Cash ISAs: The Best Currently Available List

boobbby

I have actually just over 50k which may seem impossible but if you take into account the amount of interest you could earn and add to the ISA then it is not so difficult Last year Lloyds was paying 6.5% so on £43000 that was £2795. So for us older savers we could this year add £5100 to our fund and just using last years interest of say £2795 means in this one year we could add £7895 to our ISA. Mind! the best rate I could get this year for a 1 year ISA was 3.5% from Northern Rock.

pem2

I calculate the max (and am sure someone will correct me if I'm wrong) that anyone could have put in a TESSA/ISA since 1991 is £44700 without interest, broken down is £9000 for TESSA era, 9 years at £3000 (1999 to 2007), 2years at £3600 with an extra £1500 if eligible this.
And I also have well over 50k in cash ISA's, albeit with many financial institutions, but do agree that it would be unlikely that many would have it all in one place.

MarkyMarkD

My point wasn't that it was totally impossible, just that it is nearly totally impossible and hence clear that they are doing it to get a headline, not to actually allow many people to benefit.

As I have posted before, worrying about the FSCS £50k limit is totally irrational. Nobody has lost a bean over £50k (or £35k as it was) in all the crashes in the last few years, and nobody ever will do either. Accusing financial institutions of irresponsibility for encouraging people to save £50k is completely bonkers, IMHO.

Kazza242

10_66 wrote: »

Kazza: I'm looking to transfer a soon to mature fixed rate ISA, so was checking out your guide (thanks for this). On following your link for the Bucks Gold Rush ISA (120 day notice account @ 3.30%), which I thought I'd take out so that I could consolidate my others when they mature, I found that the minimum balance is £50,000 (not £1,000 as listed on your guide), so excludes me I'm afraid .

They upped the minimum opening deposit recently. It was £1,000 up until sometime early last week. I've amended the minimum deposit field for this ISA.

Have you checked out the other variable rate ISAs that accept transfers in?

carpy

natwest e-ISA has dropped from 3.45% gross to 3.21% gross i found out to my disappointment yesterday! apparently that was from 11/12/09 but first i'd heard of it..:mad:

still a decent rate though looking around...just wasn't expecting it to be cut:rolleyes:

Kazza242

carpy wrote: »

natwest e-ISA has dropped from 3.45% gross to 3.21% gross i found out to my disappointment yesterday! apparently that was from 11/12/09 but first i'd heard of it..:mad:

still a decent rate though looking around...just wasn't expecting it to be cut:rolleyes:

Falling ISA variable rates seem to be the trend at the moment, unfortunately. 3.21% isn't bad for a variable rate ISA, especially as base rate is so low.

The Natwest e-ISA rate of 3.21% is only available to customers who opened an e-ISA account on or before 14 May 2009. The current rates for anyone opening a Natwest e-ISA now is 2.50% for balances of £30k+, 2.25% on £10k - £29,999 and 2.00% on £0 - £9,999.

Kazza242

The first post of this thread has been updated:

United Trust Bank have launched two new fixed rate ISAs. Their one year fixed rate ISA pays 3.25% (rate offered increased from 3.05% to 3.25% 06/01/10) and the three year fixed rate ISA pays 3.75%.

Vernon Building Society have also launched a one year fixed rate ISA, paying 3.25%. You must live within a 25 mile radius of Stockport in order to qualify. I have added the Alliance & Leicester one year fixed rate ISA to the list. It pays 3.05% on balances of £9,000 and above.

Ipswich Building Society are now offering a new fixed rate ISA paying 3.50%. It is fixed until 31/10/2011 and is available to existing members of the society or new customers who live in the following postcodes IP, CO, CM, NR, CB and PE. Both Abbey and Alliance & Leicester are now offering new issues of their two year fixed rate ISAs, paying 3.50% respectively.

Chelsea Building Society's (over 50s) variable rate Cash ISA, paying 3.15% (on balances of £25,000+) and accepting transfers in has been added to the list.

Julian Hodge Bank have again reduced the rate paid on their one year fixed rate ISA, this time from 3.10% to 3.00%. Northern Rock have withdrawn their three year fixed rate ISA which paid 3.75% (rising to 4.00% and 4.50% in years two and three respectively). Also withdrawn this week, was the Principality Building Society (over 50s) three year fixed rate ISA paying 3.80%and Chesham Building Society's (120 days notice) ISA paying 3.00%.

snowgo

As I live within 25 mile of stockport, the idea that vernon are offering 3.25% sounds really good. But clicked through to their site and can only find a fixed rate bond (non-isa) at 3.25% which wouldn't give the tax advantage. Their cash isa is 1% and optimisa is 1.5% up to £25,000. Unless I've missed an isa somewhere on their site?

10_66

snowgo wrote: »

As I live within 25 mile of stockport, the idea that vernon are offering 3.25% sounds really good. But clicked through to their site and can only find a fixed rate bond (non-isa) at 3.25% which wouldn't give the tax advantage. Their cash isa is 1% and optimisa is 1.5% up to £25,000. Unless I've missed an isa somewhere on their site?

It's listed on emoneyfacts.co.uk, maybe they just haven't updated their website yet.

slinga

MarkyMarkD wrote: »

My point wasn't that it was totally impossible, just that it is nearly totally impossible and hence clear that they are doing it to get a headline, not to actually allow many people to benefit.

As I have posted before, worrying about the FSCS £50k limit is totally irrational. Nobody has lost a bean over £50k (or £35k as it was) in all the crashes in the last few years, and nobody ever will do either. Accusing financial institutions of irresponsibility for encouraging people to save £50k is completely bonkers, IMHO.

Why not increase the 50k to 100k then.

Wouldn't that improve confidence?