Cash ISAs: The Best Currently Available List

Clicker9180

Rheumatoid said:

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. 

But then surely the variable interest going down a lot must be the general expectation right? Because logically, if the BoE base rate is expected to stay the same, an easy access ISA should have lower rate than a 1 year fix, because you don't get punished for withdrawing money.

Rheumatoid

Clicker9180 said:

Rheumatoid said:

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. 

But then surely the variable interest going down a lot must be the general expectation right? Because logically, if the BoE base rate is expected to stay the same, an easy access ISA should have lower rate than a 1 year fix, because you don't get punished for withdrawing money.

Yes. You just need to look at the rates being offered for longer term fixes

ctdctd

Shawbrook 4.91% and Zopa 4.9% are gone.

Rich2808

soulsaver said:

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...

I can confirm this - I can still top up my Lloyds fixed rate isas (new money or isa transfers) seven months post opening including in the current (new) tax year. 

It can easily be done online via online banking. The process is very efficient with Lloyds - literally done within 2-3 working days in terms of every transfer I have done including one done just recently when they would have been busy with tax year end transfers/account openings. 

They are a good hedge - in the event rates drop sharply - as you could pay into a two year fixed rate isa opened now up to April 2026. And if rates don't drop - put your new money elsewhere.

SickGroove

Rich2808 said:

Ysoulsaver said:

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...

I can confirm this - I can still top up my Lloyds fixed rate isas (new money or isa transfers) seven months post opening including in the current (new) tax year. 

It can easily be done online via online banking. The process is very efficient with Lloyds - literally done within 2-3 working days in terms of every transfer I have done including one done just recently when they would have been busy with tax year end transfers/account openings. 

They are a good hedge - in the event rates drop sharply - as you could pay into a two year fixed rate isa opened now up to April 2026. And if rates don't drop - put your new money elsewhere.

So, with this one (I'm an existing Lloyds customer) I can open now with 3K and arrange a transfer in of a previous years oddment cash ISA of 2.5K from Gatehouse....

Then in mid may I can transfer the remaining 17K for 24/25 allowance (if rates elsewhere dropped by then) then in 25/26 if again rates dropped elsewhere, I can still put the full new 20K allowance straight into here, without opening another cash ISA?

auser99

ctdctd said:

Shawbrook 4.91% and Zopa 4.9% are gone.

Wow they don't hang about.

Luckily for once, I've actually nabbed something before it's gone, with £1 in there for now, and the rest on way!

badger09

SickGroove said:

Rich2808 said:

Ysoulsaver said:

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...

I can confirm this - I can still top up my Lloyds fixed rate isas (new money or isa transfers) seven months post opening including in the current (new) tax year. 

It can easily be done online via online banking. The process is very efficient with Lloyds - literally done within 2-3 working days in terms of every transfer I have done including one done just recently when they would have been busy with tax year end transfers/account openings. 

They are a good hedge - in the event rates drop sharply - as you could pay into a two year fixed rate isa opened now up to April 2026. And if rates don't drop - put your new money elsewhere.

So, with this one (I'm an existing Lloyds customer) I can open now with 3K and arrange a transfer in of a previous years oddment cash ISA of 2.5K from Gatehouse....

Then in mid may I can transfer the remaining 17K for 24/25 allowance (if rates elsewhere dropped by then) then in 25/26 if again rates dropped elsewhere, I can still put the full new 20K allowance straight into here, without opening another cash ISA?

Yes & Yes
Yes & Yes

Shedman

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. 

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

Shawbrook 2 year at 4.5% (or even 3 years @ 4.38%) would be better and you only need deposit £1,000.

Spoke to Shawbrook CS yesterday (as was concerned about funding an issue 79 this tax year that I opened in March and didn't fund in 23/24 and which was no longer on sale) and she said that, although it says in the Welcome Letter that you can only fund until the product/issue is withdrawn, they have always continued to allow funding throughout the fixed period (and transfers in) for as long as she has worked there which is several years.  The KPI  (in the bullet points down below the main verbiage and headed Terms and Conditions) also states that they allow for funding throughout the term so again at odds to the Welcome Letter.  

• Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term.

So a bit contradictory what they put out but I feel suitably reassured and so have put £1k in (which has appeared in the account)

soulsaver

Indeed the Shawbrook may be a better choice, 2 year only just been released.

Should you choose to use this, note the terms are quite clear that you can add after the products withdrawal:
2-year-fixed-rate-cash-isa-bond-80-2.pdf (shawbrook.co.uk)

It's 3rd bullet in the Terms & Conditions for one's records.

"Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term"

Shedman

soulsaver said:

Indeed the Shawbrook may be a better choice, 2 year only just been released.

Should you choose to use this, note the terms are quite clear that you can add after the products withdrawal:
2-year-fixed-rate-cash-isa-bond-80-2.pdf (shawbrook.co.uk)

It's not the first time I've posted the point 3rd bullet in the terms & Conditions for your records.

"Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term"

Unfortunately although the terms that we both posted (and I accept that you no doubt posted them previously along with many other helpful posts) appear to be clear, I was more making my post in case others are put off by their Welcome Letter which includes "You can make deposits into your account until the product has been withdrawn from sale. To check whether a product has been withdrawn, please visit the withdrawn products section of our website www.shawbrook.co.uk."   

As Issue 79 was withdrawn on March19th and does appear in their Withdrawn Savings products list it certainly made me unsure which one of the two statements, which appear contradictory, overrode which and I'm sure others will also be confused by that deposit timescale statement in their Welcome Letter.