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  • typistretired
    typistretired Posts: 2,099 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    VfM4meplse wrote: »
    This is a very selfish attitude. Poverty here cannot compare with poverty in developing nations - I don't begrudge this in the slightest.

    But it is not always getting to the people is it. A lot of it goes to the people who are causing the poverty by buying weapons and looking after their selfish needs. Charity begins at home.
    "Look after your pennies and your pounds will look after themselves"
  • Hi all

    I am a little confused, I currently have £3000 in an AA Cash ISA (Issue 2) 2012-13, which is due to expire on the 28th March and the rate will drop to 1.7%, so I am in the market for an ISA for 2013-14, I completely understand how ISA's work up to the point on when to apply for one...

    Santander seem to be the best rate for a 1 year Cash ISA but at the end of the application it says I am opening it for 2012-13?

    Does this mean I have to wait until after the new tax year and then apply?

    Thanks
  • Mr._H_2
    Mr._H_2 Posts: 508 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I currently have £3000 in an AA Cash ISA

    This thread is for discussion of instant-access savings accounts. The ISA sub-forum is a more appropriate place for your question.
  • Mr._H wrote: »
    This thread is for discussion of instant-access savings accounts.

    The ISA sub-forum[/URL] is a more appropriate place for your question.

    Sorry misread the title :o
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker


    Santander seem to be the best rate for a 1 year Cash ISA but at the end of the application it says I am opening it for 2012-13?

    Yes, if you apply now, you are still applying for a 2012-13 ISA. You can go ahead and open it and then ask Santander to transfer your complete old ISA over, by filling in their ISA transfer form.

    Best ask further Qs over on the ISA board.

    BTW, Santander do not offer a 1-year cash ISA - - all that's on their site is an instant access one (2.5% AER), and 2-year one (2.8% or 3% AER, depending on whether you are a 123 customer).
  • reheat
    reheat Posts: 2,294 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    My wife and I will shortly be completing on the sale of our house, and will be renting for a while until we find another one to buy; we anticipate this to be within 6 months. We shall therefore have around £150K that needs to be:-
    • As safe as is possible in these rather worrying times
    • Easily accessible.
    • Not liable to income tax
    • Pays good interest (and bonus if applicable) monthly
    My wife does not work, so we want the accounts to be in her name, to benefit from her tax allowance re the interest.

    We need to watch out for the £85K rule - been looking on the FSA site.

    So I've narrowed the choice down to two possible accounts ...

    Coventry BS, Online Saver (4). Currently 2%, incl bonus in 1st year. Covered by FSA. We could put £85K into here; no other money under this FSA license.

    National Savings and Investments. Income Bond. Currently 1.76% on whole balance if £25K or more. We could put the remaining £65K in here. Not covered by FSA, but the claim is they are safe anyway.

    So two questions really:-
    1. Is the NS&I really as safe as it sounds, as good as the FSA backed firms?
    2. Can anyone spot any better returns than I've seen here?
    Many thanks.
    Favours are returned ... Trust is earned
    Reality is an illusion ... don't knock it
    There's a fine line between faith and arrogance ... Heaven only knows where the line is
    Being like everyone else when it's right, is as important as being different when it's right
    The interpretation you're most likely to believe, is the one you most want to believe
  • ColdIron
    ColdIron Posts: 9,851 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    NS&I are an executive arm of the treasury so are as safe as you can get in the UK, it's probably safer in the first instance than the FSCS, but the lender of last resort in both cases would be the Bank of England and if we got to that stage we would be so much in the kack it would make little difference.The only real difference is the sum protected, 85K or, I think, 2 million
  • reheat
    reheat Posts: 2,294 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ColdIron wrote: »
    NS&I are an executive arm of the treasury so are as safe as you can get in the UK, it's probably safer in the first instance than the FSCS, but the lender of last resort in both cases would be the Bank of England and if we got to that stage we would be so much in the kack it would make little difference.The only real difference is the sum protected, 85K or, I think, 2 million
    Point taken - shades of Cyprus by the sound of it.
    Favours are returned ... Trust is earned
    Reality is an illusion ... don't knock it
    There's a fine line between faith and arrogance ... Heaven only knows where the line is
    Being like everyone else when it's right, is as important as being different when it's right
    The interpretation you're most likely to believe, is the one you most want to believe
  • typistretired
    typistretired Posts: 2,099 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Hi all

    I am a little confused, I currently have £3000 in an AA Cash ISA (Issue 2) 2012-13, which is due to expire on the 28th March and the rate will drop to 1.7%, so I am in the market for an ISA for 2013-14, I completely understand how ISA's work up to the point on when to apply for one...

    Thanks

    Before anyone complains Dr Frankenstein has not posted in the ISA part so I am answering here.

    If it is due to expire on 28th March 2013, that means you took it out 28th March 2012 which would put it in the 2011 - 2012 tax year. So you should be able to take an ISA out for 2012-2013 and after April another ISA for 2013-2014.
    "Look after your pennies and your pounds will look after themselves"
  • soulsaver
    soulsaver Posts: 6,618 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Before anyone complains Dr Frankenstein has not posted in the ISA part so I am answering here.

    If it is due to expire on 28th March 2013, that means you took it out 28th March 2012 which would put it in the 2011 - 2012 tax year. So you should be able to take an ISA out for 2012-2013 and after April another ISA for 2013-2014.
    And if you find one that accepts transfer in - then tranny this in too, always assuming its better than 1.7%.
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