Cash ISAs: The Best Currently Available List

Kazza242

Hi TE,

The maximum character limit on this forum is restricting the amount of information I can enter for each ISA**. I had to move things around a bit to include the extra info. I was going to add some additional info anyway, I was just waiting for things to calm down a bit on the ISAs front. On average, I am currently doing around six separate updates to the list per day.

To be honest, I tend to focus on including as many competitive ISAs on to the list as possible. I can't add too much info for each ISA, otherwise it reduces the number of ISAs I can feature on the list. I figured that savers can click through the links themselves to find out further information on an ISA of interest.

Furthermore, often when launching a new ISA, providers' websites will provide initial information which they then update sometime later. It's not always easy to catch the additional info when providers amend it some weeks after an ISA has launched, especially when there are so many new ISAs being launched every day.

The bonus interest info (with regards to whether the bonuses are variable or fixed) for the Skipton, Principality and Coventry building society ISAs, is vague. Though, even if a bonus is variable, the providers don't tend to reduce the bonus rate paid, as they can lose a lot of money if savers transfer their ISAs out.

** Next year I may make a new thread with individual posts for each ISA section, which will resolve the current problem.

MoneySavingUser

Kazza242 wrote: »

** Next year I may make a new thread with individual posts for each ISA section, which will resolve the current problem.

I was about to suggest that! yes it sounds like a great idea - but next year is a long way away, how about doing it in a few months once most people have done their deposits for this year and things are a bit quieter on the ISA front. Then you could include a link to this topic so people can read back if they like and ask a mod to close this thread.

flergalwit

Kazza242 wrote: »

Hi all,
Nationwide will be launching a new branch-based variable rate ISA on 07/04/2012, called Flexclusive, paying 4.25% on balances of £1+. It is guaranteed to pay 1.50% above BOE base rate until 01/01/2014 and the rate includes a 2.25% fixed bonus until 31/10/2013.

Am I right in thinking the 1.5% + BOE rate is *before* the 2.25% bonus? So while the bonus is going on it would be at least (BOE rate) + 1.5% + 2.25% ?

Or is the 2.25% already included? I couldn't quite deduce this from the terms and conditions. Does anyone know?

Kazza242 wrote: »

To qualify, you must have a Nationwide FlexAccount with a Visa debit card. You need to have paid in at least £750 into your FlexAccount each month for the last three months and you must continue to do so while you have this ISA. Available to new subscriptions only.

My understanding is you have to have *either* paid in £750 for each of the last 3 months and continue doing so *or* switch to this as your current account and only *then* start paying in the £750pm.

Thanks for the list! It's very helpful.

The_Enforcer

flergalwit wrote: »

Am I right in thinking the 1.5% + BOE rate is *before* the 2.25% bonus? So while the bonus is going on it would be at least (BOE rate) + 1.5% + 2.25% ?
Or is the 2.25% already included? I couldn't quite deduce this from the terms and conditions. Does anyone know?

I queried this in the dedicated thread for this ISA. The uncertainty is caused by the rate guarantee referring to the "AER". Although the table shows the "AER" separately from the "bonus", the rate guarantee does not specify that it refers only to the underlying rate.

In your second scenario, in a few months time they could in theory reduce the underlying rate to, say, 0.5%, but still comply with the rate guarantee, because the total rate would still be 2.75%. Once the bonus ends, the underlying rate would have to increase to 2% in order to meet the guarantee for the remainder of the period.

However, I'm afraid I don't know which of those scenarios is correct.

flergalwit

The_Enforcer wrote: »

I queried this in the dedicated thread for this ISA.

Ah thanks; I didn't know there was a thread for this ISA. I'll go look there.

typistretired

1 Year Fixes:


Saga Fixed Rate ISA - 3.60%
Minimum deposit: £1+.
Notes: Fixed for one year from account opening date. Available to over those aged over 50 only.
Thank you Kazza242 for the above information have just opened one very quickly online for my husband and I.

Kazza242

flergalwit wrote: »

Am I right in thinking the 1.5% + BOE rate is *before* the 2.25% bonus? So while the bonus is going on it would be at least (BOE rate) + 1.5% + 2.25% ?

Or is the 2.25% already included? I couldn't quite deduce this from the terms and conditions. Does anyone know?

There are two AER rates included on the webpage for this ISA, 2.00% and 4.25%. My understanding is that the 4.25% rate is made up of BOE base rate (0.5%) + 1.5% + 2.25% (bonus rate). However, Nationwide could have been a bit clearer on this.

I would recommend checking the rate paid each month just to be sure. If the rate does fall before the bonus expires, then you could just request a transfer to another ISA.

flergalwit wrote: »

My understanding is you have to have *either* paid in £750 for each of the last 3 months and continue doing so *or* switch to this as your current account and only *then* start paying in the £750pm.

Thanks for the list! It's very helpful.

Yes, the qualifying conditions required to open the Flexclusive ISA are already featured in the first post on page one.

Kazza242

typistretired wrote: »

1 Year Fixes:


Saga Fixed Rate ISA - 3.60%
Minimum deposit: £1+.
Notes: Fixed for one year from account opening date. Available to those aged over 50 only.

Thank you Kazza242 for the above information have just opened one very quickly online for my husband and I.

Excellent, I'm pleased that the info was helpful. 3.60% is a really good rate for a 1 year fixed rate ISA, especially as the minimum opening deposit is only £1.

typistretired

Kazza242 wrote: »

Excellent, I'm pleased that the info was helpful. 3.60% is a really good rate for a 1 year fixed rate ISA, especially as the minimum opening deposit is only £1.

If you hadn't put it on this site I wouldn't have known about it. None of the money papers or sites seem to be mentioning. Okay you need to be over 50, but some they mention have conditions too. Don't understand why!!!!


:beer:

punch62

Great info!
Do you any details of cash isa's paying interest monthly?

Thanks!