Cash ISAs: The Best Currently Available List

KTF

Assuming you have £5000 in an existing ISA on a poor rate and assuming you open a 13/14 ISA that allows transfers and add no new money then yes.

After doing the above you can open a second ISA (i.e. one that pays more but is for new money only) and this years allowance into that.

wattc wrote: »

So I could have two ISA bank accounts and only one would count towards 2013/2104 total of £5,760, even if both opened in new 2013.2014 tax year?

Yes, you can open as many ISA in a tax year as you like but only pay 'new money' into one. The other ISA you open can be used for transfer/consolidation of existing ISA.

Kazza242

Hi Everyone.

I've added some new ISAs to the list:

The Bank of East Asia (UK Branch) is offering a variable rate cash ISA, paying 3.00% on balances of £40,000+. 2.75% is paid on balances totalling £25,001 - £40,000, 2.30% on £15,001 - £25,000 and 2.10% on £10 - £15,000. The ISA must be opened and operated in branch only. The Bank of East Asia's UK based branches are authorised and regulated by the Financial Services Authority, see here.

Leeds Building Society will be launching two new ISAs from 06/04/2013. They are the variable rate Online Bonus ISA, paying 2.55% on balances of £1+. It accepts transfers in and the rate includes a bonus of 1.25% until 30/04/2014.

The other ISA they will be launching (on 06/04/2013) is a one year fixed rate ISA (issue 46), paying 2.45%. It also accepts transfers in.

Aldermore will be launching a new range of ISAs on 06/04/2013. Their new one year fixed rate ISA pays 2.25% and three year fix 2.50%.

Nationwide now offer issue 3 of their Web ISA, paying 2.25% on balances of £10,000+.

Added to the list earlier this week were the ISAs from Coventry Building Society. Their Poppy Cash ISA, pays 2.50% on balances of £1+. It does not accept transfers in. However, existing Coventry Building Society customers who held a Cash ISA with them (by close of business on 04/02/2013) are eligible to apply for ISA Reward. This ISA accepts transfers in any pays a rate of 2.50% on balances of £1+.

All new ISAs have been added to the first post of this thread.

wattc

KTF wrote: »

Assuming you have £5000 in an existing ISA on a poor rate and assuming you open a 13/14 ISA that allows transfers and add no new money then yes.

After doing the above you can open a second ISA (i.e. one that pays more but is for new money only) and this years allowance into that.

Yes, you can open as many ISA in a tax year as you like but only pay 'new money' into one. The other ISA you open can be used for transfer/consolidation of existing ISA.

Many thanks KTF, your replies have cleared up a whole lots of things I wasn't sure about!

typistretired

Well done Kazza242 on the ball as usual! Did you get an email from savings champion about the Leeds isas. Just went into my email account and saw savingschampion email with news of Leeds 2 isas. Lets hope the other banks and building societies tell us quickly about their rates for 2013-2014.

Kazza242

Nationwide will be launching two new ISAs from 06/04/2013. They are issue 3 of their Flexclusive ISA on 06/04/2013. It pays 2.50% on balances of £1+. To be eligible you must be a Nationwide FlexAccount, FlexDirect or FlexPlus current account customer, who has paid in at least £750 into your current account for the last three months (excludes internal transfers). The rate includes a 1.00% bonus payable until 30/11/2014.

They will also be launching Easy Saver ISA (issue 1), paying 2.25% on balances of £1+. The rate includes a 1.75% per bonus until 31/10/2014. This ISA does not require a Nationwide current account.

Both ISAs have been added to the first post of this thread.

Kazza242

typistretired wrote: »

Well done Kazza242 on the ball as usual! Did you get an email from savings champion about the Leeds isas. Just went into my email account and saw savingschampion email with news of Leeds 2 isas. Lets hope the other banks and building societies tell us quickly about their rates for 2013-2014.

Thanks. Yes, I did get an e-mail from them.

Kazza242

Cheshire Building Society will be launching issue 3 of their ISA Saver, paying 2.30% on balances of £1,000+. The rate includes a 1.80% bonus until 30/10/2014. It accepts transfers in of ISAs from previous tax years.

It has been added to the first post of this thread.

jonmcclelland

Kazza242 wrote: »

Cheshire Building Society will be launching issue 3 of their ISA Saver, paying 2.30% on balances of £1,000+. The rate includes a 1.80% bonus until 30/10/2014. It accepts transfers in of ISAs from previous tax years.

It has been added to the first post of this thread.

What's the difference between this and issue 2? Rate and bonus and time are exactly the same!

MissyD_2

I have learnt a lot over the years when it comes to money, savings, interest rates and ISA's etc, but I still can't get my head round this..... (example from 1st page - thanks Kazza)
http://www.coventrybuildingsociety.co.uk/savings-and-investments/cash-isas/cash-isa/Cash-ISA.aspx?tab=1
Which boasts -
"Our new Poppy ISA gives you a highly competitive variable rate of 2.50% tax-free^ p.a./AER* and the Society makes a donation to the Poppy Appeal based on monthly Poppy ISA balances~
This ISA is for the 2013/14 tax year and includes 0.50% first year bonus"
Question - I thought a variable rate meant it would change.....but also says "In addition we guarantee that the AER* will be at least equal to 2.50% until 5 April 2014"
So is that not fixed for 12 months for arguments sake as I tend to open on 6th...????
I always thought a variable APR meant it could change open up or down, over the period you have the account and whenever they want through out the period (with/without notice)???
Once again really sorry for the dumb question and am certainly not knocking Kazza's work in anyway, it's just the rates are so crap at the moment that these "variable" rates seem to best available for someone who can't commit?

innovate

MissyD wrote: »

So is that not fixed for 12 months for arguments sake as I tend to open on 6th...????

yes of course it is if you open on April 5. But it's not not if you open later.