Cash ISAs: The Best Currently Available List

2010

refluxer said:

roked said:

2010 said:

isasmurf said:

Santander down to 2nd best as Virgin reacts with new rates
1 year 3.02%
2 year 3.27%

Virgin 1 year gains you £4 over Santander on £20k and only 60 days loss of interest on money withdrawn but can`t be put back in.
Santander gives you a £50 voucher on a tranfer over £10k but 120 days lost of interest on early closure.

Unless I am misreading it, a key difference here too is that Virgin requires a fresh deposit for this tax year and Santander does not, might be a key factor for anyone with the 1 new cash isa per year rule.

Virgin allow transfers in - you don't have to fund the ISA with cash from this year's allowance.

If you have already used this current years allowance you can still transfer that in, can`t you?

refluxer

2010 said:

refluxer said:

roked said:

2010 said:

isasmurf said:

Santander down to 2nd best as Virgin reacts with new rates
1 year 3.02%
2 year 3.27%

Virgin 1 year gains you £4 over Santander on £20k and only 60 days loss of interest on money withdrawn but can`t be put back in.
Santander gives you a £50 voucher on a tranfer over £10k but 120 days lost of interest on early closure.

Unless I am misreading it, a key difference here too is that Virgin requires a fresh deposit for this tax year and Santander does not, might be a key factor for anyone with the 1 new cash isa per year rule.

Virgin allow transfers in - you don't have to fund the ISA with cash from this year's allowance.

If you have already used this current years allowance you can still transfer that in, can`t you?

Yes - I believe that is allowed but, as I understand it, you must keep money from this year's allocation together such that it is only ever in one cash ISA at any one time during this tax year.

My reply was just in reference to the previous comment that "Virgin requires a fresh deposit for this tax year" - I presumed he was talking about 'new money' from this year's allowance (as in a cash deposit)

2010

Have I got this right about the 60 days lost of interest for the Virgin 1 year fixed ISA. I can withdraw £1k, which I can't put back and only lose 60 days interest on the £1 k. Which is just under a fiver. The rate being 3.02%.

bristolleedsfan

https://www.castletrust.co.uk/savings/accounts?product#fixedratee-cashisa   1 year

Rate 3.15% AER* Min  £1,000.00 - not reflected on Page 1

refluxer

2010 said:

Have I got this right about the 60 days lost of interest for the Virgin 1 year fixed ISA. I can withdraw £1k, which I can't put back and only lose 60 days interest on the £1 k. Which is just under a fiver. The rate being 3.02%.

Have you checked the T&C's to see if partial withdrawals are allowed ? Some fixed rate ISA providers only allow closure of the account or transfer of the full balance (both with penalty).

roked

refluxer said:

2010 said:

refluxer said:

roked said:

2010 said:

isasmurf said:

Santander down to 2nd best as Virgin reacts with new rates
1 year 3.02%
2 year 3.27%

Virgin 1 year gains you £4 over Santander on £20k and only 60 days loss of interest on money withdrawn but can`t be put back in.
Santander gives you a £50 voucher on a tranfer over £10k but 120 days lost of interest on early closure.

Unless I am misreading it, a key difference here too is that Virgin requires a fresh deposit for this tax year and Santander does not, might be a key factor for anyone with the 1 new cash isa per year rule.

Virgin allow transfers in - you don't have to fund the ISA with cash from this year's allowance.

If you have already used this current years allowance you can still transfer that in, can`t you?

Yes - I believe that is allowed but, as I understand it, you must keep money from this year's allocation together such that it is only ever in one cash ISA at any one time during this tax year.

My reply was just in reference to the previous comment that "Virgin requires a fresh deposit for this tax year" - I presumed he was talking about 'new money' from this year's allowance (as in a cash deposit)

Yes I was referring to that as in the virgin write up it states you have to deposit £1 to open it 

• Minimum to open £1.
• For your initial deposit you are able to pay money in with your debit card. Any money paid in will receive interest immediately but cannot be withdrawn for six working days

Further down it says you can deposit using transfer, just not specifically stating it for the initial one. Where on the standander one, it specifically states you can open with zero balance and then transfer in.

I have not done the application process, I am guessing from your response it allows you to apply with transfer only, so can disregard then my comment 

Kazza242

bristolleedsfan said:

https://www.castletrust.co.uk/savings/accounts?product#fixedratee-cashisa   1 year

Rate 3.15% AER* Min  £1,000.00 - not reflected on Page 1

This ISA launched only today (16th September).  I did an update to the list last night. 

The ISAs are changing on a daily basis, so please bear with me.  

I have added the Castle Trust ISA (and a couple of other new ISAs) to the first post. 

refluxer

@roked I must admit I'm not familiar with that particular ISA but, in my experience at least, it's usual that if an ISA provider accepts transfers in, that you'd be able to open the account with a transfer.

2010

refluxer said:

2010 said:

Have I got this right about the 60 days lost of interest for the Virgin 1 year fixed ISA. I can withdraw £1k, which I can't put back and only lose 60 days interest on the £1 k. Which is just under a fiver. The rate being 3.02%.

Have you checked the T&C's to see if partial withdrawals are allowed ? Some fixed rate ISA providers only allow closure of the account or transfer of the full balance (both with penalty).

Virgin 1 year fix 3.02%.

• You can withdraw money from your account but you cannot put money back in. Any withdrawals made within the fixed rate period are subject to a charge equivalent to 60 days' loss of interest on the amount withdrawn.

So if you withdraw £1k you`ll lose less than a fiver.

Gambler

I have an ISA with Coventry so want to transfer to the new ISA account at 1.85%. When filling in the application it states that I am applying for the 2022/23 tax year but I don't want to add this years allowance to Coventry, I want it to go elsewhere.

Am I okay to do this?


Thanks