Cash ISAs: The Best Currently Available List

kora_2

Thumbs_Up said:

Kent Reliance 1 year fix now 3.20% tops table. I’m tempted.

https://www.kentreliance.co.uk/isas/cash-isa-fixed-rate-1-year

Very tempting but think I might hold off a little longer. I think someone will beat it soon. 

masonic

nomorekids said:

2010 said:

Hammer_Time said:

At the moment Shawbrook are allowing you to move your ISA penalty free to any of their other ISA. So I believe if you have a 5 year fix (360 day penalty) you can move it to their 1 year fix not great interest 2.37%, however only 90 day penalty. 

Have you got a link where they say this.
I`ve just looked and can`t see anything on their site.

Hammer_Time said:

They will only offer it to you if you phone them. I phoned to see how much the exit fee would be, but I also asked if I could transfer to one of their isa penalty free and surprisingly they said yes. I phoned 0345 266 6611.

Trying to do the math on £80k that has until July at 0.85% to run, either fix at 2.37 as Hammer-Time suggests without penalty or take the Coventry 2.25 for a bit and take the penalty. Anyone got an easy way of comparison?

Compare the penalties. The 2.37% fix would cost £468 to break, which is equivalent to a penalty of about 250 days at 0.85%. I doubt your penalty is that bad. You won't want to keep the 2.37% fix if the base rate goes up to 4.75% as predicted. Optimal solution is probably to break it, go easy access at 1.9% for a few months, then fix at 4%+.

nomorekids

masonic said:

nomorekids said:

2010 said:

Hammer_Time said:

At the moment Shawbrook are allowing you to move your ISA penalty free to any of their other ISA. So I believe if you have a 5 year fix (360 day penalty) you can move it to their 1 year fix not great interest 2.37%, however only 90 day penalty. 

Have you got a link where they say this.
I`ve just looked and can`t see anything on their site.

Hammer_Time said:

They will only offer it to you if you phone them. I phoned to see how much the exit fee would be, but I also asked if I could transfer to one of their isa penalty free and surprisingly they said yes. I phoned 0345 266 6611.

Trying to do the math on £80k that has until July at 0.85% to run, either fix at 2.37 as Hammer-Time suggests without penalty or take the Coventry 2.25 for a bit and take the penalty. Anyone got an easy way of comparison?

Compare the penalties. The 2.37% fix would cost £468 to break, which is equivalent to a penalty of about 250 days at 0.85%. I doubt your penalty is that bad. You won't want to keep the 2.37% fix if the base rate goes up to 4.75% as predicted. Optimal solution is probably to break it, go easy access at 1.9% for a few months, then fix at 4%+.

thank you Masonic, its 180 days penalty but I've come to same conclusion via my spreadsheet and going for the Coventry 2.25% limited withdrawals but I'll only use them to transfer and taking the penalty. Nice of Shawbrook to offer penalty free transfers but their interest rates aren't tempting enough.

Expotter

Newcastle Building Society 1 year fixed rate cash ISA 3.6% Issue 61.
2 year fixed 4.1%

steveksullivan

Expotter said:

Newcastle Building Society 1 year fixed rate cash ISA 3.6% Issue 61.
2 year fixed 4.1%

See my separate post at 11:22 'Am I seeing things?' .....any comments anyone.....?

Kazza242

Hello everyone.

There are quite a few new fixed rate ISAs as rates continue to increase. 

The first post has been updated.

Silverbird65

Hi I took out a paragon ISA in July which was good then 2.17% a large amount. I think they charge 90days for withdrawal how do they work it out. Would it be worth waiting a bit longer for bigger rises? Thanks

2010

Silverbird65 said:

Hi I took out a paragon ISA in July which was good then 2.17% a large amount. I think they charge 90days for withdrawal how do they work it out. Would it be worth waiting a bit longer for bigger rises? Thanks

How long are you prepared to wait because nobody knows how high rates will go.
It will cost you 90 days interest on your balance on the day you transfer.

To put it simply £20k x 2.17% = £434 divide by 365 days x 90 days = £107 leaving £19,893.

You`ll be left with more because of the interest you`ve earned to date.

Silverbird65

It might be worth hanging on at least I am getting a fair amount. Wait till I see where things are going otherwise you would be forever moving money around at the moment.

savit4l8er

Silverbird65 said:

Hi I took out a paragon ISA in July which was good then 2.17% a large amount. I think they charge 90days for withdrawal how do they work it out. Would it be worth waiting a bit longer for bigger rises? Thanks

They will take the equivalent of 90 days interest off or roughly 3 months so if you invested at the start of July, you would just about be even give or take.

If you invested at the end of July, you will be down. It's hard to say if it will be better to wait, it may well be. If you could move it now into a better instant access rate without penalty, you could do that and then move again to a fix. I have just done that first move but that is from 1.36 fix to 2.25 accessible so I am starting to recover the penalty daily while I wait for something I like.