Cash ISAs: The Best Currently Available List

Steve_xx

Bigwheels1111 said:

Zuzi said:

Lloyds have indeed increased their 1 year and 2 year fixed rates, as per that Express article last week - with a preferential bonus of 0.05 for current account holders you now get 5.5% on one year and 5.55% on two years.

Just tried to open one of them, and it asks you where you want to receive the interest. Say I want it to go monthly to my current account with a different bank - will it still be tax-free?? It will leave the "wrapper" as I see it, so thought I would double-check...

ISA interest is tax free, the end.
Interest would be paid into your nominated account, then you can send it we’re you want.

Yes, the ISA interest is certainly tax free, but once that interest is paid to an account outside of the ISA it is no longer accumulating interest within the ISA!

Zuzi

Great, thanks for the replies. I don't want to divert the focus on this thread, I will just need to remember that the interest coming out of the ISA does not count towards my taxable income, wherever it goes. I will seriously consider having it stay in the ISA too, especially at the good rate.

SnowMan

ForumUser7 said:

Principality Online ISA -> 4.20% ~ MoneyFacts

Now showing on their website

https://www.principality.co.uk/savings-accounts/isas/Online-ISA

1jim

Quick double check. Isa interest is not taxed, but does the total interest count as income for child benefit calculations/income tax purposes? 

doodlector

1jim said:

Quick double check. Isa interest is not taxed, but does the total interest count as income for child benefit calculations/income tax purposes? 

No it's not counted and you don't need to report it.

wiseonesomeofthetime

Feel that my ISA funds from previous years are now languishing in what was a highly attractive 18-month Fixed ISA with Santander only three months ago!

Funny thing (in the loosest sense), is that I transferred them from Virgin Money to Santander, and now Virgin Money smashes that 4.25% rate, albeit for twice as long a commitment.

With my Santander Fixed ISA opened up less than 120 days ago, I would have to take a cut in funds in order to transfer.

Decisions, decisions 🤔

dlevene

ForumUser7 said:

Principality Online ISA -> 4.20% ~ MoneyFacts

Nice. I'd made my peace with staying put with Coventry until the next BoE decision but good to see they're still creeping upwards.

Almost at parity with normal EA, which is great. Though I'm still salty about missing out on the YBS loyalty ISA which I think is now at 5%!

wiseonesomeofthetime

dlevene said:

ForumUser7 said:

Principality Online ISA -> 4.20% ~ MoneyFacts

Nice. I'd made my peace with staying put with Coventry until the next BoE decision but good to see they're still creeping upwards.

Almost at parity with normal EA, which is great. Though I'm still salty about missing out on the YBS loyalty ISA which I think is now at 5%!

Yeah, that is the one account that has worked in my favour, for a change

refluxer

wiseonesomeofthetime said:

Feel that my ISA funds from previous years are now languishing in what was a highly attractive 18-month Fixed ISA with Santander only three months ago!

Funny thing (in the loosest sense), is that I transferred them from Virgin Money to Santander, and now Virgin Money smashes that 4.25% rate, albeit for twice as long a commitment.

With my Santander Fixed ISA opened up less than 120 days ago, I would have to take a cut in funds in order to transfer.

Decisions, decisions 🤔

Have a play with MSE's 'Ditch my fixed cash ISA?' calculator.

My 18 month Santander fix @ 4.25% has about 15 months left to run, so the break-even rate for me is around 5.40%, taking into account the large (120 day) penalty.

I'd be wanting a 3 figure difference to make it worth switching though, so I'll probably start to think about it if and when fixed rates hit 6%.

Harry227

SnowMan said:

ForumUser7 said:

Principality Online ISA -> 4.20% ~ MoneyFacts

Now showing on their website

https://www.principality.co.uk/savings-accounts/isas/Online-ISA

My online ISA account with the Principality comes to an end (bonus period) at the end of this month.  Does anyone know if I need to close and then open a new online ISA to get the improved rate?