Cash ISAs: The Best Currently Available List

former_student

I'm looking for an ISA with a good fixed rate that will allow me to transfer money in at anytime, are there any such ISA's available?

Thanks

Baldur

Most FRISAs only accept a single opening deposit or restrict any additional deposits/transfers to the period during which the account is open to new savers.

LTSB & Halifax are two providers who have, in the recent past, permitted ongoing additions to Cash ISAs offering a fixed rate of interest but they are probably in the minority and aren't necessarily likely to offer what you would consider a 'good' fixed rate.

MarkyMarkD

Kent Reliance also used to allow top-ups to fixed rate ISAs, but their latest offerings only allow top-ups whilst the issue is open.

If you mean a regular saver ISA, former_student, then they DO exist, but there are not many.

apt

Not sure whether you would consider 2.75% fixed till 31 August 2011 a good rate, but the First Direct account is unusually flexible for a fixed rate product. You can transfer in from anywhere except First Direct and transfer out at any time.

MarkyMarkD

I'm not sure why anyone would want a fixed rate that is so low, when they can have a variable rate which is similar but not fixed and which also has the flexibility.

Comfortably_Numb

I see Saga are doing a 3 year fixed rate cash ISA at 3.9% for the over 50s. Is that too long to tie money up at that rate?

Baldur

Comfortably_Numb wrote: »

I see Saga are doing a 3 year fixed rate cash ISA at 3.9% for the over 50s. Is that too long to tie money up at that rate?

Nationwide (over 50s) and M&S are both offering the slightly better rate of 4% for 3 year FRISAs.

Personally, I would be reluctant to fix for more than a year in the current financial climate but your choice will depend on your circumstances.

Comfortably_Numb

Baldur wrote: »

Nationwide (over 50s) and M&S are both offering the slightly better rate of 4% for 3 year FRISAs.

Personally, I would be reluctant to fix for more than a year in the current financial climate but your choice will depend on your circumstances.

I was thinking that too to be honest. I've been with LTSB for the last two years, and have the 3.1% offer, which is where I think I'll end up.

boobbby

Comfortably_Numb wrote: »

I was thinking that too to be honest. I've been with LTSB for the last two years, and have the 3.1% offer, which is where I think I'll end up.

I have also agreed to this offer...as far as I can see if a better rate should come along, then there is nothing to stop me transfering at any time without the loss of interest

tiptoe_mouse

MarkyMarkD wrote: »

I'm not sure why anyone would want a fixed rate that is so low, when they can have a variable rate which is similar but not fixed and which also has the flexibility.

The advantage would be that the rate cannot be cut in the fixed rate period. Seeing as it's not unknown for institutions to launch well paying variable rate ISAs and then slash the interest rate a few months later, this could be useful for peace of mind. With the First Direct ISA you don't lose anything by going for the fixed rate, as it allows access anytime.

tiptoe