Cash ISAs: The Best Currently Available List

jimjames

veryintrigued wrote: »

Dont all products have 'a limited period'
.

I'm not aware of any limited period on my S&S ISA. I've been paying in without problems for some considerable time.

veryintrigued

jimjames wrote: »

I'm not aware of any limited period on my S&S ISA. I've been paying in without problems for some considerable time.

The context of this thread is mini cash ISAs. Has the thread title changed as well as the the fact we're no longer allowed to discuss Regular Saver ISAs within in too?

As I said, am just a thickie - I rely on clever people like you to keep me on the straight and narrow.

jimjames

veryintrigued wrote: »

The context of this thread is mini cash ISAs. Has the thread title changed as well as the the fact we're no longer allowed to discuss Regular Saver ISAs within in too?

Mini cash ISAs disappeared in around 2008 so thread is pretty of out of date anyway.

Can't see any reason not to discuss any method of putting money into an ISA though.

Froggitt

veryintrigued wrote: »

I bet you'll be eating a magic mushroom flavoured hat when at least a couple of institutions release details of some 'decent' regular saver type of cash ISAs in a few weeks.

Up for that bet?

Do you mean like the Nationwide 2.5% regular saver NISA? Or the hidden Clydesdale 5 year Fixed rate issue 28 @ 2.7%?


Or better than those?

veryintrigued

Froggitt wrote: »

Do you mean like the Nationwide 2.5% regular saver NISA? Or the hidden Clydesdale 5 year Fixed rate issue 28 @ 2.7%?


Or better than those?

Those aren't great!

Scroll up on my post on last years Regular Saver offers (even though we're not allowed to talk about them).

If I remember correctly these were advertised before the budget i.e. when the ISA limit was close to tripled. These institutions did stick with the same rate though even after this announcement.

Be nice if something similar was offered again.

Froggitt

Theyre not great - correct. But other than niche products like Saffron existing customers, they ain't getting much better any time soon.

AndyPK

How do I find the hidden Clydesdale 5 year Fixed rate issue 28 @ 2.7%?

What are saffron offering to existing customers ?

masonic

veryintrigued wrote: »

I remember the same arguments last year and two institutions came up with nisa regular savers at 4%.

At £1250 per month they suited me perfectly.

Mind you am a bit of a thicky.

I don't consider 4% to be a very good rate for a regular saver account.

Froggitt

AndyPK wrote: »

How do I find the hidden Clydesdale 5 year Fixed rate issue 28 @ 2.7%?

Dunno. Its the offer for 5 year maturity ISAs. Give them a call, they may allow new money or transfers.

colsten

masonic wrote: »

I don't consider 4% to be a very good rate for a regular saver account.

Agree, as you can make more money even by simply putting your money into taxable regular savings accounts. At least you can as a basic rate tax payer, which the vast majority of UK tax payers are. You can also boost your returns outside cash ISAs by putting some of your money into some other money boosting 'ventures' such as Halifax Reward, account switching and/or the recent HSBC offer for Advance customers). But leaving all boosters, and any drip-feeding considerations, aside, here are some numbers:

deposit £1,250 a month into an ISA regular saver

TOTAL INTEREST £323.05

deposit £1,250 a month (max allowed in ISA regular savers) into regular savers. Note that no ISA regular saver at 4% is presently available, whilst all non-ISA RSs are presently available.

• £800 into HSBC, FD, M&S 6% RS: £247.81 after BR tax
• £450 into a 4% ISA Reg saver: £116.30

TOTAL INTEREST £364.11

So you can get at least 10% more outside a cash ISA. Granted, you need a few more accounts to do so but most astute moneysavers either already have at least some of the additional accounts, or won't mind opening and operating them. Especially as the non-ISA accounts can all be opened and operated online, and - crucially - are available to everybody in the UK, not just regional pockets or customers who have held accounts for x years.

Considering that most savers will actually not have anything like £1,250 a month / £15,000 a year to squirrel away each year, the "tax-free" factor of cash ISAs stays basically irrelevant for cash savers. Great-looking AER %ages for regular savings ISAs make no difference to this trend - fact is that presently cash ISAs don't return as much as taxable accounts for the majority of people.

Those arguing that you shouldn't lose your annual cash ISA allowance would be right if the money can be invested for at least 5 - 10 years in an S&S ISA. But don't waste your cash on a cash ISA, not until cash ISA rates are clearly outperforming non-ISA interest rates.