Cash ISAs: The Best Currently Available List

TechieByNature

I was aware that I only pay the 40% on anything I earn above the 20% amount. I have a company car so my starting allowance is down to around 6k; my wage is now 37k . I then have a bonus which is paid every quarter but the amount varies, but another 1-2k is not an unreasonable minimum figure. So I will be effectively paying 40% on any interest from whichever account I choose as my 0% and 20% allocations will already be used up by the money earned from my employer.

innovate

Sounds you are still very close to the basic rate tax band, and could quite easily avoid higher rate tax by increasing your pensions contributions. Only you know what's right for you - pay more tax and have a bit more cash in reach short term, or pay less tax now and build up your retirement funds. Or may be something in the middle?

TechieByNature

I have a pension policy from a job I held for a couple of years before I started at university, so it's definitely on the cards to get one sorted at this place. I'm not currently paying anything as the most pressing thing for me was clearing my student overdraft as my only outstanding finance that wasn't my loan; but now that's done, a solid financial future is important - in whatever shape that crosses the most-profitable/reasonable-effort chart.

I've not looked into pensions seriously before (but I hadn't looked into ISAs either until last week) so I'm trying to take one thing at a time and get each thing sorted before moving on to the next.

innovate

Does your employer offer a work place pension? If so, you would almost certainly be b*nkers not to jump on it because both, your employer and HMRC contribute to your pension fund.

TechieByNature

Yes, they do. The Government's mandatory automatic enrolment implementation is happening in November but I need to email my HR department and get everything set up before then preferably. But I still want to get all my research done rather than just filling in a form, as I have questions about pensions and I like to understand how things are working as much as possible, even if I don't really have a choice in provider or policy.

samuela66

I feel like I am going around in circles looking at where to put my savings, I realise they are all pretty terrible at present, my Post Office savings account with about 58k has just ended, and my post office ISA with about 12k in it is about to end..............can anybody please advise me, give me a tip anything, I've searched and can see nothing decent.
I wont desperately need the cash (as far as I know)

many thanks peeps, plus I am a non tax payer!

thanks
sam

Froggitt

There is nothing decent. All the 3% fixed went a couple of months ago. You'll be lucky to get 2.5% tied up for a number of years.

innovate

3% (on £40K plus) instant access ISA at First Direct ain't bad in the current climate?

The rest can go into a 123 and Lloyds/Bos Vantage accounts. With an R85, you can get 3% there too, for your non-ISA money.

edit: ah sorry, it's the other way round, so the FD ISA is not much use....but the £58K can still be split up as per above

doug63

I haven't seen Metro Bank mentioned in Martin's list of Top ISAS; however I checked today and they have 2% Instant Access with transfers in. It was 2.35% before February. Minimum deposit is £1. For a 1 year fixed ISA interest is 2.25%. Don't know why it isn't mentioned as it is better than the supposed top ISA, Tesco, which doesn't allow transfers.

rb10

Kazza242 wrote: »

[*]NatWest e-ISA - 2.25%
Rate guarantee? No. Rate effective from: 18/05/2012.
Minimum deposit: £30,000+ (to qualify for the higher rate). Operated via: Internet.
Notes: 2.00% is paid on balances totalling £10,000 - £29,999 and 1.75% on £1 - £9,999.
RBS also offer an e-ISA with similar terms, see here.

The Natwest and RBS e-ISAs have been withdrawn.