Cash ISAs: The Best Currently Available List

The_Enforcer

Nottingham Building Society have advised me that they will be launching a new regular saver ISA for 13/14 at 4%, with maximum payments of £480/month. I presume it will start on 5th April when the current one (5%) matures and I guess it will be called 'Starter ISA Issue 3'.

innovate

The_Enforcer wrote: »

Nottingham Building Society have advised me that they will be launching a new regular saver ISA for 13/14 at 4%, with maximum payments of £480/month. I presume it will start on 5th April when the current one (5%) matures and I guess it will be called 'Starter ISA Issue 3'.

This could be a very good alternative (for those having £5,760 to deposit in April) if you can drip-feed from, say, a 3% current account. Probably better than the Santander 2-year fix @ 3%, and definitely better than any instant access ISA.
Dripfeed calculator: http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#savingscalc (use "No Tax", and net-after-tax interest rate for the feeder account).

bxboards

The_Enforcer wrote: »

Nottingham Building Society have advised me that they will be launching a new regular saver ISA for 13/14 at 4%, with maximum payments of £480/month. I presume it will start on 5th April when the current one (5%) matures and I guess it will be called 'Starter ISA Issue 3'.

That doesn't seem much good to me - that would only work out around 2% averaging over the year, and you can certainly beat 2.5% shopping around.

Stompa

bxboards wrote: »

That doesn't seem much good to me - that would only work out around 2% averaging over the year.

But if you include the interest earned on the feeder account, it would be more.

Kazza242

Hi everyone.

The first post of this thread has been updated.

The Cheshire building Society ISA Saver (issue 1) paying 2.50% has been withdrawn and replaced with issue 2, paying 2.30%.

The Cheshire have also launched a new range of fixed rate ISAs. The two year fixed rate ISA pays 2.50% and is available to new and existing customers.

Furthermore, they have launched a three year and four year fixed ISA, paying 2.80% and 3.00% respectively. Both ISAs are only available to customers with maturing Cheshire building society ISAs.

Nationwide have launched a new range of fixed rate ISAs. Their two year fixed rate ISA pays 2.50% and is available to new and existing customers. They have also launched two new fixed rate ISAs, which are available to customers with a maturing Nationwide ISA only. They are the 30 Month fixed rate ISA and four year fixed rate ISA, paying 2.80% and 3.00% respectively.

Derbyshire building society have launched issue 66 of their two year fixed rate ISA, paying 2.50% until 30/04/2015. Dunfermline building society have launched a fixed rate ISA (issue 57) with similar terms.

acer99

I just called the Marsden about this product (as I cannot navigate to it through their website) and I was informed that this product has been withdrawn.

innovate

bxboards wrote: »

That doesn't seem much good to me - that would only work out around 2% averaging over the year, and you can certainly beat 2.5% shopping around.

Assume:

• you have £5,760 available now
• you can get 3% AER on it in a current account (2.4% after basic rate tax)

You will get £188 interest after 12 months if you dripfeed the 4% ISA. Only @124 of the interest will be paid into the ISA, bringing your ISA balance to £5,884. The other £64 net interest goes into your current account.

If you put your £5,760 as a lumpsum straight into a 2.5% ISA, you get £144 in interest after 12 months, bringing your ISA balance to £5,904. You will notice this is £20 higher than in the other option and would be compounded over the years in the 2.5% ISA option. However, it would take about 33 years at 2.5% AER to make £44 compounded interest from £20.

Net gain from dripfeeding the Reg Saver ISA is £44. This may not sound a lot, but I would definitely take it if I didn't still have my 4.25% Flexclusive ISA for a few months.


If you can find a feeder account that pays more interest (e.g. £2,500 in a 5% AER FlexDirect), you can make even more.

If you dripfeed from a non-interest bearing account, obviously the 4% ISA beats the 2.5% one hands down, anwyay.

dragilex

According to the Santander website the "Santander Direct ISA Saver (issue 1) - 2.50%" ISA can be managed online as well. Vital info missing from post 1 list.

boobbby

dragilex wrote: »

According to the Santander website the "Santander Direct ISA Saver (issue 1) - 2.50%" ISA can be managed online as well. Vital info missing from post 1 list.

We was in a Santander bank today as we wanted to do an internal transfer of previous Santander cash ISA's. External transfers and opening a Direct ISA can be done online.

innovate

You can download the forms for external (and for internal) transfers into Santander ISAs from the web but you cannot do the transfers online.