Cash ISAs: The Best Currently Available List

MiserlyMartin

2010 said:

MiserlyMartin said:

Yellowman said:

jpsman said:

Skipton Cash ISA Tracker issue 5 4.7% https://www.skipton.co.uk/savings/isas/cash-isa-tracker
@Kazza242

Tracks 0.55% points below the Base Rate (currently 5.25%) for a period of two years.

Flexible and no restrictions on number of withdrawals.

It's good at the moment, however before everyone gets too excited about this account, remember that for a long period in the 90s/2000s the normality was that savings accounts paid ABOVE the Base rate, so having a tracker at 0.55% below it is not really that good should we go back to a high swap rate situation etc

I don't think you'll ever see those days again. Banks etc. prefer to pay as little as possible and charge as much as they can.
From what I can see, Skiptons account is a win win.
The other thing is, if those heady days of above base rates ever came back, you can just transfer the Skiptons into it.

We might be. Despite the BoE rate cut, we have had 10 year swap rates rising over the last 6 weeks ( it pulled back today after the inflation data though)

slinger2

Opened a Paragon double access ISA on Tuesday with a request for a full transfer from the Leeds BS. Money in the Paragon account this afternoon (Thursday). Fastest I've ever had.

Zaul22

This is probably a dumb question not worth opening a new thread for: Why are there only 7 LISA's? Like for the entire UK? Why do none of the high street banks do them? Unless there are some not listed on Moneyfacts but from Googling only the same 7 came up. 

surreysaver

where_are_we said:

I have a flexible Principality Online bonus ISA4 @4.75% opened in late 23-24 tax year. I have made quite a few withdrawals from it in this tax year and now have a balance only a few hundred. I intend to replace the money taken out before the end of 24-25 to preserve my ISA protection. I was thinking about transferring this OBISA4 into a new OB5AISA issue2 @4.85% with no new 24-25 ISA money involved - this would mean a small gain in interest and also an extension of the bonus interest period to 12 months from now. However in T&C`s it states "If transferring an existing Principality cash ISA then this must be transferred in full"

Does this mean to preserve my previous years ISA protection I would have to top up my present OSISA4 with the full replacement allowance in one go, before initiating a transfer or does it mean just transfer the present full balance of a few hundred pounds? I would rather replace this allowance gradually over the next 5 months into the new OB5ISA.

You should be able to message Principality and they'll convert your existing ISA to the new one, with the same account number and everything. I've done it earlier this year with their flexible ISAs when the interest rate went up. It wasn't an issue 

TheBanker

Zaul22 said:

This is probably a dumb question not worth opening a new thread for: Why are there only 7 LISA's? Like for the entire UK? Why do none of the high street banks do them? Unless there are some not listed on Moneyfacts but from Googling only the same 7 came up. 

Not profitable products. There's a limited market, and people can only pay in £4k per year. The money the bank could make on that would be wiped out by the cost of sending a couple of statements, especially in the low interest rate environment we've seen until the last couple of years. 

silvercar

Found this one - Virgin Money Defined Access Cash E-ISA Issue 31 4.51% .

Three withdrawals a year or the rate drops to 2%. No current account required. Only difference between this and the one that requires a current account is the limit of 3 withdrawals a year. Both now at the same rate of 4.51%

pookey

Just seen this on mse website
 
Only three penalty-free withdrawals per year, includes a fixed 0.42% bonus for 12 months

Moneybox, 5.12% (click for info)

- Min £500

- Open via app

- Interest paid: annually

- is a flexible ISA


https://www.moneysavingexpert.com/savings/best-cash-isa/

pecunianonolet

pookey said:

Just seen this on mse website
 
Only three penalty-free withdrawals per year, includes a fixed 0.42% bonus for 12 months

Moneybox, 5.12% (click for info)

- Min £500

- Open via app

- Interest paid: annually

- is a flexible ISA


https://www.moneysavingexpert.com/savings/best-cash-isa/

I opened this account in March when it was last available and transferred the £500 minimum in from Virgin (3 days turnaround time) as a backup option. The rate at the time was 4.25% plus a bonus of 0.91% making it 5.16% AER and this rate has been consistent so far. The app shows you daily interest and current earnings so you know what you get paid at anniversary. 

Crucially, as there are many reporting problems with Trading212, Moneybox allows transfer in from Trading212. Unless you need more flexibility or interest payment at anniversary is an issue, this account can be recommended. Moneybox customer service (limited dealings) have been good.

In light of the UK budget, US elections and all the other macroeconomic elements ongoing in the world, a rate cut by the BOE is likely but by no means certain on the 7th November so potentially good account to secure with a top rate.

gt94sss2

Trading 212 has increased the interest rate on GBP balances to 5.15% AER

Bridlington1

gt94sss2 said:

Trading 212 has increased the interest rate on GBP balances to 5.15% AER

Along with Moneybox, who have matched the rate.