Cash ISAs: The Best Currently Available List

purplestar133

kalsha wrote: »

So you have opened the virgin one when you are not a existing customer? Did you open it online? I am thinking of doing it tomorrow. I have been thinking about it for over a week but was waiting for someone to say they were successful. I will have a go tomorrow.

Yes, I did it online using the link kindly quoted earlier on in the thread. I'm not the first to have reported being successful - KTF, anna42hmr, dosh37 have all posted about it.

kalsha

Thanks Purplestar. Just opened one online. Went through fine. Thank you for all your help.

sly_dog_jonah

Will be interesting to see how the NISA changes coming July 1st will shake up the Cash ISA market. I've a chunky 5% 5yr fix expiring July 31st so will be very interested in how the market responds to this.

Will we see improvements to rates, as the banks are able to reduce overheads of raising capital (fewer customers needed)?

Will there be greater flight of capital from Cash ISAs to S&S's (and back again?), thus encouraging better competition on rates to retain capital?

Will we see more top paying accounts allowing transfers in, now that they can come from S&S ISAs and because the £15k limit makes the 'no transfers in' rule more of a moot point since people can earn nearly 3x interest than currently with new subscriptions only?

purplestar133

sly_dog_jonah wrote: »

Will be interesting to see how the NISA changes coming July 1st will shake up the Cash ISA market. I've a chunky 5% 5yr fix expiring July 31st so will be very interested in how the market responds to this.

Will we see improvements to rates, as the banks are able to reduce overheads of raising capital (fewer customers needed)?

Will there be greater flight of capital from Cash ISAs to S&S's (and back again?), thus encouraging better competition on rates to retain capital?

Will we see more top paying accounts allowing transfers in, now that they can come from S&S ISAs and because the £15k limit makes the 'no transfers in' rule more of a moot point since people can earn nearly 3x interest than currently with new subscriptions only?

I wonder whether the fixed rate ISAs will allow further deposits for a short time after the max allowance is increased in July, or whether they'll offer a range of new accounts for those looking to deposit more. Or whether neither of those things will happen!

Voiren

Skipton have announced they're allowing a second deposit on fixed rate in July: http://www.skipton.co.uk/savings_and_investments/isas/nisa/

liver-bird

Has the Newcastle Regular Saver ISA (3.02%) being withdrawn already? I know it says new on p1 but I can't find it on their site now.

Hoping there might be some others by April - though probably nothing great - for new money - like Saffron again.

Though also need to move on last year's fixed ones. The joys of low interest rates....:(

hgt

liver-bird wrote: »

Has the Newcastle Regular Saver ISA (3.02%) being withdrawn already? I know it says new on p1 but I can't find it on their site now.

Hoping there might be some others by April - though probably nothing great - for new money - like Saffron again.

Though also need to move on last year's fixed ones. The joys of low interest rates....:(

Looks to still be available here (2% + 1% bonus) - http://www.newcastle.co.uk/savings/big-home-saver.aspx

marathonic

hgt wrote: »

Looks to still be available here (2% + 1% bonus) - http://www.newcastle.co.uk/savings/big-home-saver.aspx

Just to add, the T&C's refer to an initial funding requirement which I was concerned would mean it wouldn't suit a lot of us people that are already contributing to a Cash ISA this year.

However, I've just opened an account and just closed the internet browser at the initial funding screen.

I've received an automated email saying "If you don’t want to set up a regular monthly payment and you did not make an initial payment during your application then you will need to make your initial deposit by bank transfer within 20 days of submitting your application. This can be completed using the details below."

Therefore, it can be opened now and funded in the new tax year.

The beauty about this regular saver when compared to my previous Principality Regular Savings ISA at 3% is that there is no end time on this, whilst Principalitys matured after 1 year.

Of course, the 2% portion is variable so could be changed at any time. The 1% bonus is in the T&C's so cannot be removed and, in theory, is the absolute lowest that this product could pay.

Archi_Bald

And here goes my broken record again....... I fail to see what the mad rush is to get 2014-15 money into cash ISAs before April 5 2015, given that most people will be able to get better interest in current accounts

marathonic

Archi_Bald wrote: »

And here goes my broken record again....... I fail to see what the mad rush is to get 2014-15 money into cash ISAs before April 5 2015, given that most people will be able to get better interest in current accounts

I'm sure that this wasn't in direct response to the Newcastle Regular Saver posts above given that it pays 3%.

The 3% is the same as 3.75% in a current account for a lower-rate tax payer and 5% for a higher rate tax payer.

Therefore, I don't think any current accounts beat it for a higher rate tax payer.

There are some that will beat it for a lower rate tax payer but they have low limits in what you can put in them and, if you put the funds in the current account for the year and withdraw to put in a cash ISA, it's unlikely that you'll be able to put the whole lot in a Cash ISA paying 3%.

The above assumes that the rate stays the same in the Current Accounts and in the Newcastle ISA.