ISA Help please

sunny69

I have £5000 to put into an ISA for 3 years but with the possiblitly of accessing it in an emergency.Virgin Fixed Rate Cash E-ISA Issue 38 sounds to fit the bill for what I need but can anyone suggest anything better or highlight any downsides to this one. Many thanks

Lokolo_2

sunny69 wrote: »

I have £5000 to put into an ISA for 3 years but with the possiblitly of accessing it in an emergency.Virgin Fixed Rate Cash E-ISA Issue 38 sounds to fit the bill for what I need but can anyone suggest anything better or highlight any downsides to this one. Many thanks

Well that account has a forfeit of 120 days interest should you need to close it and withdraw the money in an emergency.

To be honest the rate isn't great at 2.4%, so you need to weigh up how likely it is that you will need access during the fixed rate term.

I would go for the Halifax 3yr fix at 3%, much better rate, however 270 days loss of interest if you need access. It depends on your personal view, but I think most people wouldn't care about loss of interest if they needed access to money in an emergency!

innovate

Check out the stickies on the ISA board

waiax73

why don't you put it in a very steady S&S ISA instead then?

Crabman

Hi folks,

I've moved this thread over to the ISAs sub-board