out their fixed 3.5% only to find out it was withdrawn - they are still advertising it on their website, so I phoned up head office and complained - they say they will be removing it !!!

They are quoting 30days for transfers out and say some providers take longer. I thought the government had put a stop to this delaying tactic earlier this year. Is there a chart anywhere which lists the providers which transfer funds fairly quickly.

nb: many thanks for keeping your table updated - it's really helpful.

MarkyMarkD

ericpode wrote: »

I'm interested in the Northern Rock 3.25% ISA. Am I right in assuming that this is for locking your money in for 1 year, and that the higher rate 3.3% rates are if you lock-in your money up for longer than a year?

Also I'm a bit concerned by the wording for withdrawals:

"All withdrawals are subject to a charge equivalent to 60 days' loss of interest on the amount withdrawn."

There's no mention of this applying to withdrawals BEFORE the end of 1 year, so does that mean that after a year when I transfer back out to another supplier I will lose 60 days on the full balance!?

(Later...) I just noticed that the Kent Reliance ISA terms say "Take money out of your account (subject to 100 days loss of interest)." - again no mention of these withdrawals being BEFORE maturity, so it sounds like you lose 100 days interest if you transfer out after the maturuty date. This doesn't sound right at all, but it just doesn't mention when the withdrawal or transfer occurs.

Relax. Term accounts don't charge exit penalties at the end of the term - the penalties are there only if you opt out early.

jimbow25

The Barclays Golden ISA rate has dropped by 1% for new applications - see the Golden ISA feedback thread.

This has probably already been mentioned on a previous page but Natwest also seem to have got rid of the Cash ISA Plus.

owitemisermusa

First Direct Cash e-ISA now at 2.00% AER!!
Is Northern Rock due to withdraw their ISA soon? DO they have a rate guarantee like Halifax used to have? Thanks.

owitemisermusa

Just phoned Northern Rock: Will honour the current fixed rate as long as the transfer occurs within 30 days. As it's a subscription limited ISA, no plans to withdraw the rate till it's fully subscribed - that's the official line anyway.
HTH someone else.

purplestar133

Just trying to work out whether to transfer to Northern Rock 1yr Fixed Rate ISA or Kent Reliance 1yr fixed rate...

I've got a fixed rate with Nationwide due to mature on 10th June, so it's the 'rate fixed until 15th june 2010' bit on the Northern Rock one that's throwing me.

Presumably, once the transfer goes through, 15th June will have passed, so I will have a fixed rate for less than a year. But does the period where I would have a variable rate on the Northern Rock ISA justify going with Kent Reliance instead and taking 0.05% less interest but having it fixed for a year?

(It may also be worth mentioning that I already have a fixed rate isa with Kent Reliance.)