Cash ISAs: The Best Currently Available List

jak22

I'm confused by something in the Zopa fixed ISA 'Summary Box'.

With a 5 Year fix they quote an AER of 4.01% (3.93% gross). They say interest is paid monthly but accessible at term end, They confirm that an AER shows the rate you'd get with monthly interest compounded and paid once a year.

But the illustration for balance of a "fixed term ISA pot at the end of the term based on a £1000 deposit" is shown as £1040.10 for the 5 year fix - the interest would surely amount to 5 times that - plus compounding - after the 5 year term?

Looking at Gatehouse for example, their illustration is "Estimated balance at the end of the term based on a £1,000 deposit £1,210.81"

kitkat68

Shawbrook need to be clearer but I think from reading this thread I can add £20k new money to the one account I have with them that is now called a Maturity Bond as in March 24 it matured and refined with them for another 12 months at 5.03%  

Or does this count as reaching the end of its term and is now closed?

Ted_01

@Shedman - reading your discussion above I thought I'd copy and paste the 'RECEIPT OF DEPOSIT' eDocument I just received from Shawbrook...

Deposit received: £14,000.00
Date deposit received: 09/04/2024
Balance of your account: £15,000.00
Remaining ISA allowance this tax year: £5,000.00
You can add money any time you like, as long as this account remains on sale. If we stop selling this

account then you cannot add any more funds, even if you have not used your full ISA allowance. We
will not contact you if this happens, but you can check Shawbrook.co.uk for a list of withdrawn
accounts.
Thank you for saving with Shawbrook.

2010

Skipton 18m fixed ISA cut to 4.6% from 4.75%.

CuparLad

Close Brothers

A bit of information for everyone who might consider saving with Close Brothers. If you need to send an ISA transfer form via post rather than providing the transfer details at time of application, you are instructed to send the transfer form to Close Brothers, 10 Crown Place, London, EC2A 4FT. However, there is a redirection at that address, which redirects mail to Derbyshire. Therefore, your transfer form takes a minimum of TWO days to get to them, not one (notwithstanding Royal Mail performance). Since Close Brothers only allow 10 days from opening to get transfers in for fixed products, don't leave it to the last minute to get your form in.

soulsaver

Shedman said:

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.

Apologies. The 'your' didn't mean you, it meant any readers. I copied and pasted a prior post of mine and was about to edit it further when I was interrupted.

So, Half a bottle of Shiraz later .. I have done: 'It's 3rd bullet in the Terms & Conditions for one's records'.

Anyway money where my mouth is - I opened one for OH this morning, implementing the plan to add £1k now, feed the KRBS 5.04% fix (that rate is NLA) throughout year1 as her funds allow (maturity going to her SIPP) then feed the Shawbrook one again in the 2nd year, if 4.50% is then best ISA 1 year rate.

I'm just considering whether to lock in the Shawbrook Isa 4.38% for 3 year fix... 

Eta Have done done the 3 year, for me, too.

nomorekids

Bridlington1 said:

Melton BS has launched a Regular Saver ISA at 5% variable.
Branch/post only
Account can be opened with £1
£1650 max monthly deposit, except in final month in which you can top up the account to £20k
Closure/transfers out subject to 90 days interest penalty

has anyone got an application form link?

Aidanmc

nomorekids said:

Bridlington1 said:

Melton BS has launched a Regular Saver ISA at 5% variable.
Branch/post only
Account can be opened with £1
£1650 max monthly deposit, except in final month in which you can top up the account to £20k
Closure/transfers out subject to 90 days interest penalty

has anyone got an application form link?

Just click 'Apply Now'  button at bottom of this page, accept the terms and a form will be downloaded

https://www.themelton.co.uk/tax_free_savings/regular-saver-isa/

Rich2808

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 - the terms and conditions don't appear to have changed. Lloyds don't actively advertise it - but I can still transfer in/pay in seven months post opening! And have just done one.

Frogletina

Rich2808 said:

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 - the terms and conditions don't appear to have changed. Lloyds don't actively advertise it - but I can still transfer in/pay in seven months post opening! And have just done one.

I've opened one without paying any money in yet and I was told via chat that there isn't a time limit for paying in the £3000. If this is the case, I'll only pay in if Isa rates get near to 4.25%. I looked online, and it seems that it just needs to be by the end of the first tax year.