Cash ISAs: The Best Currently Available List

cricidmuslibale

SickGroove said:

Stupid question alert!

If I have 20K in a cash ISA with Charter, I should only also have max 65K fixed savings correct? All interest paid away monthly, so would only ever be 85K total in there

Yes, if you stick to a maximum of £85K in total (including the cash ISA) saved with Charter, all your savings are fully protected by FSCS protection in the very unlikely event of anything going seriously wrong at Charter.

SandyN21

I've just put £20K in a Virgin Money 1 Year Fixed Rate Cash E-ISA (Issue 560) @ 4.11%

2010

SandyN21 said:

I've just put £20K in a Virgin Money 1 Year Fixed Rate Cash E-ISA (Issue 560) @ 4.11%

You might have jumped the gun with that. Currently Virgin hasn't got a one year fix on offer. Waiting for issue 561.

Magnets_2

Which way do you guys think Virgin money will go with the 1 year fix? Should slightly increase the rate with the forecast base rate increase in May?

I wasn't expecting them to pull it so soon

VNX

Of course it’s all Crystal ball stuff but it would appear that one more 0.25pc rise is coming which is I would suspect to be priced in by now on most fixes. 

If big if, things go as many predict that may be it, if so fixes can’t have much more to increase by, there has a been quite a bit of movement today albeit not big increases but this probably driven by certain institutions wanting to get some money in more than anything. 

I have opened a 2yr 4.28% paragon will wait a week or so then take the plunge.

edit, I see Paragon rate increases have lasted less than a day!

refluxer

VNX said:

I see Paragon rate increases have lasted less than a day!

It's only the 1 year fix that's been withdrawn - the rest are still available

2010

Virgin are usually towards the top so I would expect the next 1 yr about 4.20% plus.

dcs34

Am I right in thinking I can pay £16k into a new 2023/24 ISA, then transfer any maturing ISA 1 year fixes into that new 2023/24 ISA (once they've matured), and then transfer that amount to as many new ISAs this tax year as I want, providing I transfer the full balance each time?

As in, the rules are:

• Only pay "new money" into one ISA (of each type) each tax year, but
• Unlimited transfers of "existing ISA money" into new ISAs, providing the whole balance is moved across each time?

gelato_cat

dcs34 said:

Am I right in thinking I can pay £16k into a new 2023/24 ISA, then transfer any maturing ISA 1 year fixes into that new 2023/24 ISA (once they've matured), and then transfer that amount to as many new ISAs this tax year as I want, providing I transfer the full balance each time?

As in, the rules are:

• Only pay "new money" into one ISA (of each type) each tax year, but
• Unlimited transfers of "existing ISA money" into new ISAs, providing the whole balance is moved across each time?

You'll need to make sure that all the receiving ISAs accept transfers in (some don't).

SandyN21

2010 said:

SandyN21 said:

I've just put £20K in a Virgin Money 1 Year Fixed Rate Cash E-ISA (Issue 560) @ 4.11%

You might have jumped the gun with that. Currently Virgin hasn't got a one year fix on offer. Waiting for issue 561.

Can't get into the Virgin link for Issue 560 right now due to maintenance... but these are the details

https://www.express.co.uk/finance/personalfinance/1752840/virgin-money-fixed-cash-ISA-interest-rate


Issue 561 is fixed for two years

https://uk.virginmoney.com/savings/products/2_year_fixed_rate_cash_e_isa_issue_561