Cash ISAs: The Best Currently Available List

Ian_W

Bumpee - from nearly page 4!

lucky77

Please note Norwich & Peterborough's 5 year FR Isa has dropped from 4.55% to 4.3%. My existing Isa with them matured yesterday and had planned to transfer to this but will now look elsewhere. Thanks Kazza for your helpful summary of the best isas available.

hellsbells2702

Hi, I'm completely new to ISAs and very confused by all the masses of information so hope someone can help. I have about £5000 that I'd like to put into an ISA. I think I'd like to split it into 2 different ISAs, so that one account I can access if i need to, and the other is a fixed account for 2 or 3 years. Can anyone advise which would be the best ISAs for this purpose? And does my idea make sense or would i get more benefits doing it some other way?

Baldur

hellsbells2702 wrote: »

Hi, I'm completely new to ISAs and very confused by all the masses of information so hope someone can help. I have about £5000 that I'd like to put into an ISA. I think I'd like to split it into 2 different ISAs, so that one account I can access if i need to, and the other is a fixed account for 2 or 3 years. Can anyone advise which would be the best ISAs for this purpose? And does my idea make sense or would i get more benefits doing it some other way?

1. You can only open and subscribe (pay new money into) to ONE Cash ISA per tax year.

2. The maximum annual Cash ISA allowance is £3,600 for those who are under 50 years of age by 5th April 2010. Those who are 50 or over by that date have an allowance of £5,100.

3. From 6th April 2010, all savers over 16 years of age will have an annual Cash ISA allowance of £5,100.

Lokolo

hellsbells2702 wrote: »

Hi, I'm completely new to ISAs and very confused by all the masses of information so hope someone can help. I have about £5000 that I'd like to put into an ISA. I think I'd like to split it into 2 different ISAs, so that one account I can access if i need to, and the other is a fixed account for 2 or 3 years. Can anyone advise which would be the best ISAs for this purpose? And does my idea make sense or would i get more benefits doing it some other way?

You cannot do this.

You can only put money into 1 ISA each tax year. So putting into 2 is a no no.

You can only put £3,600 into an ISA each tax year, unless you are old (over 50).

I would suggest you fix an ISA (of which you can put £3,600 in) and have an instant access savings account (for the rest, so £1,400)

KingL

MarkyMarkD wrote: »

Some other sites have a "multi-quote" facility which is not enabled on MSE. This does give the correct linkage for each quote, and is a lot less faff than the approach required here to achieve the same result.

Yeah, it has - it's the button to the right of each post with the quotation marks and the +. Click on that button on each of the posts you want to have quoted in your reply.

steady__eddie

"You can only put £3,600 into an ISA each tax year, UNLESS YOU ARE OLD (over 50)."

Well thank you Lokolo, that's put me in my place hasn't it ?

Victor Meldrew has just turned over in his grave.

MarkyMarkD

KingL wrote: »

Yeah, it has - it's the button to the right of each post with the quotation marks and the +. Click on that button on each of the posts you want to have quoted in your reply.

Well, b**** me. Is that new?

MarkyMarkD

Lokolo wrote: »

You cannot do this.

You can only put money into 1 ISA each tax year. So putting into 2 is a no no.

You can only put £3,600 into an ISA each tax year, unless you are old (over 50).

I would suggest you fix an ISA (of which you can put £3,600 in) and have an instant access savings account (for the rest, so £1,400)

This is not exactly true.

Some providers will allow you to split the allowance across two accounts with them. IMHO this is liberal interpretation of the HMRC rules, but I can see why they think it's allowed too. The "only one of each type" rules are only there to stop people over-funding, so it's actually LESS likely that people will over-fund if they have two accounts with the same provider rather than one - and then "accidentally" open a second one elsewhere.

KingL

Is that new?

coupla months, I think