Cash ISAs: The Best Currently Available List

Catplan

Casper7 said:

2010 said:

Casper7 said:

2010 said:

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Thank you.
I was looking at Moneybox ISA of 4.65%

I couldn’t see on their website anything about the penalty of leaving them within the 12 months.

That`s because it`s a Triple  Access account.

• You can withdraw from your Cash ISA at any time to your linked UK bank account in your name.
• You can either withdraw the full balance held in your Cash ISA or withdraw part of the balance.
• Please note that if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA, this will impact the interest applicable to your account. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your account

So if let’s say I withdraw the money after 6 months. Will I still get the interest earned in the first 6 months? Do they deposit it in the ISA account?

Depends what you mean by withdraw, If it’s a flexible / Easy access ISA with for example 10k and you withdraw 5k no interest would be paid at withdrawal, if it would still be paid as per t&c’s. If you transferred the ISA to another ISA after 6 months the. Interest would also be transferred. I’ve had flexible ISA’s in the past and taken money out and replaced the interest is still paid annually.

Eirambler

Casper7 said:

2010 said:

Casper7 said:

2010 said:

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Thank you.
I was looking at Moneybox ISA of 4.65%

I couldn’t see on their website anything about the penalty of leaving them within the 12 months.

That`s because it`s a Triple  Access account.

• You can withdraw from your Cash ISA at any time to your linked UK bank account in your name.
• You can either withdraw the full balance held in your Cash ISA or withdraw part of the balance.
• Please note that if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA, this will impact the interest applicable to your account. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your account

So if let’s say I withdraw the money after 6 months. Will I still get the interest earned in the first 6 months? Do they deposit it in the ISA account?

If you were to close the account or have it transferred to a new ISA you would get the interest for the 6 months at the time of closure/transfer. If you withdrew the money but left the account open you wouldn't get the interest until the year was up, at this time it (i.e. six months worth of interest). would be added to the account for you.

Casper7

Eirambler said:

Casper7 said:

2010 said:

Casper7 said:

2010 said:

Casper7 said:

As I understand, if Bank of England increases interest, saving accounts and ISAs rates can go up as well right?

If true, then what is the best type of ISA account to open, in order to make it easy to jump into a higher rate new accounts when they open in the future?

Easy Access you can transfer to another ISA anytime.
Fixed is fixed and if you want to move to another ISA, there will be a penalty for doing so.
Anything from 60 to 120 days loss of interest, depending on the T&C.

Thank you.
I was looking at Moneybox ISA of 4.65%

I couldn’t see on their website anything about the penalty of leaving them within the 12 months.

That`s because it`s a Triple  Access account.

• You can withdraw from your Cash ISA at any time to your linked UK bank account in your name.
• You can either withdraw the full balance held in your Cash ISA or withdraw part of the balance.
• Please note that if you make four or more withdrawals within each 12 month period from the date of opening your Cash ISA, this will impact the interest applicable to your account. You’ll receive the lower rate exclusive of any bonus interest rate for the rest of that period after you’ve made four or more withdrawals. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your account

So if let’s say I withdraw the money after 6 months. Will I still get the interest earned in the first 6 months? Do they deposit it in the ISA account?

If you were to close the account or have it transferred to a new ISA you would get the interest for the 6 months at the time of closure/transfer. If you withdrew the money but left the account open you wouldn't get the interest until the year was up, at this time it (i.e. six months worth of interest). would be added to the account for you.

Thank you.
My plan is to open a Moneybox 4.65% cash ISA, transferring my old ISA to it, then monitor the market for any good rates coming out. When they do, I leave Moneybox for the better ones.

boingy

Virgin have just emailed me to say that their EA ISA has increased to 4.51% AER, effective 1st September. 

Silenced

Paragron now have a 5.82% 1 year fixed cash ISA https://online.paragonbank.co.uk/OFIS/MoreInfo.aspx?MoreInfoRef=FixedISA_1Year

RG2015

boingy said:

Virgin have just emailed me to say that their EA ISA has increased to 4.51% AER, effective 1st September. 

Me too.

However I cannot see why Virgin Money take a full week to notify their customers.

Fortunately it was posted on this thread the same day it took effect.

refluxer

A couple of small Easy Access Cash ISA increases...

Shawbrook Easy Access Cash ISA (Issue 25) up to 4.58% (making it the highest currently available... edit - without withdrawal restrictions)

Principality Online ISA up to 4.50%

dlevene

refluxer said:

Shawbrook Easy Access Cash ISA (Issue 25) up to 4.58% (making it the highest currently available)

Lower than Moneybox 4.65%, although it does have withdrawal restrictions 

refluxer

dlevene said:

refluxer said:

Shawbrook Easy Access Cash ISA (Issue 25) up to 4.58% (making it the highest currently available)

Lower than Moneybox 4.65%, although it does have withdrawal restrictions 

Ah, OK - I tend to use Savings Champion if I want a quick look at the top rates and it isn't listed there, for some reason. It's actually a bit of a bug-bear of mine that limited access accounts don't get their own category ! 

2010

Silenced said:

Paragron now have a 5.82% 1 year fixed cash ISA https://online.paragonbank.co.uk/OFIS/MoreInfo.aspx?MoreInfoRef=FixedISA_1Year

Your link doesn`t work.

https://www.paragonbank.co.uk/savings/cash-isas/one-year-fixed-cash-isa