Cash ISAs: The Best Currently Available List

Rheumatoid

VNX said:

Seven years is a very long fix. Of course it’s personal decision and we won’t know until 2030 how good a deal it turns out to be, could be a stroke of genius but for me I wouldn’t want to fix for as long as that 

I like annual interest on longer fixes as it spreads the interest payments over numerous tax years as this account does 

I'm probably with you on the length of fix but why does it make any difference taxwise whether interest is paid annually or at end of term if it is in an ISA?

goRt

Rheumatoid said:

VNX said:

Seven years is a very long fix. Of course it’s personal decision and we won’t know until 2030 how good a deal it turns out to be, could be a stroke of genius but for me I wouldn’t want to fix for as long as that 

I like annual interest on longer fixes as it spreads the interest payments over numerous tax years as this account does 

I'm probably with you on the length of fix but why does it make any difference taxwise whether interest is paid annually or at end of term if it is in an ISA?

Is there some implication on the value of a FSCS claim should one be required?

TiVo_Lad

goRt said:

Rheumatoid said:

VNX said:

Seven years is a very long fix. Of course it’s personal decision and we won’t know until 2030 how good a deal it turns out to be, could be a stroke of genius but for me I wouldn’t want to fix for as long as that 

I like annual interest on longer fixes as it spreads the interest payments over numerous tax years as this account does 

I'm probably with you on the length of fix but why does it make any difference taxwise whether interest is paid annually or at end of term if it is in an ISA?

Is there some implication on the value of a FSCS claim should one be required?

See note 14

https://www.legislation.gov.uk/ukpga/2009/10/notes/division/1/33?view=plain

Like any fix, if you want to be fully protected you need to factor in your interest at the end of the term if you want to stay under the £85K limit.

Rheumatoid

goRt said:

Rheumatoid said:

VNX said:

Seven years is a very long fix. Of course it’s personal decision and we won’t know until 2030 how good a deal it turns out to be, could be a stroke of genius but for me I wouldn’t want to fix for as long as that 

I like annual interest on longer fixes as it spreads the interest payments over numerous tax years as this account does 

I'm probably with you on the length of fix but why does it make any difference taxwise whether interest is paid annually or at end of term if it is in an ISA?

Is there some implication on the value of a FSCS claim should one be required?

Maybe, but why is that a tax issue?

VNX

Rheumatoid said:

VNX said:

Seven years is a very long fix. Of course it’s personal decision and we won’t know until 2030 how good a deal it turns out to be, could be a stroke of genius but for me I wouldn’t want to fix for as long as that 

I like annual interest on longer fixes as it spreads the interest payments over numerous tax years as this account does 

I'm probably with you on the length of fix but why does it make any difference taxwise whether interest is paid annually or at end of term if it is in an ISA?

My apologies I got in a muddle thinking the seven year account was savings account and not an ISA.

Consumerist

VNX said:

Rheumatoid said:

VNX said:

Seven years is a very long fix. Of course it’s personal decision and we won’t know until 2030 how good a deal it turns out to be, could be a stroke of genius but for me I wouldn’t want to fix for as long as that 

I like annual interest on longer fixes as it spreads the interest payments over numerous tax years as this account does 

I'm probably with you on the length of fix but why does it make any difference taxwise whether interest is paid annually or at end of term if it is in an ISA?

My apologies I got in a muddle thinking the seven year account was savings account and not an ISA.

Mine too. I made the same mistake but deleted the post immediately after posting. Sorry for any inconvenience.

ForumUser7

Catbells said:

pookey said:

Catbells said:

As mentioned above it probably won't be needed unless she will hit the maximum tax free interest threshold. 

Off the top of my head the Barclays rainy day saver offers 5.12% but needs 2 make requirements to make it free. 

Thanks.  Do you know what the requirements are for the Barclays rainy day saver? Will look also.

“ Members-only cash rewards - Collect a £5 cash reward for every month you successfully pay two direct debits from your current account. ”

This negates the £5 fee meaning overall no fee, but also overall no cash reward. You are then free to earn your interest on the rainy day saver, and not have to use any of it to pay the fee

https://www.barclays.co.uk/current-accounts/blue-rewards/

andyhicks88

Hi, can anyone tell me does the Shawbrook 1yr/2yr fixed ISA's allow payments in at any time during the term?  Somebody told me they did but can't seem to find that info on the products pages.

pookey

Kazza242 said:

Kazza242 said:

nomorekids said:

Anyone already got or know if you can have the two versions of Yorkshire Loyalty Six ISA? The branch version and the online?

Just wondering if on/just after the 6th, I could open the branch based one for another £20000 at 4.25%

I have a branch-based (though I can also operate it online) YBS Loyalty Six Access ISA (issue 2) opened in April 2022. 

Last month, I applied for the Loyalty Six Access Saver e-ISA (issue 2) online and transferred my previous years ISA subscriptions to it.  

In late March, I also posted a product switch form to a YBS branch asking them to switch my branch-based Loyalty Six Access ISA (issue 2) to issue 3.  They called a few days later to confirm that this would be ok.  They are performing the switch later this week. 

If all goes well, then I'll be earning 4.25% on the first £20K of both ISAs.  I'll also report back on how it goes.    

I can confirm that it is possible to have both of the following ISAs:

YBS Loyalty Six Access Saver e-ISA issue 2 (Internet-based)

and

YBS Loyalty Six Access Saver ISA issue 3 (branch/postal)

I now have both of them.  I opened the new Loyalty Six Access Saver e-ISA issue 2 last month (4.25% on the first £20,000 and 3.75% above that) and today YBS performed a Product Switch on my existing branch-based Loyalty Six Access ISA (issue 2) which I opened in April 2022, and switched it into the Loyalty Six Access Saver ISA issue 3.

Therefore, I am now earning 4.25% on the first £20,000 in both the issue 2 and issue 3, so £40,000 is earning the higher rate.

(To qualify for the Loyalty products, you have to have had an open account, savings or mortgage with Yorkshire Building Society for at least 12 months prior to applying).

Hi I opened the e ISA on the end of last month and filled it with last year tax allowance. Can I open the branch/ post based account for this tax year please?

I've contacted YBS but have been given different answers and I have no idea who is correct? 

refluxer

andyhicks88 said:

Hi, can anyone tell me does the Shawbrook 1yr/2yr fixed ISA's allow payments in at any time during the term?  Somebody told me they did but can't seem to find that info on the products pages.

This is possible according to their fixed ISA T&Cs but another forum member has been given conflicting info over the phone and the confirmation email Shawbrook send out also says something different.

You can follow the discussion on this very subject (which occurred between 10th and 13th April) from this post onwards... 

https://forums.moneysavingexpert.com/discussion/comment/79981559/#Comment_79981559