Best last minute cash ISA

aav

I know that it's very last minute but I'm wondering what the best cash isa would be for me. I've got a couple of questions that I hope you guys might be able to answer.

1. What provider offers the highest interest rate
2. If I have a fixed term isa and move it to another isa before the term is over what happens?
3. What's a good fixed term to hold my isa?
4. Variable rates is their an underline fixed rate?

I currently have an isa and need one that would allow me to transfer
Thanks for your help

DesG

1. there's a guide and thread on the site, search.
2. depends on the T&C's of the product.
3. ask yourself, we don't know your requirements.
4. No idea what your question means.

aav

DesG wrote: »

4. No idea what your question means.

So going back to that what I mean is if an ISA is variable could the provider give me as little as 0.01% or even 0% interest?

jimjames

aav wrote: »

So going back to that what I mean is if an ISA is variable could the provider give me as little as 0.01% or even 0% interest?

Yes they could.

What's the sudden rush to get an ISA? Where is the money now and what rate is it getting?

Vortigern

aav wrote: »

What provider offers the highest interest rate

Various current accounts might suit your needs better

aav wrote: »

If I have a fixed term isa and move it to another isa before the term is over what happens?

The bank will steal some of your interest

aav wrote: »

What's a good fixed term to hold my isa?

Until the day before the rates rise. (or the day before you need the money)

aav wrote: »

Variable rates is their an underline fixed rate?

If a bank offers "Bonus" interest there may be an underlying, low, variable rate.

If you still want to do an ISA transfer, the best ones are listed at:
https://forums.moneysavingexpert.com/discussion/401374

Remember there is no April deadline for transfers, don't make any hasty decisions.

bigfreddiel

Why leave this to the last minute? You've had the best part of 360 days to have opened an isa?

I maxed my isa out last April, and will be doing the same in a few weeks time. That way I get a years worth of tax free growth instead of just 5 days!

Cheers fj

colsten

bigfreddiel wrote: »

Why leave this to the last minute? You've had the best part of 360 days to have opened an isa?

I maxed my isa out last April, and will be doing the same in a few weeks time. That way I get a years worth of tax free growth instead of just 5 days!

Cheers fj

Not everybody has 15 grand readily available on April 6 each year. Some people may also have done the sensible for them and saved up in accounts that pay better interest than ISAs.

Alter_ego

bigfreddiel wrote: »

Why leave this to the last minute

Maybe to transfer this year's allowance into another next week, maybe only just inherited the cash, maybe something else.

jimjames

colsten wrote: »

Not everybody has 15 grand readily available on April 6 each year. Some people may also have done the sensible for them and saved up in accounts that pay better interest than ISAs.

If that's the case that they're sensible enough not to use ISAs during the year I don't think they'd then be panicking at the last minute to open one. More likely they wouldn't bother at all. I'd suspect more someone thinking they need to do something as a result of mse or other articles pushing the urgency to act now.

bigfreddiel

colsten wrote: »

Not everybody has 15 grand readily available on April 6 each year. Some people may also have done the sensible for them and saved up in accounts that pay better interest than ISAs.

In which case leave it in the non isa account and miss out on building up a nice tax free sum

And as far as not having £15k I accept that but surely it's time in the market and not timing the market that matters!

fj

jimjames

bigfreddiel wrote: »

In which case leave it in the non isa account and miss out on building up a nice tax free sum

And as far as not having £15k I accept that but surely it's time in the market and not timing the market that matters!

fj

I agree about not timing the markets but this is referring to cash ISAs so no investment risk and no market involved.