Cash ISAs: The Best Currently Available List

gwapenut

t1redmonkey said:

I've just noticed the Chip ISA has been reduced down to 4.84%.

It tracks the base rate.

Dizzycap

fletcher1985 said:

just been on chip and my isa has dropped from 5.10% to 4.84%

Yes, and without any notice!

I've just transfered my Chip ISA to Trading 121 who are still presently offering 5.2% - Although, if you need to withdraw monies, expect to wait 3 days for monies to arrive in your nominated account.

Growingold

ZOPA Smart ISA reducing to 4.80% (including bonus) on 19th August.    A decrease of 0.28%

rallycurve

Shawbrook 1 year fixed cash ISA reduced today to 4.68% (from 4.96%)

gele

rallycurve said:

Shawbrook 1 year fixed cash ISA reduced today to 4.68% (from 4.96%)

That makes their maturity offer at the original 4.96% look more appealing. I was deliberating if to go with this or to go with the 2 year option at 4.64%

drphila

rallycurve said:

Shawbrook 1 year fixed cash ISA reduced today to 4.68% (from 4.96%)

All other Shawbrook fixed term isas now reduced as well.

gele

drphila said:

rallycurve said:

Shawbrook 1 year fixed cash ISA reduced today to 4.68% (from 4.96%)

All other Shawbrook fixed term isas now reduced as well.

Wow!! I just checked the new rates. 2 year 3.78% ,  3 year  3.69%.  That's a big drop.
We've got too comfortable seeing 5% everywhere recently its a bit of a shock.

westv

I've noticed that Virgin currently has a 1 year fixed rate ISA of 4.61% which is bit better than a couple of ISAs I already have with them. I know I can transfer these over but I'm unsure of the charges I'd incur for closing the current ISAs early. I remember seeing the info when I opened them but I've looked at my accounts online and there is no info that I can see. Am I looking in the wrong place?

Edit: I think it might be 60 days loss of interest and a further calc seems to show it may not be worth it.

refluxer

westv said:

I've noticed that Virgin currently has a 1 year fixed rate ISA of 4.61% which is bit better than a couple of ISAs I already have with them. I know I can transfer these over but I'm unsure of the charges I'd incur for closing the current ISAs early. I remember seeing the info when I opened them but I've looked at my accounts online and there is no info that I can see. Am I looking in the wrong place?

Edit: I think it might be 60 days loss of interest and a further calc seems to show it may not be worth it.

Yes, Virgin usually have a 60-day loss of interest for withdrawing or transferring away from their 1 year fixed rate cash ISAs before maturity. This is actually pretty low, as most charge a 90-day penalty and some (eg. Cynergy) are as high as 180 days. 

If you were looking at transferring out, it would make sense to look at one of the higher-paying 1 year rates with another provider (currently around 4.85 to 4.91%) rather than Virgin's 4.61%.

Did you find the MSE calculator ? That'll tell you whether a change is worth it but if you're approaching the maturity dates of these existing ISAs and 4.61% is only slightly higher, than it's unlikely to be worth switching as the benefit of the higher rate may not compensate for the penalty (as you've presumably discovered).

flaneurs_lobster

refluxer said:

If you were looking at transferring out, it would make sense to look at one of the higher-paying 1 year rates with another provider (currently around 4.85 to 4.91%) rather than Virgin's 4.61%.

Virgin have a 1 yr fixed ISA at 5.05% but it requires you to have a current account with them.