Cash ISAs: The Best Currently Available List

whoschuffed

What would be the best £15,000 ISA to open if I wanted to move in a few lump sums in within the next 6 months when other savings/ISA's mature?

Will be wanting to make monthly deposits aswell?

sly_dog_jonah

danielrostron wrote: »

What would be the best £15,000 ISA to open if I wanted to move in a few lump sums in within the next 6 months when other savings/ISA's mature?

Will be wanting to make monthly deposits aswell?

All 2014/15 ISAs will allow you to deposit up to £15k, but until July 1st (when they become NISAs) you will only be able to deposit £5940.

Some fixed rate ISAs will allow you to make a deposit now, and another in July. If you want to make monthly contributions though a fixed rate NISA probably isn't suitable for this year's subscriptions. Instead you'll be looking at a variable or regular saver ISA.

If you choose to subscribe to an ISA that allows transfers in, then you can simply transfer over existing ISAs when they mature. If it doesn't allow transfers in, then you can open a separate ISA (or ISAs) so long as you don't subscribe (make any deposits) and ONLY transfer in.

Based on the above you should be able to select the best products from page 1, depending on your preference for fixed/variable rates for your transfers.

The above assumes you aren't depositing anything in a stocks & shares ISA, otherwise your deposit limits are reduced by whatever you deposit in the S&S ISA.

More info: http://www.hmrc.gov.uk/isa/new-isa-faq.pdf

dave2661lfc

Could anybody enlighten me as to why Martin Lewis never mentions the Newcastle BS Big Home Saver ISA. This gives 2.02% standard but then gives a 1% bonus if you put at least £1 in each month. It is easy access and this rate seems to beat all other ISAs unless you want to lock in to another for five years.
It has also been available online since 6 March. Moneysupermarket say not online and has postal code restrictions which is not true. The only downside to me appears to be max £500 in each month.

I'm confused can anybody shed any light why it is constantly overlooked and he appears to focus on ISAs giving only 1.6% (again on This Morning today).

No I don't work for Newcastle, just looking for the best deal.

Thanks

DragonQ

dave2661lfc wrote: »

Could anybody enlighten me as to why Martin Lewis never mentions the Newcastle BS Big Home Saver ISA. This gives 2.02% standard but then gives a 1% bonus if you put at least £1 in each month. It is easy access and this rate seems to beat all other ISAs unless you want to lock in to another for five years.
It has also been available online since 6 March. Moneysupermarket say not online and has postal code restrictions which is not true. The only downside to me appears to be max £500 in each month.

I'm confused can anybody shed any light why it is constantly overlooked and he appears to focus on ISAs giving only 1.6% (again on This Morning today).

No I don't work for Newcastle, just looking for the best deal.

Thanks

Well it's a regular saver. Works fine if you're drip feeding it from decent interest paying current accounts but otherwise the rate will be just as low as those 1.6% accounts.

bugbyte_2

Sorry to bring bad news. Virgin's 5 yr fix issue 67 @3% along with their other offerings appear to have been pulled.

boobbby

Why would anybody put money into an ISA at this time of year when you can get 5% in a TSB current account. Its instant access and the money can be used at a later date to fund an ISA.

Special_Saver2

There are some new 4% regular saver accounts available for existing members for Saffron BS and locals for Nottingham BS.

Thanks to adindas, Careful_ly and alanq for pointing these out.

Saffron BS thread: https://forums.moneysavingexpert.com/discussion/4942009

Nottingham BS thread: https://forums.moneysavingexpert.com/discussion/4939292

SS2

AndyPK

boobbby wrote: »

Why would anybody put money into an ISA at this time of year when you can get 5% in a TSB current account. Its instant access and the money can be used at a later date to fund an ISA.

It's only on £2k though. How many accounts are you allowed?


I've been away from the forums for a couple of months and notice there have been changes to these high rate current accounts.

Ie that one and significant changes at Lloyds.

innovate

AndyPK wrote: »

It's only on £2k though. How many accounts are you allowed?

Two. But it's not the only 5% non-ISA account, as has been discussed numerous times. I doubt most people will be able to use their full allowance but it is still possible to put the full amount into great non-ISA accounts that pay more than an ISA. Note also that most of the top rate ISAs are 1) regular savings accounts, and 2) only available to a limited number of people.

silvercar

I'm thinking of going for the Coventry BS ISA Reward - 2.50% and uniting all my ISAs together, currently I have 3 providers: Coventry Poppy and Tesco (both of which have reached the end of their good deal) and Birmingham Midshires where I have justed moved everything to a 1.5% one year rate. Does this sound reasonable.