M&S Cash Isa

melbury

Can you open a cash ISA at any time? - i.e. it doesn't have to be done by the start of the new tax year.

penrhyn

If you don't have a cash isa for this tax year then.....

Open one tomorrow and you can stick £5640 into it, then on April 6th you can stick a further £5760 in. Simples.

Gurranes

clippings wrote: »

They are all dropping their rates, probably because of the Fundung For Lending scheme which gives banks cheap money - so they don't need to pay 3% to get yours.

I would not be surprised if anybody offering much over M&S's miserly rate will not be doing so for long. If you can find a good rate and lock in - great. But I'm not sure it's worth switching to a better variable rate.

I knew they would be dropping rates because of the above, relieving the need for savings to fund lending.

I didn't like the opening paragraph of the letter which made it seem like market pressures were forcing their hand as opposed to improving the bottom line.

Try some of the mutual building societies as they seem to keep their savings rates - part of their 'dividends' back to their members.