Cash ISAs: The Best Currently Available List

akh43

The best rates seem to be for the Regular Savings Isa @ 4%. I have the full amount to put in now and want to put all in at the beginning of the year so how do I compare between the lump sum rates and the 4% as I know that the 4% is not actually that much worked out over the year interest wise. Is there a way to calculate/compare?

The other one I have been looking at is the Halifax Fixed rate 3% over 3 years - what would be the difference in interest in the first year for both?

MoneySaverLog

4% on a regular payment will work out at around the same as 2% if the full allowance is paid in at the start.

innovate

Read the drip-feeding section: http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#dripfeed

Reg Saver calc: http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator

Normal savings calc: http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#calc

You might well find that, with the current ISA rates, a combination of Current Accounts (e.g. FlexDirect) and Regular Savers (non-ISA ones) might work better for you than putting your money straight into an ISA. Generally this does not apply if you have the entire allowance available as an upfront lump sum.

DragonQ

MoneySaverLog wrote: »

4% on a regular payment will work out at around the same as 2% if the full allowance is paid in at the start.

That is way too simplistic though - it assumes that the money is not earning interest before being put into the regular savings account. If you're drip feeding from a "good" savings account into a "great" regular savings account, you'll get a nice bonus compared with just using the "good" savings account.

marathonic

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MissyD_2

silvercar wrote: »

Having failed with the Coventry, I have now suceeded in opening a Tesco ISA online. Problem is that I need to transfer funds into it. At this late stage I can only do this by debit card by phone. Currently waited 25 minutes, but "they value my call" and "will answer shortly". Lines shut in 57 minutes.

Failed with Coventry?
for best transfer (without locking away) its Santander 2.5% BEING WITHDRAWN TOMORROW, OPEN ONLINE NOW TO LOCK IN RATE.
https://forums.moneysavingexpert.com/discussion/4535259
You can get transfer form online & delay transfer, although they told me it was best to book an appointment for that 2 weeks before maturity!
I'm booked in for next month!

melbury

This sounds a pretty good rate, but has barely had a mention.

I was about to transfer into this account - before doing so, is there something I should know?

SilverShopper

melbury wrote: »

Leeds Building Society Online ISA
This sounds a pretty good rate, but has barely had a mention.

I was about to transfer into this account - before doing so, is there something I should know?

Can't see anything wrong with this one. I've a non ISA account with the Leeds and the online system works well. With the oddity that it's very easy to get cash out and quite difficult to put substantial money in! Still, ISA transfers won't hit this quirk.

silvercar

MissyD wrote: »

Failed with Coventry?
for best transfer (without locking away) its Santander 2.5% BEING WITHDRAWN TOMORROW, OPEN ONLINE NOW TO LOCK IN RATE.
https://forums.moneysavingexpert.com/discussion/4535259
You can get transfer form online & delay transfer, although they told me it was best to book an appointment for that 2 weeks before maturity!
I'm booked in for next month!

My fail was in my attempt to open a 2012-13 ISA with the Coventry. I thought that as I had funds already in an online Coventry account, I could move them to the Coventry ISA at the last minute. I hadn't read all the small print and thought that answering the question "do you want to open the ISA for this tax year" with a "yes" would open it in the tax year we were in on 5 April.

MissyD_2

silvercar wrote: »

My fail was in my attempt to open a 2012-13 ISA with the Coventry. I thought that as I had funds already in an online Coventry account, I could move them to the Coventry ISA at the last minute. I hadn't read all the small print and thought that answering the question "do you want to open the ISA for this tax year" with a "yes" would open it in the tax year we were in on 5 April.

I actually thought that was a badly worded question too, as I knew it was for new year only but I was opening it on 5th so still last year!:eek:
Have you thought about where your going to transfer your previous ISA(s)