Cash ISAs: The Best Currently Available List

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. 

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!