ISA quick question

blablablacksheep

Hi all,

Going into forces and looking to open a ISA/saving account which i just pay into every month from my current account.

Keen for "Newcastle Building Society Big Home Saver ISA"

As i can transfer money into it every month and seems best bet .

IS this good choice, and if i apply online /branch tomorrow should i put money in straight away or wait till monday?( ideally like to save this financial year if possible)

thanks, hopefully quick response ( gets money bag at the ready)

eskbanker

Depending on how much you're talking about for your monthly contributions, you'd probably be better off with one or more regular savings accounts, as these will give a better return than cash ISAs, even after tax.

Vortigern

blablablacksheep wrote: »

should i put money in straight away or wait till monday?

Shouldn't make any difference unless:

• You have more than £15000 available to pay in now
• You think they might withdraw the product next week

Don't forget there are two bank holidays this weekend!

Archi_Bald

Vortigern wrote: »

Shouldn't make any difference unless:

• You have more than £15000 available to pay in now
• You think they might withdraw the product next week

Don't forget there are two bank holidays this weekend!

I don't think you can now put more than £1,250 into the BHS ISA this financial year.

blablablacksheep

eskbanker wrote: »

Depending on how much you're talking about for your monthly contributions, you'd probably be better off with one or more regular savings accounts, as these will give a better return than cash ISAs, even after tax.

Id be looking to save around £500-£750 a month tops.

Surely a Cash ISA be best?

Shouldn't make any difference unless:
You have more than £15000 available to pay in now
You think they might withdraw the product next week
Don't forget there are two bank holidays this weekend!

Would this product("Newcastle Building Society Big Home Saver ISA") still be around though?

Going to phone them up today and get more info, then plan would be open up today via online then deposit money next week for 2015/2016 year.

any help be great on this, thanks

eskbanker

blablablacksheep wrote: »

Id be looking to save around £500-£750 a month tops.

Surely a Cash ISA be best?

'Best' in what way though?

My suggestion effectively interpreted 'best' as meaning 'highest return on your money' but you may have a different view as to what's important to you?

jimjames

blablablacksheep wrote: »

Surely a Cash ISA be best?

Can you define what's best for you? What requirement do you have? I'd assumed best was the best rate but maybe it's another criteria.

Are you in the forces outside of the UK? That might affect some of the options available.

Where is the money sitting at the moment? Bags of cash?

mrs_T

I have newcastle big home saver isa and got a letter today saying they are cutting the rate to 2% gross from 2.54% (includes 1% bonus for making a deposit and no withdrawal each month) from 1st May. Still a good deal I think although santander 123 pays 2.4% net on balances over £3k.