Cash ISAs: The Best Currently Available List

aaj123

Among fixed rate ISAs, is M&S still the one with the lowest early access penalty? Any others that are worth exploring for low penalty?

refluxer

aaj123 said:

Among fixed rate ISAs, is M&S still the one with the lowest early access penalty? Any others that are worth exploring for low penalty?

Virgin is the one that springs to mind and they're currently the only one in the top 5 for a 1 year fix who are less than 90 days. Some can actually be higher - eg. Santander's 120 day penalty applies to it's 12, 18 and 24 month fixed rate cash ISAs. 

Virgin's lower penalty could potentially be a reason for some to choose them over a competitor if the rates are similar but M&S fixed ISA rates are so low (relative to the current best rates) that it's quite likely that you'd end up shooting yourself in the foot by choosing them based on withdrawal penalty alone.

Unfortunately, I don't think even MoneyFacts' advanced search lets you filter by penalty. 

Rich2808

Does anyone know if you can open/hold the YBS loyalty six access e-ISA issue 2

https://www.ybs.co.uk/savings/product?id=YB941685W

and the

Loyalty six access ISA saver issue 3 (post/branch) at the same time 

https://www.ybs.co.uk/savings/product?id=YB891684B

It suggests so as they are different issues - 2 and 3. But they are effectively the same product in terms of structure and rates - just how you open them is different.

Apologies if this has already been answered - I have the first and have requested an application form in the post for the latter.

Kazza242

Rich2808 said:

Does anyone know if you can open/hold the YBS loyalty six access e-ISA issue 2

https://www.ybs.co.uk/savings/product?id=YB941685W

and the

Loyalty six access ISA saver issue 3 (post/branch) at the same time 

https://www.ybs.co.uk/savings/product?id=YB891684B

It suggests so as they are different issues - 2 and 3. But they are effectively the same product in terms of structure and rates - just how you open them is different.

Apologies if this has already been answered - I have the first and have requested an application form in the post for the latter.

Yes, you can have both the YBS Loyalty Six Access Saver e-ISA (issue 2) and Loyalty Six Access ISA Saver (issue 3) as they are completely different accounts and issues numbers.

I have both of them, which I opened in March and April 2023 respectively.  

(For anyone else reading this.  You must have an open account (savings or mortgage) with Yorkshire Building Society for at least the 12 consecutive months prior to applying for the Loyalty Six Access ISA and/or Loyalty e-ISA.  To open the Loyalty e-ISA you also have to be already registered for YBS online access).

pookey

Rich2808 said:

Does anyone know if you can open/hold the YBS loyalty six access e-ISA issue 2

https://www.ybs.co.uk/savings/product?id=YB941685W

and the

Loyalty six access ISA saver issue 3 (post/branch) at the same time 

https://www.ybs.co.uk/savings/product?id=YB891684B

It suggests so as they are different issues - 2 and 3. But they are effectively the same product in terms of structure and rates - just how you open them is different.

Apologies if this has already been answered - I have the first and have requested an application form in the post for the latter.

Yes you can. I opened the online one in March for the previous tax year and then opened one in a branch party week

GalacticaActual

NS&I have today increased the rate on its Direct ISA from 2.15% to 2.40%, which is still well below the best ISA rates available.

NS&I have left their other interest rates untouched for now, i.e. Direct Saver, Income Bonds.

Easy access savings | Savings accounts | NS&I (nsandi.com)

andyhicks88

Hi all, I just opened the Shawbrook 2yr ISA that is advertised as a 4.40% interest rate but then in the confirmation e-mail the rate is stated as 4.31%?  It's defo 4,40% on the website.  Is this a known issue/mistake with Shawbrook or do you think I should contact them?

pecunianonolet

andyhicks88 said:

Hi all, I just opened the Shawbrook 2yr ISA that is advertised as a 4.40% interest rate but then in the confirmation e-mail the rate is stated as 4.31%?  It's defo 4,40% on the website.  Is this a known issue/mistake with Shawbrook or do you think I should contact them?

You probably selected monthly interest so it's 4.31% gross and 4.4% AER

andyhicks88

pecunianonolet said:

andyhicks88 said:

Hi all, I just opened the Shawbrook 2yr ISA that is advertised as a 4.40% interest rate but then in the confirmation e-mail the rate is stated as 4.31%?  It's defo 4,40% on the website.  Is this a known issue/mistake with Shawbrook or do you think I should contact them?

You probably selected monthly interest so it's 4.31% gross and 4.4% AER

Thanks. Does that mean I get less interest then by having it monthly? Sorry this has always confused me slightly!

flobbalobbalob

I use this online tool to check monthly vs annual
https://www.lemonfool.co.uk/financecalculators/apr-rate-converter.php