Cash ISAs: The Best Currently Available List

Kazza242

The first post of this thread has been updated to include all the new ISA rates, following the Bank of England's decision to reduce UK interest rates from 5.75% to 5.50%.

mgtb

I must be naive - I thought once we had opened up ISAs (NS&I) that was it - add to it every year etc. I had no idea that charges could be made if we withdrew monies or closed accounts. Do these penalties apply to NS&I? I had been treating ISAs as tho they were regular savings accounts!
Am I so wrong?

jem16

Penalties apply to fixed rate ISAs. The NS&I direct ISA is a variable rate ISA so no penalties for withdrawing or leaving apply.

RayWolfe

Indeed, they only apply if you withdraw early ... most ISAs allow withdrawal at any time without penalty. Always read the terms & conditions.

Ian_W

Happy new Year Kazza and all ISA buffs.

Unless I've got me wires crossed according to their website from 1-1-08 the YBS Fixed Rate Anniversary ISA has dropped like a stone from the 6.35% in your post#1 to a measly 5.8% AER, same as the e-ISA! :rolleyes:

Very naughty of YBS IMO and now actually no attraction to fix with them at all when there are so many better fixed around! :mad:

kingkano

Scarborough BS My Savings ISA - is now 6.50 rather than 6.80%

Kaz64_2

I have got myself a fixed rate Halifax ISA(6.25%)... just one year... so in a year's time I could add another £3000 couldn't I? Be no different from a normal ISA. Or would I do better to leave my money in my Halifax Variable (4.21%) until this April 5th, THEN open the Fixed, so next year I would get the full year's worth of interest?

Paul_Herring

Kaz64 wrote: »

I have got myself a fixed rate Halifax ISA(6.25%)

This one? It says the interest rate is 6.55% Unless you have a smaller balance

Or would I do better to leave my money in my Halifax Variable (4.21%) until this April 5th, THEN open the Fixed, so next year I would get the full year's worth of interest?

Assuming it is the one I linked to above, since they only allow one deposit:

Only one deposit on account opening - No additional deposits or withdrawals

you may be better off waiting until after your April 5th deposit has cleared. Assuming, of course, they don't drop the rate by then.

Kaz64_2

Thanks Paul. Yes, that's the one... the 6.55% is for the top amount... mine comes into the next tier down, the 6.25%. Hmm, it's bit like swings and roundabouts.... If I wait, I run the risk of the rate falling! If I transfer now, would I get 4.21% for the first three quarters of the year, and then 6.25% for the last three months? I am also wondering if I should open another ISA on 5th April, in another place, one with a respectable rate, and then this time next year I can just transfer it over to the Halifax fixed one. Or am I making my life complicated?

Special_Saver2

Kent Reliance have decreased their rate by only 0.16%!

According to their website, their direct ISA is paying 6.05% with effect from 1st January and still allows transfers in.

Nice one Kent Reliance!!!