Cash ISAs: The Best Currently Available List

Kazza242

the_gooner wrote: »

Hi

I'm currently looking at moving my ISA from HSBC (currently 5.00% AER) into another, more profitable one.

Could someone please tell me what the benefits are of having interest paid annualy as against being paid monthly?

Many Thanks

There aren't really any benefits to be had by having your interest paid annually. More ISAs pay interest annually, but some do pay monthly interest only and others allow it to be paid annually or monthly. The advantage of monthly interest, is that you can see it build up more frequently. Some say this encourages them to save. Personally I don't mind if my interest is paid annually or monthly. When comparing account rates I just check the AER.

As your ISA only pays 5.00% I would definitely transfer* it to another provider paying a higher rate.

*Do allow the provider you are transferring to to handle the transfer for you. Don't withdraw the money yourself or it will lose it's tax-free status.

typeractive

A little while back I was looking to open a new ISA account (add money to my exisiting ISA).

I'm looking to invest 3k straight up. I have an ISA with NS&I, though I bank with Barclays. I'm sure Martyn stated that Barclays were a good rate. Though I have just looked on the site and they only offer 4.96% in comparison to NS&I at 6.05%....perhaps Barclays was a introductory/marketing ploy?

Just to quickly confirm, I'm best throwing my money in with NS&I right? :S

Thanks all!

Lazy_Runner

typeractive wrote: »

A little while back I was looking to open a new ISA account (add money to my exisiting ISA).

I'm looking to invest 3k straight up. I have an ISA with NS&I, though I bank with Barclays. I'm sure Martyn stated that Barclays were a good rate. Though I have just looked on the site and they only offer 4.96% in comparison to NS&I at 6.05%....perhaps Barclays was a introductory/marketing ploy?

Just to quickly confirm, I'm best throwing my money in with NS&I right? :S

Thanks all!

Barclays did have a very high rate ISA, but it was massively oversubscribed, so they withdrew it. There are discussion topics on this board related to the Barclays deal.

Martin is currently recommending the Egg ISA.

Have a look here:
http://www.moneysavingexpert.com/savings/best-cash-isa#best1

Tunstallstoven

Hello

I am looking for an ISA to transfer existing funds of around £9k, as well as add further funds this year. I'm not too keen on the Kent account as it is postal only. I wondered if anyone could share an opinion on the Nationwide ISAs which give an interest of 5.85% abd 6.05% and DO allow transfer ins from what I can see. They are not mentioned on the Website so I wondered if there is anything I should be weary of?

Cheers

Max

Kazza242

typeractive wrote: »

A little while back I was looking to open a new ISA account (add money to my exisiting ISA).

I'm looking to invest 3k straight up. I have an ISA with NS&I, though I bank with Barclays. I'm sure Martyn stated that Barclays were a good rate. Though I have just looked on the site and they only offer 4.96% in comparison to NS&I at 6.05%....perhaps Barclays was a introductory/marketing ploy?

Just to quickly confirm, I'm best throwing my money in with NS&I right? :S

Thanks all!

Yes, I think the NS&I ISA is definitely your best option for the following reasons:

- You are already an existing customer so do not have to wait for the ISA to be setup before you can transfer funds.

- The NS&I ISA has a rate guarantee that it will pay BOE base rate + 0.55% until April 5th 2008. As many economists expect the BOE base rate to be increased to 5.75% this week, your NS&I ISA will be paying 6.30%. Where as Egg do not have to increase or maintain their rate as they do not have a rate guarantee.

Kazza242

Max_Dread wrote: »

I am looking for an ISA to transfer existing funds of around £9k, as well as add further funds this year. I'm not too keen on the Kent account as it is postal only. I wondered if anyone could share an opinion on the Nationwide ISAs which give an interest of 5.85% abd 6.05% and DO allow transfer ins from what I can see. They are not mentioned on the Website so I wondered if there is anything I should be weary of?

Nationwide ISAs have been discussed in this thread. There seems to be some delay in them handling their side of a transfer in. However, as we are now in July things may have calmed down and they may be handling transfers in more efficiently.

Don't forget that it is likely that BOE base rate will be increased again this week to 5.75%. So it may be best to hang on a little while longer.

Kazza242

Bump. As my thread has been unstickied from this morning...

foolsgold99

I've just gone for an NS&I ISA, I hope that was the best option???

Kazza242

foolsgold99 wrote: »

I've just gone for an NS&I ISA, I hope that was the best option???

Yes, it is, because of it's rate guarantee. Though in April 2008 I'd recommend checking the NS&I rate, as the guarantee to pay BOE base rate + 0.55% expires April 5th 2008.

pbw

i just opened an ING ISA today. what do you guys think of this ISA? i opened it with the view of having the guaranteed 6.55% for 6 months and then transferring out in 6 months with the hope of higher rates elsewhere with all these rate increases...

any opinions?