Cash ISAs: The Best Currently Available List

Hemel_Saint

1jim wrote: »

Any of these any good? taken from the front page of this post, quick glance suggested these will meet your needs but havnt really looked into in depth....

Cheers...
They are good rates, but ideally I would like a fixed rate, but a good option...

But the one that seems to tick all my boxes is the one Baldur spotted from Scarborough BS....
Its not showing on ... www.moneysupermarket.com/isa/IsasResults.asp. or on the front page of this Forum, but is...
- 6.3%
- fixed, till Oct 09,
- Transfer In & Out,
- £1,000 entry
Bingo, Application form downloaded....
Thanks for all the good advice...

anyone interested, the link is here...
Scarborough BS ISA....

Cheers
Mark

Baldur

Hemel_Saint wrote: »

But the one that seems to tick all my boxes is the one Baldur spotted from Scarborough BS....

Doesn't tick all of your boxes, as withdrawals are not permitted - only closure with 120 days loss of interest.

Hemel_Saint

Baldur wrote: »

.....withdrawals are not permitted - only closure with 120 days loss of interest.

Yes, good point. It was the one area I could compromise.
I don't see any real reason why I will not keep the ISA for the full 12 months!
So an early withdrawal policy is handy for that emergency, but I should not be crucial..

I phone SBS and they said that after Oct 31st, you get option to Transfer with no Penalty..


Kazza, you may want to link The Scarborough to the front page....

cheers
Mark

Baldur

Hemel_Saint wrote: »

I phone SBS and they said that after Oct 31st, you get option to Transfer with no Penalty..

That's after October 31st 2009...........

What happens after 31 October 2009? Your 1 Year ISA Bond will mature on the 31 October 2009. At this time we aim to contact you. Once your account has matured it will automatically be transferred into our easy access Cash ISA account (details available on request), or another tax free account that we consider is similar and available at that time.

Hemel_Saint

Baldur wrote: »

That's after October 31st 2009...........

Thats fine, I should be OK for 12 months as I am banking that Rates will drop over the course of 12 months...

wrote:

What happens after 31 October 2009? Your 1 Year ISA Bond will mature on the 31 October 2009. At this time we aim to contact you. Once your account has matured it will automatically be transferred into our easy access Cash ISA account (details available on request), or another tax free account that we consider is similar and available at that time.

I read this too, and on the phone I asked if at Oct 31st could the Fund be Transferred externally for no Penalty, ...and she said that was correct.
Before 31st Oct 09 the penalty is 120 days, but then it changes to the lower rate ISA, and there is no Penalty charge, and the Transfer out is OK....

I hope I understand all of this correctly... My head is hurting!!!

Baldur

Hemel_Saint wrote: »

Thats fine, I should be OK for 12 months as I am banking that Rates will drop over the course of 12 months...

I hope I understand all of this correctly... My head is hurting!!!

Yes, I was just clarifying that you weren't under the impression that the date referred to this October 31st.

Milarky

http://www.saffronbs.co.uk/savings/t5.tandc.php

Current rate is '6.58%' --> 6.78 [AER?]
Term 2 years
Minimum deposit £500
Accepts transfers YES
Early withdrawal allowed? NO

Interest formula
Rate changes every 1 January,1 April, 1 July and 1 October using RPI for November, February, May and August + 2% pa. Currently 1 October rate would have been 4.8% [annual RPI for August 2008] + 2% = '6.8%' They say '6.58%' (Just a detail)

The interesting point about this is that it uses a 'backward' looking index every 3 months - making it more like benefit and pension inflation-proofing than the 'forward' indexation applied to other price-protected savings products. This is beneficial whilst inflation is expected to fall, because anyone taking out this product will actually be getting a known rate to begin and lock in 'current' price rises whilst they are still significant.

But with no get out for two years - you have to be conformtable with leaving it there...

owitemisermusa

HSBC has dropped its e-iSA rate to 5.75% and cash ISA rate to 4.75% AER!
Can the first page be updated kazza?

Special_Saver2

Another ISA to add to the list - Newcastle Building Society Inflation Protector ISA

It pays RPI + 2.25% until 25th November 2010. Early withdrawals incur a 90 day penalty. Accepts transfers in.

Geoff_W

NatWest have dropped the rates and bonus on their Cash ISA.