Cash ISAs: The Best Currently Available List

owitemisermusa

Of the top 3 variable ISAs that have bonuses and allow transfers in - Nationwide, C&G, Birmingham Midshires, which is the best?

Don't really want to fix this bit of my savings in case I need access in a flash so looking at instant access ISAs.

Thanks guys.

Kazza242

owitemisermusa wrote: »

Of the top 3 variable ISAs that have bonuses and allow transfers in - Nationwide, C&G, Birmingham Midshires, which is the best?

Don't really want to fix this bit of my savings in case I need access in a flash so looking at instant access ISAs.

Thanks guys.

It depends. Is it important to be able to manage your ISA via the Internet? If, so, then the Nationwide e-ISA is the most suitable as the other two cannot be managed via the Internet.

The other factors to consider are:

- Are you an existing customer of Nationwide, BM or C&G?
- As there is only a 0.05% difference in rate between Nationwide and the other two ISAs then it is worth taking into account the length of the bonus period. BM's bonus period lasts for 15 months while the bonuses on the other two last for 12 months. C&G's bonus of 1.70% for 12 months means that the rate will drop to just 1.00% after a year.

Of the three, I would put Nationwide and BM ahead of C&G because, the former pays a higher rate and the BM ISA has a longer bonus period.

boobbby

If there is a possibility you may need access to your saving why dont people take out a lloyds /vantage ISA and get 4% gross which is calculated daily and is for saving of between £5000 and £7000. You will then have instant access to your money and not lose any interest if needed. Then just before the end of the tax year take out an ISA using their £5100 allowance.:)

10_66

boobbby wrote: »

...why dont people take out a lloyds /vantage ISA and get 4% gross which is calculated daily and is for saving of between £5000 and £7000...

I don't think you meant lloyds/vantage ISA, 'cause it's not an ISA, it's a current account . Regular readers will get what you mean, but newbies may not.



.

Graham.cat

I'm looking for a good place to transfer in previous years cash ISAs and take up this year's allowance.

I'd more or less decided on the Birmingham Midshires at 2.7%, (with thanks to those who have given pointers on possible disadvantages with some of the others).

However, I've just spotted the 3% Barnsley deal. I can see that it's got it's restrictions on access, but as this is not a problem to me, I'm wondering whether anyone else would care to take a look and point out any other important considerations that I may have missed.

Thanks.

10_66

Graham.cat wrote: »

...However, I've just spotted the 3% Barnsley deal. I can see that it's got it's restrictions on access, but as this is not a problem to me, I'm wondering whether anyone else would care to take a look and point out any other important considerations that I may have missed...

Well, the Post Office offer a 1 year fixed at 3%, and the Barnsley is fixed until December 2011. Aldermore offer a 2 year fix @ 3.25% (I know Santander offer 3.50%, but I wouldn't touch them with a barge pole). So if it were me, I'd either go with the PO, just in case the rates go up, so your money will be available earlier than with Barnsley, or go with Aldermore to get the extra interest (albeit being for 6 months more than Barnsley).

steady__eddie

Since my crystal ball broke, I have been forced to rely to some extent on the witterings of economic "gurus". These are taken with the obligtory pinch of salt but one that I saw yesterday raised my interest.
Ernst and Young Item Club says B of E will have to keep rates at their record low of 0.5% until 2014 to counterbalance the govt's spending cuts.
The Office for Budget Responsibility has said that it expects rates to rise next year.
I hope that this hasn't added to much to the confusion

Mickygg

As steady eddide says above interest rates may or may not rise next year.

Graham cat - if you are willing to tie your money up for 1 1/2 years at 3%, have you thought about with Nationwide fixing for 3 years - you can get 4%. Based on this you would need to find an account for the 1 1/2 years after Barnsley matures paying at least 5%, to get a better return than if you plumped for Nationwide.

blueberrypie

boobbby wrote: »

If there is a possibility you may need access to your saving why dont people take out a lloyds /vantage ISA and get 4% gross which is calculated daily and is for saving of between £5000 and £7000. You will then have instant access to your money and not lose any interest if needed. Then just before the end of the tax year take out an ISA using their £5100 allowance.:)

It's a good idea for anyone looking for a home for their 10/11 ISA allowance, but if the money is already in an ISA, they'd have lost their 10/11 allowance by doing what you suggest.

Nick_C

Update needed on page 1 - Nationwide 3 year fix is currently 3.75% (not 4%); still a top rate for 3 years though.

http://www.nationwide.co.uk/savings/cash_isa/fixedrateisabonds/summary/summary-3-year-fixedrateisabond-annual.htm