Cash ISAs: The Best Currently Available List

SnowMan

dc_scotland said:

I notice that the Tescobank Instant Cash ISA has now been increased from 0.95% to 1.21%.   Includes a fixed bonus rate of 0.96% for 12 months.

Their 1 year Fixed Rate ISA is now 1.76%.

Thanks, I've switched to the new account today. But important to say that the rate increase doesn't apply to the old 0.95% account, you have to open a new 1.21% account and  do an ISA transfer between ISA accounts.

It's possible to open a new Tesco cash ISA (1.21%) and transfer through the ISA transfer process the older Tesco cash ISA (0.95%). You need to do that by ringing them up, they'll do it there and then (but will take a few days to actually process through). It's possible to do it by paper transfer form but that will take an age.

Don't attempt an internal transfer yourself even though it looks like you can choose such an internal transfer through the online functionality between ISAs. I'm told by Tesco this probably doesn't constitute the ISA transfer process and the system may not even allow you when you press the final button to do this internal transfer. The result would then be that you might be deemed to have taken money out of the old ISA and then treated as having subscribed new money to the new ISA.

Need to be careful if you have already taken money out of the old ISA (expecting to put it back in later in the tax year since it is a flexible ISA) because the flexibility to replace that withdrawal won't also transfer if you do a full internal ISA transfer closing the old account. In that scenario you would either need to replenish the old ISA before transfer or do a partial transfer leaving say a £1 (and any accrued but not yet credited interest) in the old Tesco ISA account. That then leaves you with various options to utilise the flexibility from the old account. Gets complicated if you have already subscribed some of this year's allowance already to the old ISA.

CompulsiveSaver

Hi, long time lurker, first time poster...

More importantly, I don't think this has been mentioned yet:
Paragon Bank have released a new issue (8) of their Triple Access Cash ISA, the rate is now 1.35% AER for up to three withdrawals (0.25% for 4 or more). A slight increase over the issue 7 which I believe was 1.2% (I believe it was 1.25% if you were an existing customer)

Hope that brings a little more happiness to your day.

refluxer

CompulsiveSaver said:

Paragon Bank have released a new issue (8) of their Triple Access Cash ISA, the rate is now 1.35% AER for up to three withdrawals (0.25% for 4 or more). A slight increase over the issue 7 which I believe was 1.2% (I believe it was 1.25% if you were an existing customer)

Yep - issue 7 of Paragon's Triple Access Cash ISA got a couple of increases which took it from 0.80 to 1.25% but it looks like that may be where it stays.

Oddly, issue 8 @ 1.35% now has the same rate as their 1 Year Fixed rate ISA. They're definitely lagging behind the competition with their fixed rate products.

CompulsiveSaver

YBS have also released their increases for the 7th July (all accounts). (I am not allowed to post links yet ... : It is a PDF download form www. YBS. co. uk / boe-rate-change / index (just remove the spaces, there is also a link on their home page) 

Happy to see their Loyalty Six Access eISA/ISA Saver 2 will be increasing (as this was the lowest rate ISA I have)
£1+  1.25%
£25K+ 1.3%
£50K+ 1.4%  (So lets see what the competition have an offer before deciding if I need to transfer out).

CompulsiveSaver

refluxer said:

Oddly, issue 8 @ 1.35% now has the same rate as their 1 Year Fixed rate ISA. They're definitely lagging behind the competition with their fixed rate products.

Yes, I thought that was a little odd pricing too, especially as further base rate increases are expected, although I am not sure when that account was last increased and if there is a pending increase to the fixed accounts.

Chloe_G

CompulsiveSaver said:

Hi, long time lurker, first time poster...

More importantly, I don't think this has been mentioned yet:
Paragon Bank have released a new issue (8) of their Triple Access Cash ISA, the rate is now 1.35% AER for up to three withdrawals (0.25% for 4 or more). A slight increase over the issue 7 which I believe was 1.2% (I believe it was 1.25% if you were an existing customer)

Hope that brings a little more happiness to your day.

Oh how to keep up!  Can you move existing Paragon to this new one?  I'll have to investigate.

forextc

Chloe_G said:

CompulsiveSaver said:

Hi, long time lurker, first time poster...

More importantly, I don't think this has been mentioned yet:
Paragon Bank have released a new issue (8) of their Triple Access Cash ISA, the rate is now 1.35% AER for up to three withdrawals (0.25% for 4 or more). A slight increase over the issue 7 which I believe was 1.2% (I believe it was 1.25% if you were an existing customer)

Hope that brings a little more happiness to your day.

Oh how to keep up!  Can you move existing Paragon to this new one?  I'll have to investigate.

Yes you can.

Kazza242

The first post has been updated to include the new rates available on variable rate ISAs and the new fixed rate ISAs.  

Johnjdc

Is it me or is the Leeds BS 30 month fix just insanely good? Is there a catch - I've sent off for the forms to transfer (they want it done on paper not online). A 2.5 year fix which beats the best 5 year fix, and a relatively small (180 day) penalty for moving? The rate is nearly as high as the best 2 year fixes outside an ISA wrapper...

The only downside I can see is that rates might peak before then and might be lower in Feb 2025 than now, so you might wish you had a 5-year fix if you really don't need the money for that long...

steveksullivan

Johnjdc said:

Is it me or is the Leeds BS 30 month fix just insanely good? Is there a catch - I've sent off for the forms to transfer (they want it done on paper not online). A 2.5 year fix which beats the best 5 year fix, and a relatively small (180 day) penalty for moving? The rate is nearly as high as the best 2 year fixes outside an ISA wrapper...

The only downside I can see is that rates might peak before then and might be lower in Feb 2025 than now, so you might wish you had a 5-year fix if you really don't need the money for that long...

Damn ! This is so tempting (for the higher rate immediately .... a bird in the hand and all that ......) but I think I'll stick with the Virgin 2 yr expecting retes to rise much further, so maybe needing to bail out early and benefit from the much lower interest penalty.

hmmm.... I'll do some maths .....

EDIT: ah and interest only annual - I prefer to take mine monthly .....