Cash ISAs: The Best Currently Available List

le_loup

easilyconfused wrote: »

On enquiring, she was told that she couldn't add funds because it was a fixed rate ISA (even though she was told she could and had done so in July!)

Fixed rate accounts are available for extra deposits until the offer is closed. No fixed rate account are open forever.

Kazza242

The first post of this thread has been updated.

Barnsley Building Society have launched a one year online fixed rate ISA, paying 3.00% on balances of £100 and above. The rate is fixed until 31/12/2011. It now tops the list of the one year fixed rate ISAs on the first page.

Wesleyan Bank now offer a range of new fixed rate ISAs. The one, three, four and five year offerings have been added to the list. They pay 2.75%, 3.50%, 3.75% and 4.00% respectively.

United Trust Bank's new three year fixed ISA paying 4.00% has also been added. They accept transfers in only. Three year fixed rate ISAs from Chelsea Building Society and Principality Building Society have been added to the list. They each pay rates of 3.40% respectively.

Added to the variable rates section is the National Savings and Investments (NS&I) Direct ISA, paying 2.50%. The rate does not include a bonus. Aldermore have withdrawn their one year fixed rate ISA paying 3.00% and have replaced it with a 2.80% offering.

LongTermLurker

easilyconfused wrote: »

Am I right in assuming she can now open a new ISA with another provider to use up the rest of this year's allowance, even though the A&L ISA runs until next year? No doubt she would be penalized if she transferred out of A&L before the end of the fixed term.

Any advice would be welcome.

No, she would be subscribing to two cash ISAs in the same tax year, and that's not allowed. When applying for the second, whe would have to declare "I have not and will not subscribe to another cash ISA within this tax year" or words to that effect.

edda

I'm looking for a home for a fixed rate ISA that matures shortly. M&S are re-launching their fixed ISAs on Monday 18th Oct.

1 year = 3%
2 years = 3.2%
3 years = 3.5%

Not the very best rates, but you can have access to your money (with a penalty) and they will accept transfers in.

The person I spoke to on the phone was v. helpful and I've registered my interest. Info will be sent out at the end of the week (presumably planned to arrive next Monday).

Milarky

https://www.emoneyfacts.co.uk/news/news-search.aspx?newsarticleid=200398


https://www.emoneyfacts.co.uk/news/news-search.aspx?newsarticleid=200085

..From Dunfermline and Derbyshire (Nationwide Brands)

The twist seems to be the ability to part fund now (say £100 subscription) and be able to top up to the annual limit right up until April next year - if that still remains the best option for 2010/2011. Here's the wording from the Dunfermline page:

Additional deposits only whilst account remains open, subject to maximum subscription under the ISA regulations. However, if this is your only Cash ISA for the current tax year 2010/2011, and you have not used your full ISA allowance, we will allow you to top up to the full subscription limit, even when the product becomes a closed issue, providing you have invested the minimum amount.

Quite a good offer really

fullstop

Not sure if the new Skipton BS rates have been posted, but they are offering a 1 year fixed until 29th November 2011 at 2.95% for any amount between £50 and £49,999 , 3.10% for any amounts over that.

They accept transfers , and also offer other rates for 2, 3, 4 and 5 years.

http://www.skipton.co.uk

Nessie23

Milarky wrote: »

4.15% to 31.01.15 (4yr) with 'twist'

..From Dunfermline and Derbyshire (Nationwide Brands)
Quite a good offer really

I must admit I don't quite understand Nationwide's ISA interest rate policy :huh:. Their own products offer less interest, the 5 year fixed rate ISA only gives 4%.

I have tried thinking of a logical explanation, but can't seem to find one.

All that comes to mind is Harry Truman's quote "If you can't convince them, confuse them."

MarkyMarkD

It's quite obvious, really.

Nationwide offers generally less good value products than its other trading names, precisely because it benefits from excessive popularity with investors because of its perceived strength. Also it can attract new to Nationwide group customers via its more obscure brands, without encouraging existing "traditional" Nationwide customers to switch to the higher rates.

steady__eddie

Can anyone help me with the Derbyshire and Dunfermline 4.15% ers please ?
Is it possible to simply transfer an existing ISA into them or do I need to open one for this year with them before I can transfer an existing one in ? (not an option for me has I am already fully subscribed for this year). I've read their T + Cs but I can't find an answer.
My mobile has gone on a walkabout so I can't ring them currently and I figured that I'd get a quicker response on here than e-mailing them.

Milarky

steady__eddie wrote: »

Is it possible to simply transfer an existing ISA into them or do I need to open one for this year with them before I can transfer an existing one in ? (not an option for me has I am already fully subscribed for this year). I've read their T + Cs but I can't find an answer.

You can transfer in - that's clear enough:

Transfers of previous ISA subscriptions from other institutions are accepted

If you specially wanted to transfer this year's cash ISA (already subscribed) - an 'in-year' transfer - this ought to be possible - if only because current year should not be any more restrictive than previous years.

But the wording they use:

if this is your only Cash ISA for the current tax year 2010/2011

does seem to dis-qualify an in-year transfer of this kind because this new account is not then "your only" 2010/2011 ISA, is it?

(But that wasn't what you actually said you wanted to do was it?)

To sum up: You don't need to 'pre-open' and are not required to use your 2010/2011 ISA allowance to fund this account. You may 'open-by-transfer' of previous years subscriptions from any single or any combination of ISA providers - only subject to the issue remaining open in the meantime.

I would say you just need to check with them if any application for transfer made whilst the issue is open will always be honoured- even where the funds have yet to arrive on the date they close the issue.