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Top Cash ISAs

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1235721

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  • Too_much_cheese
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    Hi
    I already opened a Coventry fixed ISA last year. Do you know if I can open another or add to the existing one? I have some other ISAs I now want to consolidate with a better interest rate, since they are generally miserable.
    I have health issues so want a low energy option
    Thanks!
  • wildeep
    wildeep Posts: 42 Forumite
    First Anniversary Combo Breaker
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    On the 17th January I signed up for a Coventry ISA which was at the time listed on MSE as the best rate. I'm fairly sure they said it was 2.4%, it was definitely somewhere in the 2.4s and had a 120 day penalty, and fixed until 2020. The next day the ISA was pulled and I rang Coventry and they said I could still open the account because I'd applied while it was still active. Then they sent me a letter saying the rate is 2.15! They say the last time they were offering 2.4 was in December! This cannot be true but I can't find any evidence of the offered 2.4 rate because the MSE website has been updated now that ISA has been pulled, and Coventry no longer lists that page, all the links I used on the 17th January are dead links!! Help anyone? Anyone in a similar situation?
  • Gizmo70
    Gizmo70 Posts: 138 Forumite
    First Post First Anniversary
    edited 27 January 2016 at 10:04PM
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    wildeep wrote: »
    On the 17th January I signed up for a Coventry ISA which was at the time listed on MSE as the best rate. I'm fairly sure they said it was 2.4%, it was definitely somewhere in the 2.4s and had a 120 day penalty, and fixed until 2020. The next day the ISA was pulled and I rang Coventry and they said I could still open the account because I'd applied while it was still active. Then they sent me a letter saying the rate is 2.15! They say the last time they were offering 2.4 was in December! This cannot be true but I can't find any evidence of the offered 2.4 rate because the MSE website has been updated now that ISA has been pulled, and Coventry no longer lists that page, all the links I used on the 17th January are dead links!! Help anyone? Anyone in a similar situation?
    If you search for Internet Archive: Wayback Machine, you can copy the web address for Coventry's savings accounts into it. There are snapshots from both 11th and 12th January 2016 that show the rate as being 2.15%. The snapshot before that is from 13th October 2015 and that does show 2.40%
    You can do the same for the MSE website and that shows the drop was reflected sometime between 28th November and 5th December
    Save £12k in 2023 #17: £19,085/£24,000 (79%)
    Save £12k in 2022 #5: £18,007/£18,000 (100%)
    Save £12k in 2021 #17: £18,012/£18,000 (100%)
    Save £12k in 2020 #25: £15,522/£15,000 (103%)
    Save £12k in 2019 #112: £10,963/£10,500 (104%)
  • wildeep
    wildeep Posts: 42 Forumite
    First Anniversary Combo Breaker
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    thank you, that is very helpful, I think I must have made a mistake! strange as I was so sure! anyway, the rate is nearly as good as 2.4 now anyway with virgin money!
  • MrGumby
    MrGumby Posts: 176 Forumite
    First Anniversary Combo Breaker First Post
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    If you're thinking of investing with one of the many foreign banks offering attractive rates, I'd suggest checking the customer service by calling them and asking a question or two first (if you can get through). As a result of doing so myself, I've abandoned plans to invest with Bank of India or Punjab Bank.
  • donmaico
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    MrGumby wrote: »
    If you're thinking of investing with one of the many foreign banks offering attractive rates, I'd suggest checking the customer service by calling them and asking a question or two first (if you can get through). As a result of doing so myself, I've abandoned plans to invest with Bank of India or Punjab Bank.

    Re State Bank of India I completely agree .They have the worst customer service i have so far encountered.They refused my fiords application then I reapplied and waited overt two weeks to be accepted. .When I rang for further advice I was given one or two word answers and then the phone went dead.
    Argentine by birth,English by nature
  • sarahscott32
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    coming up to that time of year for ISA's but i just dont think i will bother saving this year, just doesnt seem worth it!
  • jimjames
    jimjames Posts: 17,753 Forumite
    Photogenic Name Dropper First Anniversary First Post
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    coming up to that time of year for ISA's but i just dont think i will bother saving this year, just doesnt seem worth it!
    I disagree. 5% and 6% rates when inflation is under 0.5% are fantastic rates and make saving a very worthwhile activity, just not inside a cash ISA. And for long term money with stock markets at lower levels it makes a great time to buy inside a S&S ISA as well.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • mrviner
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    jimjames wrote: »
    I disagree. 5% and 6% rates...

    where are you getting those kind of rates?
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