Cash ISAs: The Best Currently Available List

Froggitt

Old folk should really consider waiting until January for the NSI 4% deal.

Kazza242

Archi_Bald wrote: »

I would hope there will be lots of people who intend to make use of their 2014-15 allowance in a cash ISA but are not planning on depositing the money into an ISA before late March 2015. For the simple reason that almost everybody can make significantly more money in interest paying current accounts until then, whilst not losing their ISA allowance.

Yes, that's one of the reasons I thought people would delay opening one. Others may also be waiting to see if the BOE base rate rises as there could then be better rates available on NISAs.

michaels

10_66 wrote: »

first direct are reducing the interest rates on their Cash ISAs wef 16/10/14:
£1 - £14,999 = £1.30 AER
£15,000 - £29,999 = 1.40% AER
£30,000 + = 1.50% AER


Have tried to send a PM to Kazza, but inbox is full.

Or possibly from 1/10/2014 - letter I got said 2% ends on 30/9/2014 and new rates start on 16/10...figure it out yourself....

sly_dog_jonah

First Direct's updated rates are now reflected on their website: http://www1.firstdirect.com/1/2/savings/cash-isa

owitemisermusa

Yet to dip into this year's ISA waters. How's it looking? Loving my Santander 123! Would look to move my other ISAs eventually. Too much hassle and lost interest somewhat (pun unintended).

colsten

No point in putting any money into a cash ISA much before end of March next year at the earliest when you can make a lot more in current accounts.

boobbby

colsten wrote: »

No point in putting any money into a cash ISA much before end of March next year at the earliest when you can make a lot more in current accounts.

I agree and in fact for the first time ever removed a bit of money from previous ISAs, to top up my current accounts

Kazza242

Hi everyone.

The first post has been updated.

I have added some more new variable rate NISAs to the list.

jimjames

Kazza242 wrote: »

Hi everyone.

The first post has been updated.

I have added some more new variable rate NISAs to the list.

Should the first item in the list be "do you need an ISA at all?"

Kazza242

jimjames wrote: »

Should the first item in the list be "do you need an ISA at all?"

Things can change very quickly. There is already talk of BOE interest rate rises coming earlier than initially thought. If that does happen then this would make ISAs more competitive.

Furthermore, a couple of friends of mine are near the higher rate tax threshold, but because most of their cash savings are in ISAs they've remained basic rate tax payers, as they haven't had to declare the interest to HMRC. So ISAs can still be useful to have - even when interest rates are low.

I still think it is a good idea for savers to use their ISA allowances. A lot of people with cash savings will spread the money between various 3%-5% interest paying current accounts (and regular saving accounts) and then deposit money into an ISA by 5 April 2015 so as not to lose their allowance.