Cash ISAs: The Best Currently Available List

njp6

Just to keep you all informed The Coventry Branch ISA @2% is no longer available and fixed rate has dropped to 2.6%.

zerog

ManAtHome wrote: »

Think the 1 year 2% vanished around 27/08 - nothing at all on the YBS site, financial press etc, just there it was, gone...

Managed to get the YBS 2% 1 year

Requested form 27 August
Received 30 Aug
Sent back 5 Sept
Santander confirmed money sent to YBS 22 Sept
Received passbook from YBS 4 Oct !!

Hope transferring out next year won't take 3 weeks

owitemisermusa

Guys, need some numbers to help make sense of early closure charges.

If one has, say, 20K to invest in ISA. How much would a 90day loss of interest actually be?

Another one is the notice ISA from Yorkshire, 40days loss of interest doesn't sound so bad....

Thanks.

thenudeone

owitemisermusa wrote: »

If one has, say, 20K to invest in ISA. How much would a 90day loss of interest actually be?

Depends on the interest rate.
If the interest rate is 2%, 90 days loss of interest is just under 0.5% of the balance, (£100 if the balance is £20k)

owitemisermusa

thenudeone wrote: »

Depends on the interest rate.
If the interest rate is 2%, 90 days loss of interest is just under 0.5% of the balance, (£100 if the balance is £20k)

OUCH!

Thanks for this, couldn't quite see it. Such a big hit, especially as it's very, very likely that the money would be withdrawn in a few months' time.

Opted for the FD ISA, simple and sweet at 1.5% easy access and they've not messed about with their rates too much in the past...

colsten

If you plan to withdraw your money in a few months time, there is no point in keeping it in an ISA. Put it into interest-paying current accounts as they pay more than any cash ISA.

thenudeone

Issue 103 (5y 2.85%) does not appear on their website so presumably has been withdrawn.

The only ones on Newcastle BS's website are:
issue 104 (1.50% to Sep 2015)
issue 105 (1.85% to Sep 2016)
Members-only (2.00% to Sep 2016)

Space_Captain

Quick question - can I pay some money into my Santander ISA now and then transfer the whole lot to somewhere the rate is better in a couple of weeks ? I haven't put any money in the Santander ISA for a couple of years as it was a fixed rate that expired in May this year.

Archi_Bald

You need to check the T&Cs but it sounds rather unlikely. And why would you do this anyway? The rate will be shockingly bad. Also you can be virtually certain that you will not find any better cash ISA rates in a couple weeks than today. You would most likely do better if you put the money into one of the interest-paying current accounts. http://www.moneysavingexpert.com/savings/savings-loophole
And probably leave it in there, too, for a few years, as ISA rates aren't going to magically become acceptable again soon.

Space_Captain

Archi_Bald wrote: »

You need to check the T&Cs but it sounds rather unlikely. And why would you do this anyway? The rate will be shockingly bad. Also you can be virtually certain that you will not find any better cash ISA rates in a couple weeks than today. You would most likely do better if you put the money into one of the interest-paying current accounts. http://www.moneysavingexpert.com/savings/savings-loophole
And probably leave it in there, too, for a few years, as ISA rates aren't going to magically become acceptable again soon.

At the moment it is in a current account paying 0% so I want it somewhere quickly that pays interest and my existing Santander Direct ISA pays 1.3%

Looking at the current accounts listed on MSE they stop paying interest over £5000 (except for Santander123 which I already have) so it seems easier to put as much as possible in the ISA and then move it all to a 2 year fixed rate after which the rates may have risen.