Cash ISAs: The Best Currently Available List

pokemaster

We’re changing your Plum Cash ISA interest rate from 5.17% to 4.92% AER (variable). starting Tuesday 13th August 2024

Hammer_Time

lohr500 said:

flaneurs_lobster said:

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.

I jumped on their 5.05% 1 year fix a couple of days ago, with an instruction to transfer an existing Virgin 1 year fix when it matures on the 24th August.

The existing 1 year fix was opened last year without the need to have a Virgin current account.

But opening a current account with them on Tuesday was straightforward and there are no monthly fees associated with it. Might be handy for future offers as well which require a Virgin current account to access their "exclusive" saving rates. 

Excellent advice, I did the same today and mine also matures on the 24th.

savit4l8er

soulsaver said:

So, I don't know if this retrospective is useful/interesting - feel free to ignore

How my top-up-allowed-fixed-ISAs options look now, nearly a year on:

My Shawbrook 1 yr ftb 5.70% ISA matures in a couple of weeks.. (opened August '23 additional c.£20k transferred in Feb '24) -
I've submitted a transfer request to Lloyds  to transfer it at maturity in full to my Lloyds 2 year fix (opened Aug '23, £19.9K of new money added April 2024) to earn almost all of second year at 5.50%* (6.87% equiv. @ BR Tax Paid on interest) .

Other top-up options held:
Shawbrook 3 year Isa fix (04/24 -04/27) at c.4.40% (5.5% equiv) 

Bath BS 2 year fix ISA at 4.61% (5.76% equiv) £1 holding, £20K pfy max deposit (also qualifying after 1 year for their usually post code restricted, often useful RSs - (06/24 - 06/26) looks about right to take £20k of the Lloyds maturity Aug '25 - subject to nowt better being available.

Kent 5.71%..(7.14% equiv) but only a few months left.

*best 1yr fix at today is 5.05% VM.

Both Bath & Shawbrook can be beaten today (Beehive 4.73% 2 year, VM 5.05% 1year) but the next maturing ISAs for me are both late November - so that's the time to compare subject to funding/transfer windows at VM.

Transferring them to the Lloyds 2 year would take me over FSCS for 9 months  and may influence the decision.

Interesting to me. Lloyds 5.5 was a good option at the time 👍

drphila

soulsaver said:

So, I don't know if this retrospective is useful/interesting - feel free to ignore



Bath BS 2 year fix ISA at 4.61% (5.76% equiv) £1 holding, £20K pfy max deposit (also qualifying after 1 year for their usually post code restricted, often useful RSs - (06/24 - 06/26) looks about right to take £20k of the Lloyds maturity Aug '25 - subject to nowt better being available.

Does Bath allow transfers in? There is no mention of them in the Terms. It says £20k can be deposited per tax year but I assumed this was new cash.

soulsaver

drphila said:

soulsaver said:

So, I don't know if this retrospective is useful/interesting - feel free to ignore



Bath BS 2 year fix ISA at 4.61% (5.76% equiv) £1 holding, £20K pfy max deposit (also qualifying after 1 year for their usually post code restricted, often useful RSs - (06/24 - 06/26) looks about right to take £20k of the Lloyds maturity Aug '25 - subject to nowt better being available.

Does Bath allow transfers in? There is no mention of them in the Terms. It says £20k can be deposited per tax year but I assumed this was new cash.

Thanks - Bath confirms they don't currently accept transfers in. I can still use it as a new money option at April if the rate is then competitive...Which was prob my original safety net plan if rates dropped that far...
Edited my OP

Johnny-Cage

Was tempted to jump on trading 212 to max this years allowance out but it’s seems it’s only a matter of time before they drop the rates as well. Maybe might as well just max Chip out so it’s all together 

pecunianonolet

Johnny-Cage said:

Was tempted to jump on trading 212 to max this years allowance out but it’s seems it’s only a matter of time before they drop the rates as well. Maybe might as well just max Chip out so it’s all together 

I have some Euros at Trading 212 and was under the impression that when the ECB started to lower rates they would follow suit. However, they have kept the rate stable since then so there might be good change that the ISA rate of 5.2 remains a little longer competitive.

With daily payments of interest every day counts. Transfer in transactions did take a while in June so unless you pay in fresh money it could take 3 weeks before funds arrive, it may go much quicker now if they have less demand and can process things faster.

Johnny-Cage

pecunianonolet said:

Johnny-Cage said:

Was tempted to jump on trading 212 to max this years allowance out but it’s seems it’s only a matter of time before they drop the rates as well. Maybe might as well just max Chip out so it’s all together 

I have some Euros at Trading 212 and was under the impression that when the ECB started to lower rates they would follow suit. However, they have kept the rate stable since then so there might be good change that the ISA rate of 5.2 remains a little longer competitive.

With daily payments of interest every day counts. Transfer in transactions did take a while in June so unless you pay in fresh money it could take 3 weeks before funds arrive, it may go much quicker now if they have less demand and can process things faster.

Thx for the reply it is fresh cash got 17k dropping in to my current account from my 90 day Oxbury on the 19th. ATM I have 3k sitting in a Chip ISA for this year 

pecunianonolet

Johnny-Cage said:

pecunianonolet said:

Johnny-Cage said:

Was tempted to jump on trading 212 to max this years allowance out but it’s seems it’s only a matter of time before they drop the rates as well. Maybe might as well just max Chip out so it’s all together 

I have some Euros at Trading 212 and was under the impression that when the ECB started to lower rates they would follow suit. However, they have kept the rate stable since then so there might be good change that the ISA rate of 5.2 remains a little longer competitive.

With daily payments of interest every day counts. Transfer in transactions did take a while in June so unless you pay in fresh money it could take 3 weeks before funds arrive, it may go much quicker now if they have less demand and can process things faster.

Thx for the reply it is fresh cash got 17k dropping in to my current account from my 90 day Oxbury on the 19th. ATM I have 3k sitting in a Chip ISA for this year 

In that case if you pay in the 17k on Monday 19th you should receive the first interest payment on the 20th for the 19th and so on. Pay in during weekdays and business hours is pretty much instant. Let's hope the rate remains a it's level for some time :-)

slinger2

pecunianonolet said:

Johnny-Cage said:

pecunianonolet said:

Johnny-Cage said:

Was tempted to jump on trading 212 to max this years allowance out but it’s seems it’s only a matter of time before they drop the rates as well. Maybe might as well just max Chip out so it’s all together 

I have some Euros at Trading 212 and was under the impression that when the ECB started to lower rates they would follow suit. However, they have kept the rate stable since then so there might be good change that the ISA rate of 5.2 remains a little longer competitive.

With daily payments of interest every day counts. Transfer in transactions did take a while in June so unless you pay in fresh money it could take 3 weeks before funds arrive, it may go much quicker now if they have less demand and can process things faster.

Thx for the reply it is fresh cash got 17k dropping in to my current account from my 90 day Oxbury on the 19th. ATM I have 3k sitting in a Chip ISA for this year 

In that case if you pay in the 17k on Monday 19th you should receive the first interest payment on the 20th for the 19th and so on. Pay in during weekdays and business hours is pretty much instant. Let's hope the rate remains a it's level for some time :-)

Chip is a tracker. The interest rate follow the BOE base rate: "The Chip Cash ISA has a tracker rate. This means the gross interest rate is variable and tracks at 0.26% below the current Bank of England base rate."

They could change the margin between the savings rate and the base rate but they'd have to give notice of that.