Cash ISAs: The Best Currently Available List

goRt

mothemoneysaver said:

Any idea why the Santander 18mth fixed has a better rate than the 2 year option? Is it because they anticipate interest rates to peak and drop in that period or am I missing something else?

1 year option

Fixed rate of 4.15% AER/tax-free for 1 year

2 years option

Fixed rate of 4.20% AER/tax-free for 2 years

18 months option

Fixed rate of 4.25% AER/tax-free for 18 months

It reflects the "rate inversion" in the markets where the funds are secured, if you look at best buy tables it can also be seen there

pecunianonolet

An inverted yield curve is usually a sign for recession...

Stargunner

As an alternative to an easy access cash ISA I have been looking at flexible stocks and shares ISA’s, which can be used like an easy access account. You can invest in a money market fund that tracks the overnight Sonia rate, which is currently 4.18%. Royal London short term money market fund, available as acc or inc has been mentioned a few times on the forums. Even with the fees, the returns should be better than easy access cash ISA rates. Barclays offer a flexible S&S isa snd their fees are 0.2% 

Expotter

Regarding the Coventry limited access cash ISA, does anyone know if it's possible to open one now and not fund it until April 6th? (I've already used this year's allowance)

EssexHebridean

Expotter said:

Regarding the Coventry limited access cash ISA, does anyone know if it's possible to open one now and not fund it until April 6th? (I've already used this year's allowance)

I'll be watching answers to this one with interest - same position. 

bristolleedsfan

Darlington B.S - 5 year fixed - 4.20% ISA has been withdrawn after a few days.

TiVo_Lad

Expotter said:

Regarding the Coventry limited access cash ISA, does anyone know if it's possible to open one now and not fund it until April 6th? (I've already used this year's allowance)

Yes. Opening and subscribing are different things and there's no minimum payment window that I can see in the T&Cs so you'd be fine to open the account now and then subscribe to it on 6th April.

alternate

TiVo_Lad said:

Expotter said:

Regarding the Coventry limited access cash ISA, does anyone know if it's possible to open one now and not fund it until April 6th? (I've already used this year's allowance)

Yes. Opening and subscribing are different things and there's no minimum payment window that I can see in the T&Cs so you'd be fine to open the account now and then subscribe to it on 6th April.

I believe it says that they will automatically close it after 30 days if unfunded, so should be okay.

Stargunner

The Coventry limited access is classed as a flexible ISA in that you can make up to 6 withdrawals a year without penalty. I can’t see anything about being able to repay back in money that you have previously withdrawn like you can with most flexible ISA’s. Does anyone if you can.

ForumUser7

Stargunner said:

The Coventry limited access is classed as a flexible ISA in that you can make up to 6 withdrawals a year without penalty. I can’t see anything about being able to repay back in money that you have previously withdrawn like you can with most flexible ISA’s. Does anyone if you can.

I think you’re mixing easy access ISAs with flexible ISAs.

‘An easy access cash ISA lets you earn interest without paying any tax and you can withdraw the money whenever you need to without penalty.’ ~ https://www.nerdwallet.com/uk/savings/what-is-an-easy-access-isa/

‘A flexible ISA is the term used to explain that you can withdraw money from your ISA temporarily and pay it back within the same tax year without affecting your annual ISA allowance.’ ~ https://www.bestinvest.co.uk/isas-explained/what-is-a-flexible-isa


Their booklet confirms you can pay it back in subject to ts and cs:

’ This is a flexible ISA so you can take money out and put it back in later, without it counting any further towards your annual ISA allowance, as long as you pay the money back in before the end of the same tax year. If you’ve created a flexible ISA allowance on another ISA, you can’t transfer this allowance to Limited Access ISA (Online) (4). For more details about how flexible ISAs work, ask us or visit www.coventrybuildingsociety.co.uk/isa-guide’

https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/at-a-glance/limited-access-isa-online-4.pdf