Cash ISA suggestions?

jimjames

Audaxer wrote: »

That's a very impressive average interest rate. I know Nationwide Flex Direct pays 5% on £2,500 for each account, but I didn't think anywhere near that sort of average interest was possible for significant cash balances. I'd be interested to know the maximum you can have in cash savings that will give you average interest of 4.5%.

Just checked and you should be able to achieve it on £12k to around £28k but it will decrease as the balance rises.

I'm currently running at around 4.8%

RG2015

jimjames wrote: »

Just checked and you should be able to achieve it on £12k to around £28k but it will decrease as the balance rises.

I'm currently running at around 4.8%

The link below shows how this may be achieved.

However, by their calculations £12k gives 4.3% and £28k gives 3.5%

https://www.bankaccountsavings.co.uk/

jimjames

RG2015 wrote: »

The link below shows how this may be achieved.

However, by their calculations £12k gives 4.3% and £28k gives 3.5%

https://www.bankaccountsavings.co.uk/

Useful tool but quite simplistic. It doesn't show movement from current account to reg saver which will increase the average rate hence the higher number I get

RG2015

jimjames wrote: »

Useful tool but quite simplistic. It doesn't show movement from current account to reg saver which will increase the average rate

Yes it is basic but it demonstrates the possibilities.

jimjames

RG2015 wrote: »

Yes it is basic but it demonstrates the possibilities.

Definitely. I was just explaining why their numbers are lower than mine