Top Cash ISAs Discussion Area

leaphaze

SusieQ49 wrote: »

:money:
On the advice of the E-mails I transferred my ISA to the Nat West Online one. I have been given a leaflet by Chelsea BS as they have a guaranteed 11.5% ISA over 5 years on a fixed investment term but it closes early October. The guarantee is the obligation of Credit Suisse International. They are hoping it will be more than 11.5% but that obviously cannot be guaranteed. I dd not see this mentioned in the Top Deals and would welcome advice. Thanks. Sue

I wouldn't bother. 11.5% over 5 years is a little over 2% compounded per year. Even now when rates are low you can do better than 2%, and rates will rise within the next 5 years. It's a better deal for Chelsea BS, than it is for you.

Baldur

samk1989 wrote: »

.....please send me a private message

About what? You don't give enough information about your goals, risk levels, etc., for anyone to try to help.

alisha25

dunno if anyone can help me but i hav a current cash isa at a rate of 0.50% gross p.a, is this the best rate to have?i know rates are up and down a lot but is this good as i am putting in a couple of hundred a month.

Lokolo

alisha25 wrote: »

dunno if anyone can help me but i hav a current cash isa at a rate of 0.50% gross p.a, is this the best rate to have?i know rates are up and down a lot but is this good as i am putting in a couple of hundred a month.

No that rate is absolute bonkering crap.

http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

Look under the secion ISAs which allow transfers

First Direct e-ISA = 3% is best at the moment.

Baldur

Lokolo wrote: »

http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

Look under the secion ISAs which allow transfers

First Direct e-ISA = 3% is best at the moment.

See also under "Variable rate cash isa's requiring notice to be given & accepting transfers in:"

If you have a minimum of £1,000 and can give 35 days notice for withdrawals/transfers Manchester Building Society's Premier ISA 35 pips the rate of the FD one at 3.01% (with a 0.70% bonus for 12 months) but is variable, whereas FD's is fixed until November 2010 but then drops to 0.20%.

david78

My 2 year 6.15% fixed rate with M&S Money (part of HSBC) matures next month. I moved to this fix rate deal before their variable rates started being uncompetitive (crap) 2 years ago.

They have offered me a couple of fixed rate deals or their variable account for my maturing ISA. The fixed rate deals are 2.50% for 1 year, 3.00% for 2 years, or 4.00% for 3 years. I think the variable rate pays 2.50% currently. (The fixed rate bonds are tagged ~Issue 9. But only issue 8 show up on the website so perhaps these rates will be available to others too).

Does anyone have any ideas which I should do?

I don't need access and could live with the 3 year fixed term. If I go with the variable rate it would only be for a short while until I can find a better account to transfer to. If I don't send them my decision before my maturity date, they will transfer to the variable rate account.

The_Only_Homer_Simpson_UK

Hi
have a Nat west ISA which has previous years ISAs already transferred in last year ---I have paid some ---not all ---of the 3600 allowed for this year into it too but the rates drop like a stone in Oct so looking to transfer probably to First Directs 3% ---Question am I allowed to transfer what i have already paid in this year --as I know I can transfer previous years or can i since i have obviously this one open this year ?
Reason of asking is that I qualify for the additional top up to 5100 this year so looking to put all the eggs in one basket
thanks in anticipation
HJSUK

Baldur

The_Only_Homer_Simpson_UK wrote: »

have a Nat west ISA which has previous years ISAs already transferred in last year ---I have paid some ---not all ---of the 3600 allowed for this year into it too but the rates drop like a stone in Oct so looking to transfer probably to First Directs 3% ---Question am I allowed to transfer what i have already paid in this year --as I know I can transfer previous years or can i since i have obviously this one open this year?

Reason of asking is that I qualify for the additional top up to 5100 this year so looking to put all the eggs in one basket
thanks in anticipation

Yes, you can transfer your whole Natwest ISA and, after the transfer completes, will be able to top it up to this tax year's maximum allowance.

The additional £1500 for those aged 50 or over by 5th April 2010 can be paid in after 6th October 2009.

The rule is that current tax year's Cash ISAs must be transferred complete - i.e. partial transfers are not permitted, whereas previous tax year's/years' ISAs can be partially transferred.

minerva_windsong

Question re: First Direct (new top instant access ISA at 3%) - when I went on the online application form it asked for my main bank account details. I assumed that means my current account?

Also, just to check - it's OK to transfer money to a new ISA (from Halifax to First Direct) if the current ISA is less than a year old? I opened the Halifax one last November but have no idea if I am allowed to transfer out before I've had that one for a full calendar year, or if I can do it before then...

Lokolo

minerva_windsong wrote: »

Also, just to check - it's OK to transfer money to a new ISA (from Halifax to First Direct) if the current ISA is less than a year old? I opened the Halifax one last November but have no idea if I am allowed to transfer out before I've had that one for a full calendar year, or if I can do it before then...

Not sure about current account question.

However, yes, you can transfer this years ISA to them. The only thing you can't do with this years ISAs is split the money. So if you've filled it up (i.e. £3600), you can put £1000 in one ISA and £2600 in another, which you can do wth previous years ISAs.