Cash ISAs: The Best Currently Available List

Woodyrocks

Kazza242 wrote: »

You're welcome!

Yes, there's been a lot of rate changes over the last week. It might be worth hanging on until late Feb/early March before switching as there's bound to be a lot of new ISA launches then.

A lot of MSEs will be transferring out of the Barclays Tax Beater ISA over the coming months, so it'll be interesting to see what is available then.

As it stands it seems Icesave will be where I am headed as they allow money to be transfered in from prior years. My only worry is that I already have a savings account stashed there and I don't want to risk/invest too much money with one bank :eek:

daveonline

Halifax fixed rates down again ! From 30-1-08, 1yr fix now 5.8%.

manic_saver

daveonline wrote: »

Halifax fixed rates down again ! From 30-1-08, 1yr fix now 5.8%.

Yes a very sharp fall considering the rate was 6.4% at the beginning of last month. Then a couple of weeks ago it was 6.3%...do the banks know something that we don't?

Just imagine how much interest you would be losing for e.g £3000 = £18.00 (interest)

Exceller8

Dont know if anyone else has posted this but lloyds have a 1 year fixed rate ISA @ 6.5% for £9000 + transfer in acc i used it to transfer in previous years from A+L. T+C apply Very helpful cs Freephone No http://www.lloydstsb.com/savings/fixed_rate_cash_isa.asp

SalsaDanca

Ditto, phoned Lloyds first thing this morning, and they couldn't have been more helpful. The account is fixed (tiered rate) interest for one year from the day you open it, you can make additional transfers in at any time, and pay in cash at the start of the next tax year. The account will be available until the end of May, and apparently it will not be withdrawn early no matter how popular it is.

You can increase the rate to 8% (or possibly more, wasn't interested in this bit) by opening an investment ISA with Lloyds.

Kazza242

The first post has been updated to include the new Lloyds TSB 1 Year Fixed Rate ISA paying 6.50%.

Also added to the first post is the new Derbyshire BS Loyalty ISA paying 6.25% (to members of 120 months or more). It guarantees to pay BOE base rate + 0.75% until 5th April 2009.

The Halifax Fixed ISA rates have been changed and the B&B 1 Year fixed ISA has been withdrawn so I've removed it from the list. There'll be another update this weekend.

purplestar133

Hi everyone,

I've heard mention of the ISA subscription limit going up next year. Just to be sure can someone confirm how much we'll be able to put in an ISA 2007/8?

Thanks!

Kazza242

purplestar133 wrote: »

Hi everyone,

I've heard mention of the ISA subscription limit going up next year. Just to be sure can someone confirm how much we'll be able to put in an ISA 2007/8?

Thanks!

The mini Cash ISA limit for 2007/8 will remain as £3,000. For 2008/9 it goes up to £3,600. More info in this article.

flummuxed

Hi everyone,

I was wondering if someone might be able to advise on a ISA issue I have. I currently have two years worth of full ISA allowances in NS&I (plus interest earned). I have however recently been eyeing up the ICESave mini-cash account which pays slightly higher than NS&I and has a rate guarantee that currently betters what NS&I promise (their guarantee runs out beginning of April this year). My questions are:

If I was transfer from NS&I to IceSave right now then how do I know how much interest I have earned to date? Internet account only shows deposits and last year’s interest currently – I presume maybe that I will be informed of what this amount will be upon transferring?

Do NS&I impose a penalty for transferring out? I can’t see anything in their small print.

Is it possible that we might see a positive change in the NS&I deal in the coming weeks/ months that means it would be worth me holding on a little while before transferring to another provider?

Many thanks in advance!

F

Kazza242

flummuxed wrote: »

Hi everyone,

If I was transfer from NS&I to IceSave right now then how do I know how much interest I have earned to date? Internet account only shows deposits and last year’s interest currently – I presume maybe that I will be informed of what this amount will be upon transferring?

Yes, that's correct. When you transfer out any interest accrued up to that point will be added to the closing cheque that is sent to the new provider by NS&I. They should be able to tell you how much this is.

flummuxed wrote:

Do NS&I impose a penalty for transferring out? I can’t see anything in their small print.

No, NS&I don't impose a penalty if you wish to transfer out.

flummuxed wrote:

Is it possible that we might see a positive change in the NS&I deal in the coming weeks/ months that means it would be worth me holding on a little while before transferring to another provider?

Many thanks in advance!

F

You never know. NS&I have accumulated a lot of ISA funds from people opening their ISA, so I'd imagine they will want to retain the funds by offering a rate guarantee. However, you have to weigh up that possibilty with the length of time a transfer out would take if initiated during the busy ISA period (March & April). Sometimes it's better to look at what's available now, rather than waiting for a provider to offer something they may not.