Cash ISAs: The Best Currently Available List

TheBanker

saitorama said:

A lot of people are going for 1 year fixed - is there a reason for avoiding 2 year fixed ISAs? I understand the broad expectation is for interest rates to remain static for a year but after that it is a lot more uncertain? 

UBL UK has the best 2 year fixed rate but reviews seem to be terrible - would anyone have any experience with them? I'm looking for monthly interest payments, but perhaps failing UBL UK, Skipton BS 18 month ISA is best (would have gone for 30 months if it hadn't closed yesterday!)

My reason is personal to me - my mortgage fixed rate expires next May. I might decide to make an overpayment, depending on what happens to interest rates between now and then, so don't want to tie any money up for longer than a year. If I didn't have the mortgage to consider, I'd be tempted by a 2 year fix for a small portion of my savings. 

soulsaver

Just an option/idea for those looking for a safety net against falling rates:

Lloyds bank 2 year fixed at 4.20% (4.25 for existing customers) allows top ups throughout the term. 

So 4.25% isn't great? Well you can open it with £3k and then, under the new rules, open the best 1 year fix elsewhere. .

Next April, if rates have fallen below the 4.25, transfer it in to lloyds and add up to another £20k... and you've got another year at 4.25%.. and maybe transfers in, too.
Cash ISAs - See our ISA interest rates | Lloyds Bank

2010

1yr fix at 5% still available if you already have an account at Aldermore.

Reed_Richards

soulsaver said:

Just an option/idea for those looking for a safety net against falling rates:

Lloyds bank 2 year fixed at 4.20% (4.25 for existing customers) allows top ups throughout the term. 

I looked at this account and went so far as to read the Terms and Conditions but I could not find any reference as to whether or when top-ups were allowed.  Can you point me to this, please?

andyhicks88

Looking at Savings Guru and I'm drawn to some of the ISA's that are flexible but then at the same time some of them also state additions can only be made within the first 30 days or whatever? Surely that's not flexible then?  Isn't flexible that you can take money out and replace it? How can you replace it if you can't make further additions?!

Steve_xx

2010 said:

1yr fix at 5% still available if you already have an account at Aldermore.

It may be showing, but it's not available.

Clicker9180

The best 1 year fix is 4.91% (Shawbrook) and the best variable cash ISA is 5.17% (Plum). Why shouldn't I just go for the flexible one? Is there general expectation that interest paid on the ISA will be go within the next 12 months?

CuparLad

OakNorth Savings

OakNorth have just sent an eMail helpfully clarifying the new ISA rules, but stating that they won't be offering the ability to open multiple ISAs with them in the same tax year "just yet". They do clarify that if you opened an ISA with them in the 2023/24 tax year, you can open another one with them in the current tax year.

soulsaver

Reed_Richards said:

soulsaver said:

Just an option/idea for those looking for a safety net against falling rates:

Lloyds bank 2 year fixed at 4.20% (4.25 for existing customers) allows top ups throughout the term. 

I looked at this account and went so far as to read the Terms and Conditions but I could not find any reference as to whether or when top-ups were allowed.  Can you point me to this, please?

From Cash ISAs - See our ISA interest rates | Lloyds Bank scroll down nearly to bottom right (on PC) just above FSCS bumph, 'Manage your account'; click 'Top Up Your ISA'

and you get to here: Top up your ISA | UK ISAs | Lloyds Bank

Top up your ISA

"Before applying for a new account you should check whether topping up an existing ISA would be more beneficial for you.

Top up your existing ISA online or transfer funds from an ISA held with another provider to maximise your ISA allowance. You can either set up a regular payment, pay in a lump sum or top up as often as you like, up to this year’s tax-free ISA limit. "

Well buried...

Rheumatoid

Clicker9180 said:

The best 1 year fix is 4.91% (Shawbrook) and the best variable cash ISA is 5.17% (Plum). Why shouldn't I just go for the flexible one? Is there general expectation that interest paid on the ISA will be go within the next 12 months?

The Plum rate might go below 4.91 during the year.