Cash ISAs: The Best Currently Available List

2010

CompulsiveSaver said:

2010 said:

uk1 said:

2010 said:

uk1 said:

Virgin 1 year up to 5.76%.  Only a cup of tea but it nudges the clock!

Have you missed the Virgin shuffle on this one?

I`m still sitting on an (not Virgin) EA waiting for more rises.

No.  To do two has taken a couple of minutes but gives me an extra week or so on the clock.  I think it’s a difference of £20 for the two … but every little helps. 

I`m tempted by Virgin who seem to always be near the top or at it.
I thought Charter might have made a move higher by now.

I had a Virgin Money instant access ISA, but they seem to only review the rate every few months  , and I don't want my accounts to fall behind the best rates, so the money had to move elsewhere.

Thanks for that. But we were talking about their latest 1yr fix ISA at 5.76%.

2010

Charter has gone to 5.72% for a 1yr fixed ISA today.

https://www.chartersavingsbank.co.uk/Products/ISAs

Desk

Does anyone at this point anticipate an increase in fixed term ISA rates? Some of the information coming through suggests inflation may be cooling, and the city predictions for peak base rate have come down, but given the track record I'm not wholly convinced.

I'm in a situation where I'm about to approach the 14th and final day of my cooling-off period with Principality, and a five-year fixed rate ISA at 5.35%, which is pretty good.  I take it the cooling off is inclusive of the 14th day from the point of opening, which would be tomorrow?

Meanwhile, I've also secured the alternate option of two years at 5.9% with RBS.

I'm wondering if it's best to go with the two-year fix at a higher rate and leave my options open, which also buys me a little more coolling off time, and just live with it if rates have fallen off a cliff by the time this matures in August 2025. Given IESR's prediction the other day that we're likely to be in this position of higher rates for at least the next four years, however, I'm wondering if that's likely or if we're now fully moving back to being in line with the historic base rate averaging about 5%.

Any thoughts gratefully received before time runs out. Also, just to say that the recommendation someone offered me the other day of another savings option was good, and appreciated, but would have taken me over the FSCS limit.

2010

@Desk

The 14 day cooling starts from the date of funding.
If you think, like me, that rates still have further to go, transfer to an EA and wait and see.
The 2yr fix at 5,9% seems good at this point and what I`d probably take.
I`m more interested in a 1yr fixed ISA which I hope to see at 6% before years end.

Eirambler

Shawbrook now offering the best easy access ISA rate at 4.43%. 

The best easy access ISA is a long way behind the best easy access general savings account at present.

dlevene

Eirambler said:

Shawbrook now offering the best easy access ISA rate at 4.43%. 

The best easy access ISA is a long way behind the best easy access general savings account at present.

Yep. A week since the last BOE increase. At that point, the top easy access ISA was Shawbrook at 4.33%. Now they're topping the table at 4.43% (or, at a push, Monmouthshire at 4.5%, which is for existing customers only and allows 1 withdrawal).

So that's a like-for-like increase of 0.1%  against a bank rate increase of 0.25%. Pretty underwhelming!

steveksullivan

2010 said:

@Desk

The 14 day cooling starts from the date of funding.

What are you basing this on  ? If correct it means a Virgin ISA effectively has a six week cooling off period (30 days to fund plus 14)

Moneyfacts website and others state that the cooling off period usually starts when contract is signed .....

bristolleedsfan

.

steveksullivan said:

2010 said:

@Desk

The 14 day cooling starts from the date of funding.

What are you basing this on  ? If correct it means a Virgin ISA effectively has a six week cooling off period (30 days to fund plus 14)

Moneyfacts website and others state that the cooling off period usually starts when contract is signed .....

Moneyfacts states "This is often 14 days from the date you signed an agreement – the legal minimum – though can be 30 days depending on the product. After this time, you do not have the automatic right to cancel and the provider may hold you to an agreement or be entitled to levy extra fees or charges if you choose to withdraw.

Some providers may offer a longer cooling off period than the minimum dictated by law"

https://moneyfactscompare.co.uk/loans/guides/cooling-off-periods-explained/

Experiences have been (without any known stated exceptions) Cash iSA fixed term/rate starts upon funding, 14 days cooling off period starts then

Desk

Just spoke with Principality and their 14-day cooling off period begins from the point the account was opened, not funded, and so I have it confirmed I have until close of play tomorrow to decide.

The very pleasant lady I spoke with note that a lot of banks had been pulling their five-year ISAs in recent days, and so the 5.35% for five years seemed like I'd got a very good deal.

uk1

Desk said:

Does anyone at this point anticipate an increase in fixed term ISA rates? Some of the information coming through suggests inflation may be cooling, and the city predictions for peak base rate have come down, but given the track record I'm not wholly convinced.

I'm in a situation where I'm about to approach the 14th and final day of my cooling-off period with Principality, and a five-year fixed rate ISA at 5.35%, which is pretty good.  I take it the cooling off is inclusive of the 14th day from the point of opening, which would be tomorrow?

Meanwhile, I've also secured the alternate option of two years at 5.9% with RBS.

I'm wondering if it's best to go with the two-year fix at a higher rate and leave my options open, which also buys me a little more coolling off time, and just live with it if rates have fallen off a cliff by the time this matures in August 2025. Given IESR's prediction the other day that we're likely to be in this position of higher rates for at least the next four years, however, I'm wondering if that's likely or if we're now fully moving back to being in line with the historic base rate averaging about 5%.

Any thoughts gratefully received before time runs out. Also, just to say that the recommendation someone offered me the other day of another savings option was good, and appreciated, but would have taken me over the FSCS limit.

I personally don’t see much upside scope for any worthwhile increases over the immediate future and therefore over what you have access to.  I personally don’t want to tie up cash for 5 years so would be attracted to your 2 year option.  If you are younger and want to lock in then obviously 5 year might suit better.  I don’t think you would be overly disappointed with either option as stuff seems to  be getting less hydrated and a plump bird in the hand might be wiser than the opportunity of one slightly plumper or possibly scraggier in the future.

Obviously you know, but in case some others fall into the regular trap.  14 days from a Tuesday expires on a Monday not a Tuesday.

Good luck with your decision and do repost with your decision and rationale.