Best high street ISA

Kittybonnie

I am after a bit of help with setting up an ISA, I currently have a ISA saver Variable with Halifax giving 0.35% interest. I have just received a letter from them saying that they are changing my account to a Instant ISA saver and will only get 0.05%!!!
I was shocked at the difference between the two. I am 19 years old (nearly 20), currently have £5000 saved in my ISA from this year and I like to put at least £200 in a month. I do need to be able to get money out of it though for things like car service and MOT. I would prefer a high street bank for ease but I have heard the post office is good, but online only.
Any Help would be appreciated??

eskbanker

Why are you saving in a standard cash ISA anyway? There are many better places to put your money - see http://www.moneysavingexpert.com/savings/which-saving-account for ideas, which are likely to include a Help to Buy or Lifetime ISA specifically for saving for a property deposit but other accounts such as current accounts and/or regular savers for more easily accessible money.

jimjames

A cash ISA is pointless for what you described. Tesco bank current account would pay 3%, Nationwide pays 5% but for 12 months then drops to 1% which still beats a cash ISA. Use a regular saver alongside and you'll get 5% on that too. That's 100 times more interest than your ISA.

In money terms it means you'd get £250 interest compared to £2.50 in your existing account