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So time is starting to run out quickly! who has filled this years £5760 and what do we think interest rates will be for next year?
Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)
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Comments
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So time is starting to run out quickly! who has filled this years £5760 and what do we think interest rates will be for next year?
Many people have ignored the cash element and lumped the lot into shares isas. Never understood the last minute rush at the end of teh tax year and generally try and fill these allowances at the start of teh year to allow maximum growth and longest time to shelter from tax.
I think rates will edge up over the next few months as the funding fro lending is withdrawn, or at least the mortgage element which appears such easy money for the banks, and might expect rates to be back to levels of a prune 2 years ago, maybe 0.5-1% above where they are now! but that's mere speculation.0 -
I think rates will edge up over the next few months as the funding fro lending is withdrawn, or at least the mortgage element which appears such easy money for the banks, and might expect rates to be back to levels of a prune 2 years ago, maybe 0.5-1% above where they are now! but that's mere speculation.
You might be right although the current trend does not seem to support your theory. Rates still seem to plummet as we speak. My personal view is that we will - similar to last April - not see anything exciting for cash ISAs this April.
Not everyone has the full sum at the start of the tax year. Better to have a scramble at the end of the tax year than never. Though I myself am one of the April 6 scramblers, so a full year ahead of the regular last minute ones, lol.Never understood the last minute rush at the end of teh tax year0 -
Add 0.25% to current rates and that's what you'll see in March / April.
I think that will be around 0.50%-1.00% lower than 2013.0 -
opinions4u wrote: »Add 0.25% to current rates and that's what you'll see in March / April.
I think that will be around 0.50%-1.00% lower than 2013.
why do you think it will be "around 0.50%-1.00% lower than 2013"?Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
All savings account interest rates have been falling since last March. Apart from the tax exemption, cash ISAs are just savings accounts. There is no reason why they should offer interest rates out of line with other savings accounts. Nothing suggests that between now and early April there wil be a big hike in interest rates. They remain in the doldrums. Thus it is reasonable to expect the ISA rates will be lower than last year, and by some margin.why do you think it will be "around 0.50%-1.00% lower than 2013"?0 -
Are cash ISAs still popular? When the rates are so low are accounts like Flexdirect or Lloyds a better bet with their higher rates even after tax?Remember the saying: if it looks too good to be true it almost certainly is.0
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Depends on the ISA I suppose, I got Santander's 2 year fix at 3% last April. Beats Lloyds 2.4% net and the FlexDirect's 5% is only good for a year and the £2.5K limit is useless if you have, say, £30K looking for a home. Who knows what Santander or others will be offering in 3 months timeAre cash ISAs still popular? When the rates are so low are accounts like Flexdirect or Lloyds a better bet with their higher rates even after tax?0 -
Yes, but then you have a dilemma in March...do you leave it where it is or secure some future shelter (at the expense of short term returns) from tax?Are cash ISAs still popular? When the rates are so low are accounts like Flexdirect or Lloyds a better bet with their higher rates even after tax?
Remember, many of these 3-5% paying current accounts could be slashed tomorrow!...or worse, on 6th April when you've missed the deadline.
Of course those on limited budgets should be using regular savers anyway throughout the year, running March to March, and then filling ISAs in late March with the proceeds?0 -
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Looks like its going to be a very poor year for ISAs!Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0
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