Cash ISAs: The Best Currently Available List

SimonM_2

What a surprise, the Loyalty Rate dropping... seems a bit bait and switch seeing as they only upgraded my current account last month, and despite the fact it is a variable rate, I'd not expect to see a letter the next month telling me the rate is dropping, especially when some rival providers have increased their rates in the meantime.

tiptoe_mouse

The Punjab National bank are cutting the rate on their Variable rate cash ISA. On 10th August 2015 it will drop to 1.65%

They are also dropping their fixed rates too from that date, but that's not a problem if you get the cash in before then, I assume.

Click on the announcement on their home page (http://www.pnbint.com) for more info. Direct link to the pdf is http://www.pnbint.com/download/Circular%20on%20ISA%20%20Deposit%20Rates%20w.e.f%2010.08.2015.pdf

HTH,

tiptoe

Kazza242

The first post has been updated.

The Punjab Bank variable ISA rate, currently paying 2.00% will be reduced to 1.65% from 10/08/2015. The new fixed rate ISAs available on the same date, will pay 1.75%, 1.90%, 2.30%, 2.35% and 2.50% for a one, two, three, four and five year term respectively.

harz99

So Aldermore has dropped out of the tables as their rates are lowered. Shame really, because they are one of the few to offer fixed rate monthly interest for those who need it.


Thanks for the update Kazza.

silvercar

Just reporting that Virgin Money handled the transfer of ISAs from other providers very smoothly. 3 ISAs transferred in a week.

Consumerist

silvercar wrote: »

Just reporting that Virgin Money handled the transfer of ISAs from other providers very smoothly. 3 ISAs transferred in a week.

Similar experience with Coventry BS ISA. 3 ISA transfers-in took just 2 days from filling in the transfer request on-line. Great!

harz99

I wish Saga (BM) was that efficient. Despite them having received the application from Nationwide well in advance of the maturity date for my fixed rate ISA, it took them a full 7 days from maturity for the electronic transfer to Nationwide to take place.

colsten

harz99 wrote: »

I wish Saga (BM) was that efficient. Despite them having received the application from Nationwide well in advance of the maturity date for my fixed rate ISA, it took them a full 7 days from maturity for the electronic transfer to Nationwide to take place.

7 days is less than half the 15 days providers are legally allowed to make the transfers without paying you interest on your balance.

Good cash ISA providers now pay you interest from the day after your ISA cash left the old ISA provider, so the account holder does not lose a day's worth of interest, regardless of how long the actual transfer takes. I am not sure Saga fall into this category but wouldn't be surprised if they were. Perhaps you can check with Saga and post your findings?

NB. Why did you move from Nationwide to Saga?

boobbby

colsten wrote: »

7 days is less than half the 15 days providers are legally allowed to make the transfers without paying you interest on your balance.

Good cash ISA providers now pay you interest from the day after your ISA cash left the old ISA provider, so the account holder does not lose a day's worth of interest, regardless of how long the actual transfer takes. I am not sure Saga fall into this category but wouldn't be surprised if they were. Perhaps you can check with Saga and post your findings?

NB. Why did you move from Nationwide to Saga?

I think he moved from Saga to Nationwide which was a good move !

colsten

boobbby wrote: »

I think he moved from Saga to Nationwide which was a good move !

Oops yes. :o

I think Nationwide are one of the 'good' ones, paying interest from the day after the money left the old provider. But not sure. Hope harz99 can confirm or otherwise.