Cash ISAs: The Best Currently Available List

Kazza242

raemon - there are quite a number of branch-based ISAs available - some of which do pay competitive rates, though perhaps not as high as online ISA rates.

Have a look at the first post in this thread. It features an 'Operated via:' field so look out for those that can be operated via the 'branch'. Many ISAs have different minimum opening deposit amounts so some of them, though branch-based, may not be yet available to you. Check out the 'Minimum deposit' field.

Also check out Moneyfacts' ISA search facility which allows you to enter details that match your circumstances.

billytruffin

Would I best right in thinking, if I want to just pay £3000 in straight away, and not withdraw it the NS&I Isa would be the best option?

Kazza242

jamesw2000 wrote: »

Would I best right in thinking, if I want to just pay £3000 in straight away, and not withdraw it the NS&I Isa would be the best option?

Yes, I agree that NS&I would be the best option especially as it guarantees to pay BOE base rate + 0.55% until April 5th 2008.

raemon

raemon - there are quite a number of branch-based ISAs available - some of which do pay competitive rates, though perhaps not as high as online ISA rates.

Have a look at the first post in this thread. It features an 'Operated via:' field so look out for those that can be operated via the 'branch'. Many ISAs have different minimum opening deposit amounts so some of them, though branch-based, may not be yet available to you. Check out the 'Minimum deposit' field.

Also check out Moneyfacts' ISA search facility which allows you to enter details that match your circumstances.

thanks kazza

raemon

thanks for that site kazza it has helped alot,

does anybody know what a compounded interest means and what is the best form of interest for a isa monthly or yearly??

i got this search from this great site that kazza advised,

http://www.moneyfacts.co.uk/searches/savingsresults.aspx?age=23&noFixedTerm=0&accounttype=3&investment=3000&pageid=7&monthlyInterest=1&currency=GBP&noticedays=7&instantaccess=0

i'm thinking to go for the nationwide or natwest isa's wot do u guys think?? any hidden rules i should be aware of??.. oh, i'm going for these because they are oppereated by branch.

thanks for anyhelp.

Kazza242

raemon wrote: »

thanks for that site kazza it has helped alot,

does anybody know what a compounded interest means and what is the best form of interest for a isa monthly or yearly??

Compound interest is when you allow your money to earn interest on the interest. For example, you deposit £3,000 into an ISA without withdrawing any money. After year 1, £3K in a 6% ISA would earn £180 in interest. In Year 2, assuming the ISA rate remains at 6%, you earn interest on £3180 not just on £3,000 this is because it benefits from compounding.

Monthly or yearly interest comes down to personal preference. I don't really think that one is better than the other. If you wish to compare two different ISAs, one paying monthly interest and the other yearly, compare the AER. The one with the highest AER pays the highest interest if the money is left in the account for one year.

raemon wrote: »

http://www.moneyfacts.co.uk/searches/savingsresults.aspx?age=23&noFixedTerm=0&accounttype=3&investment=3000&pageid=7&monthlyInterest=1&currency=GBP&noticedays=7&instantaccess=0

i'm thinking to go for the nationwide or natwest isa's wot do u guys think?? any hidden rules i should be aware of??.. oh, i'm going for these because they are oppereated by branch.

Nationwide's fixed rate ISA pays a decent rate. However, if you think you're going to need to make withdrawals or need access to the money then I don't think a fixed term ISA is the best option. If you need to withdraw funds or access it there is usually a penalty. This ISA levies a charge of 90 days' loss of interest if the ISA if money is withdrawn before maturity.

The Natwest ISA, paying 5.25% (balances £1 - £15k) doesn't have any penalties. I expect that the rate might rise to 5.50% from June 1st following this month's BOE base rate increase. This looks like a good option for a branch ISA.

raemon

thanks alot kazza, that has really really helped and now i understand what compounding is.. i think i will be at natwest tomorrow to open my first part of my financial fountain.

raemon

hello everybody,

i went to natwest yeaterday to open my isa, and basically the man there asked if i have a current natwest account, i answered "no" and he then said i have to open a first reserve with it so that if i go over the limit of 3000 for a tax year the excess will automatically go into that account??

i just want to know is this a right move to make?? i asked him if i can just open the isa he said no i have to open it with this account for that reason!!

by the way i asked about the interest rate of the first reserve account and he said its something like 1.?? per cent?

wot do u think guys?? do you think i should still go ahead??

thanks

mleonard79

Hi Everyone,

Ok so now the new rates from the BOE rise have filtered through I'm trying to decide where my brother should transfer to. It looks like Kent Reliance is his best bet for the best rate but they don't have a rate guarantee - are they normally pretty good at passing on rate increases? The only other option I can see is going for the Abbey 5.75% rate as it does have a guarantee but it is a little lower. Thanks for any advice.

Regards

Michelle

gelato_cat

I wouldn't, it sounds like he's spinning you a line. You can put in £3k a year but the interest will push it above that and most accounts will let you leave it in there, not make you siphon it off. Methinks he is after extra commission.

What are the reasons you have chosen NatWest? Do they have a good interest rate? Personally I'd recommend NS&I or Egg. But if you're hell bent on NatWest, then I'd try opening it online or with a different bank employee.

Suze

raemon wrote: »

hello everybody,

i went to natwest yeaterday to open my isa, and basically the man there asked if i have a current natwest account, i answered "no" and he then said i have to open a first reserve with it so that if i go over the limit of 3000 for a tax year the excess will automatically go into that account??

i just want to know is this a right move to make?? i asked him if i can just open the isa he said no i have to open it with this account for that reason!!

by the way i asked about the interest rate of the first reserve account and he said its something like 1.?? per cent?

wot do u think guys?? do you think i should still go ahead??

thanks