Cash ISAs: The Best Currently Available List

pecunianonolet

thriftytracey said:

I was going to transfer Shawbrook Cash ISA which has reduced the rate, to the Coventry Building Society ISA (withdrawals allowed 6 x a year), but the rate reduces in March.  

Many of the ones recommended on MSE don't allow transfers in.  

Is it better to wait until after 5th April 2025 for a better rate?  It doesn't look like bank interest rates will reduce much now as inflation is increasing.

Similar dilemma here.

5.25% Virgin fix is coming to maturity end of March and not sure where to put it. I still got a 
Virgin Money Easy Access Cash ISA Exclusive Issue 2 sitting for well over a year at zero balance. This account could be opened at the time and not required funding so opened it speculatively. It's been at 4.76% AER for a long time but is reducing to 4.51% AER on the 24th Feb. 

My Moneybox ISA also comes to maturity around the same time and will not be competitive once the bonus has expired. 

My eyes were on Principality BS Online Bonus 5 Access Cash ISA Issue 4 at 4.7%  because I am already a customer there but they also reduce their rate to 4.5% on the 13th March.

Monument Bank has an Easy Access Cash ISA still showing at 4.76%, which is competitive, but the question is if they keep the rate or reduce as well. So far no info on that I think. Also, not a customer there so would be good to hear from existing customers if they can be recommended. 

CuparLad

pecunianonolet said:

Monument Bank has an Easy Access Cash ISA still showing at 4.76%, which is competitive, but the question is if they keep the rate or reduce as well. So far no info on that I think. Also, not a customer there so would be good to hear from existing customers if they can be recommended. 

Be aware that Monument don't yet support transfers in. Slated for "early 2025"

LL_USS

A couple of weeks before, I was worried that some of the best fixed rates will disappear soon as the BOE reduced the base rate. I still couldn't grab one best fixed one right away still needing some buffer money waiting for more income to arrive at the end of this month (or ideally next month pay day).

With the inflation flaring higher than expectation again, I am just hoping that good fixed rates will still be around a bit longer, for me to move an ISA into a fix in the next few weeks. Fingers crossed!

Ocelot

Interestingly, rates don't seem to be going down that much for fixed rates greater than one year.

Here's the latest summary of the best fixed rates from September 24 to February 25 from the MSE tables:

Best FRB 14/9/24: 5yr - 4.37 3yr - 4.52; 2yr - 4.7; 1yr - 4.86
Best Isa 14/9/24: 5yr - 4.1; 3yr - 4.35; 2yr -4.42; 1yr - 4.67
Best FRB 29/10/24: 5yr - 4.36 3yr - 4.52; 2yr - 4.5; 1yr - 5
Best Isa 29/10/24: 5yr - 4.11; 3yr - 4.31; 2yr -4.4; 1yr - 4.51
Best FRB 30/11/24: 5yr - 4.6; 3yr - 4.6; 2yr - 4.6; 1yr - 4.77
Best Isa 30/11/24: 5yr - 4.18; 3yr - 4.38; 2yr -4.4; 1yr - 4.52
Best FRB 11/01/25: 5yr - 4.52; 3yr - 4.6; 2yr - 4.66; 1yr - 4.77
Best Isa 11/01/25: 5yr - 4.2 3yr - 4.37; 2yr -4.43; 1yr - 4.53
Best FRB 23/02/25: 5yr - 4.55; 3yr - 4.63; 2yr - 4.61; 1yr - 4.62
Best Isa 23/02/25: 5yr - 4.27 3yr - 4.43; 2yr -4.41; 1yr - 4.46

LL_USS

@Ocelot indeed. Great you have a record here of the rates overtime. Sometimes I wonder how rates have changed but don't have a record.

A couple of weeks ago I transferred old ISAs in and locked away 3 years (at 4.42% with Shawbrooks, which says i can still add more new money in during the fixed period for that same rate).

I have this year's ISA with Trading 212 now, which just dropped down to 4.5% so I am just waiting to make sure I have enough buffering then move this one to the fixed 3 years 4.43%. I have some other smaller savings here and there and still like to have a bit more cash at hand, but am quite certain I won't need these ISAs for a few years.

It seems from your record 3y fixes are highest now (though not considerably)! Am quite happy to know, thank you

LL_USS

PS: as anticipated, one of the two 3 year top rated ISAs (Secure Banks) has disappeared, since this morning. Only one left from Close Brothers.

Ocelot

I have them going back to about 2012 and posted them a couple of years somewhere on here, and someone did a graph, but I can't find it (may be this thread)?

Kotokos

Chip cash ISA
It's probably been asked previously but I'm struggling to find any relevant info, I understand that the 5.25% inc bonus rate is solely for new customers, but having only previously held a savings account with Chip am I a new customer and eligible for the 5.25% ISA?

nomorekids

When do deposits into the plum isa need to complete? just wondering if I could deposit £100 this tax year and £20000 after the 7th April ? Idea is to secure the rate but note that its variable interest anyway.

pecunianonolet

nomorekids said:

When do deposits into the plum isa need to complete? just wondering if I could deposit £100 this tax year and £20000 after the 7th April ? Idea is to secure the rate but note that its variable interest anyway.

Make sure you read the T&C's of the Plum ISA in detail. I personally stay away from them because they have some "traps" in there that are easily overlooked. 

If you have not used your total allowance for this year yet and have £100 left to subscribe you can open to "secure" the rate. Your allowance reset on the 6th of April so you could pay in your full allowance on the 7th if you'd wish or split it across various different ISA's, as long as you stay within the 20k subscription limit. Note, the bonus rate is for 3 months only, the rate is variable. The next bank of England meeting is on the 20th March.