Cash ISAs: The Best Currently Available List

scoot65

Didn't this very useful thread used to be a sticky? It needs to be…..

colsten

It is in the ISAs & Tax-free Savings Sticky where it seems to belong?

Consumerist

I don't think this thread is a sticky at the moment. Only one sticky on this board (by Crabman).

le_loup

Click on the sticky and find what it has in store!!!!!

Consumerist

Ok. Got that - not actually a sticky but pointed to by a sticky.

Probably more efficient that way. Just didn't occur to me to look there.

akh43

I have just over £10,600 in a 2 year fixed rate Isa with Halfiax that has just matured and has been automatically transferred to a ridiculous 0.05%. I have been looking to transfer out to another provider, but nothing is very good at the moment. I am debating whether to just temporarily move to the 1.05% variable with Halifax just for convenience to get it out of 0.05% or to move to the 1.50% with post office. I am not sure whether I can move to the post office for only a few months and then transfer out again in April.

My plan is to open a new fixed ISA in April, with hopefully a better rate with approx £10k new money and then transfer this existing ISA in to give a bigger ISA going forward as I am sick of having various small amounts.

Any comments or suggestions appreciated.

jimjames

For £10k why even bother with an ISA when you can get up to 5% using current accounts?

akh43

jimjames wrote: »

For £10k why even bother with an ISA when you can get up to 5% using current accounts?

I thought keeping it as an ISA going forward would be the best option as this is old ISA month that I just keep transferring. Just saving this and other ISAs towards my retirement pot, hoping to merge several ISAs together to get a better interest rate and in the hope some day the rates overall will improve.

Which current account pays 5%?
I already have 2 current accounts Halifax & First Direct (with the 6% regular saver) I looked at Santander, but the 123 not really relevant to me and I only have a few direct debits which are already spread between Halifax & FD so not sure I could go to yet another current account and dont want to close the 2 I already have.

Consumerist

akh43 wrote: »

. . . I am debating whether to just temporarily move to the 1.05% variable with Halifax just for convenience to get it out of 0.05% or to move to the 1.50% with post office. I am not sure whether I can move to the post office for only a few months and then transfer out again in April. . .

The PO ISA is variable-rate so you can transfer out whenever you like without penalty.

Bear in mind that the Post Office uses Bank of Ireland which is not, I think, covered by the UK's compensation scheme.

Picking up on jimjames' point, if you intend to subscribe significantly less than the £50K+ annual allowance next year then you could try for higher interest in current accounts providing you don't mind setting them up with monthly DDs and minimum deposits. In my view, it's unlikely that ISA rates are going to improve much in the short term.

YorkshireBoy

akh43 wrote: »

Which current account pays 5%?

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#currentaccount