Cash ISAs: The Best Currently Available List

refluxer

pecunianonolet said:

Consumerist said:

pecunianonolet said:

Expotter said:

I know it's been discussed before, but as a reminder for anyone looking for a cash ISA, the Coventry B.S Limited Access ISA (Online) (3) rate  is currently 2.25% but will go up to 2.85% on 1st Dec. It is flexible and limited to 6 withdrawals per year and a good alternative if you can't (or don't want to) open the Virgin Exclusive ISA

I am undecided if I should open this or not. They say if it's current money I have to put all in, and can't drip feed... Only 14 days notice as well if they reduce rates 

It's a variable account (not fixed) so why can't you drip feed? Most ISAs transfer electronically in just a few days.

• You can transfer in current and/or previous years’ ISA savings using an ISA transfer. If you’re transferring in your current years’ savings, then you must transfer all of it

Am I misunderstandig this? 

I would put 16k in, plan to drip feed each month (Dec - March) 1k and should rates for 1y fixes rise after BoE meeting in December I would perhaps transfer into 1y fix. All cash currently in easy access accounts.

If you scroll back up a couple of messages, you'll see I answered that question 5 minutes after you originally posted about it !

pecunianonolet

Consumerist said:

The 'transferring of your current years' savings' refers to savings held in an existing ISA which you have paid into this year (since 06 April 2022).

If your savings are held in easy-access (non-ISA) accounts then you can pay them into the Coventry Limited Access ISA at will (up to £20k until 05 April 2023, when you get another £20k allowance to use by 05 April 2024 . . .). This assumes you have not paid any money into an ISA since 06 April 2022.

Thanks a lot for confirming. Not had any ISA payments yet so that makes this a very attractive product. And since they up the rates, I hope they not take it off the market in the next few days. However, in the current market situation everything is possible. 

Consumerist

pecunianonolet said:

. . . I hope they not take it off the market in the next few days. However, in the current market situation everything is possible. 

If they intend to up the rate from 01/12/22, it seems unlikely they will withdraw the ISA from the market before then.

In any event, if you are worried about withdrawal from the market, apply for the account asap. then you have got it if you want it. If you change your mind then just don't put any money in it - it doesn't count as an ISA until money is put in.

cricidmuslibale

t1redmonkey said:

cricidmuslibale said:

So why has the latest B of E base rate of 3% not generally been acknowledged by banks and building societies in respect to their current easy access savings interest rates in the way that the previous base rate of 2.25% was? Any ideas, please?

I reckon most financial institutions are extremely healthy in terms of their cash balances because of the decade+ of quantitive easing we've had so there isn't much of a clamour for saver's money at the moment.

Yes, having thought about this a little bit more, I think you may have hit the nail on the head with what you've said above!

However, the one exception at the moment seems to be the Regular Savings market which has recently become very competitive with several accounts with different banks / building societies now offering 5% + interest rates, Monmouthshire Building Society's new 5.5% Christmas account being the latest attractive offering in this regard. (Naturally of course, that is meant to be discussed further on the Regular Savings thread rather than here.)

bristolleedsfan

https://hodgebank.co.uk/savings/personal-savings/isas/  3 Year - 4.65%

pecunianonolet

Tesco Bank Fixed Rate ISA - 3.75%
Minimum deposit: £1.
Notes: Fixed for one year from account opening.

--> Reduced to 3.6%

andyhicks88

I've locked in already to the higher tesco rate, i'm just stalling at the moment because I'm unsure whether I'm happy to proceed with the annual interest rather than monthly i can get with Gatehouse for example (even though it's a lesser rate). Is Gatehouse btw a bank where you have to put your account number in the reference when you make a transfer to it or is it a direct deposit?

bristolleedsfan

andyhicks88 said:

 Is Gatehouse btw a bank where you have to put your account number in the reference when you make a transfer to it or is it a direct deposit?

Put your account number in the reference when you make a transfer 

pecunianonolet

I am thinking of going with the Charter 3.76% one but I don't want to lock 20k away yet. Locking now and moving if an attractive offer comes around means 90 day penalty and a new rate would need to be substantially higher to offset this. I expect BoE rates to increase in December and hope this will push rates up a bit more. Hope the gamble works in my favour but might be wrong as I see top rates disappearing.

savit4l8er

With the steady decline in rates for 1, 2 and 3 year rates over recent days, it might be that any BOE rate rises in the near future may result in fixed terms being offered only close to but not as high as we have seen in which case, anyone who signed up for the better rates may be sitting comfortably.  I feel around the time the NW members only bond was at it's best and a short while after was a key switching point with plenty of competition,  good for older fixes in  the 1-2% bracket to be broken for higher reward.  Possibly they were more concerned about the future at that time but that could all change 😂