Cash ISAs: The Best Currently Available List

MARTYM8`

M&S Cash advantage isa has also been reduced from 1.3% (page 1) to 1.1%.

Their 3 year fixed rate pays 1%!

http://bank.marksandspencer.com/save-invest/cash-isa/overview/#further-details

darren72

I'm looking to move my First Direct one to a fixed rate - Not sure which to go for, but want to do it fairly quickly before anymore are withdrawn or reduced.

lisyloo

How about Leeds Darren?
Just called them and customer service was good.
Maybe a prejudice that I can't justify but I'd rather go with a known name than an obscure bank I've never heard of.
Actually I can justify it a little - I have to check if they have FSCS coverage.

PopKiss

Just received the following notification from First Direct.

We need to let you know about a change we're making to the interest rate on our Cash Individual Savings Account (ISA), which will take effect from 18 October 2016. As you may know, on 4 August 2016 the Bank of England reduced its base rate from 0.50% to 0.25%. We know this isn't great news for savers but even though our savings rates are not directly linked to the base rate, we've taken this time to review our savings accounts. The change we’re making is shown below:
Cash ISA Balance Current Rate AER* New Rate AER* % Change All Balances 1.30% 0.90% -0.40% You'll see that we've reduced our ISA rate by more than the base rate, but we're confident that this rate will still remain competitive.

I guess we're about to see a further tumble of savings rates. How long before 0.1% will look attractive?!

Rich2808

lisyloo wrote: »

How about Leeds Darren?
Just called them and customer service was good.
Maybe a prejudice that I can't justify but I'd rather go with a known name than an obscure bank I've never heard of.
Actually I can justify it a little - I have to check if they have FSCS coverage.

All UK based banks and building societies will have FSCS coverage.

As for the Leeds They have just cut their 1 year fixed rate to 1.15 from 1.25 per cent - two year fixed remains at 1.4 per cent.

http://www.leedsbuildingsociety.co.uk/savings/isa-tax-free-accounts/

lisyloo

Thanks rich, but how would I know whether Dankske or al rayan or something like that are uk banks? Yes I can google but all takes extra effort.
There was one before (can't remember the name) that wasn't a uk bank (but huge and big name).

I've applied for the 2 year. Yes agreed you need to get in quick.

I also have other criteria - like people who speak good English and don't read from a script. Icicle bank had an awful Indian call center. I did actually have to concentrate a little with the Leeds accent but the person I spoke to did understand what sge was talking about and answered the phone straight away. The application process on line was good too.

masonic

lisyloo wrote: »

Thanks rich, but how would I know whether Dankske or al rayan or something like that are uk banks? Yes I can google but all takes extra effort.
There was one before (can't remember the name) that wasn't a uk bank (but huge and big name).

Moneysupermarket lists this information. Of course, if you decide to open an account, you should always double check.

lisyloo

I'm not really interested in researching banks I've never heard of for a tiny increment. I think other factors are important rather than just top rate, presumably others do too as several are listed rather than just the top payers. Thanks for the info though, might help someone else.

Rich2808

masonic wrote: »

Moneysupermarket lists this information. Of course, if you decide to open an account, you should always double check.

Al rayan is the new trading name of the Islamic bank of Britain - it's certainly a British bank operating on sharia principles. I have some money with them - they have branches near me in London and you can manage your accounts on line.

Danske bank in the UK operates in Ulster where it took over the old Northern bank. It's a UK bank as well owned by a foreign bank parent. But then so of course is Santander - so if that's a problem why would you bank with them!

masonic

Rich2808 wrote: »

Al rayan is the new trading name of the Islamic bank of Britain - it's certainly a British bank operating on sharia principles. I have some money with them - they have branches near me in London and you can manage your accounts on line.

Danske bank in the UK operates in Ulster where it took over the old Northern bank. It's a UK bank as well owned by a foreign bank parent. But then so of course is Santander - so if that's a problem why would you bank with them!

I'm well aware of all of this, but thanks for sharing. For the record, I don't bank with Santander, but only because a rate of 3% is too low for me.