ISA or interest paying Bank account?

kayteearr

Hi all - could I ask for some advice/suggestions please?

I currently have an ISA with the Cheshire BS which has £2.2k in it. The 2.5% interest rate drops to 0.5% in June.

I've looked at other ISA's but none seem to come anywhere near 2.5% interest so I'm wondering if I'd be better off putting it into an interest paying bank account?

My circumstances are that I'm a student but hope not to have to touch the money for at least 12 months but I don't have a regular income to pay into a bank account & also don't have any direct debits, which many of these accounts seem to require.

Thanks

innovate

One of many post that might help http://blog.moneysavingexpert.com/2014/04/07/get-5-interest-on-your-isa-money

jimjames

As a (presumably non tax paying) student with £2k, I'd say it was totally pointless using an ISA at the moment.

You can get 5% plus another £60 by using current accounts (TSB & Halifax) which is probably 5x what you can get in an ISA.