Top Cash ISAs Discussion Area

Baldur

For an explanation of AER, see - http://www.moneysavingexpert.com/banking/interest-rates#AER

Browse through the following post for current Cash ISA 'best buys' - http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

Reiki_Angel

thank you...just one more question..do I have to state how much i pay per month or can it vary?

Baldur

Reiki_Angel wrote: »

thank you...just one more question..do I have to state how much i pay per month or can it vary?

It depends upon your selected ISA account, some (e.g. Regular Savings ISAs) specify an amount that may be paid into them per month but easy access products do not.

In either case, the maximum that you can deposit per tax year is the annual Cash ISA allowance.

allan2006

ive got a nationwide cash isa but only bout 100quid in it as its paying rubbish interest.

If i want to open a new isa with someone else, does that mean i need to close the nationwide one 1st. I know your only aloud 1 isa and i noticed they say they will automatically subscribe you every subsequent year necessary.

10_66

allan2006 wrote: »

ive got a nationwide cash isa but only bout 100quid in it as its paying rubbish interest.

If i want to open a new isa with someone else, does that mean i need to close the nationwide one 1st. I know your only aloud 1 isa and i noticed they say they will automatically subscribe you every subsequent year necessary.

It depends on whether or not the N'wide cash ISA is for this current tax year. If it is, you are only allowed to subscribe money into one cash ISA for the current tax year.

If it's from previous years', you can open a new one for this year and subscribe up to your limit into it, keeping the N'wide open (if you want to). You could (providing the new ISA provider permits transfers in, and providing you don't have any penalties for transferring out of the N'wide one) transfer your existing N'wide into the new one.

hiz_2

Looking at a new cash isa to put 1600 into before the end of this year.

Newcastle BS, 2% with 1% bonus after 12months looks good to me. Why would I not want this and say go with the MSE suggested FirstDirect e-isa one at 2.75%?

Cheers

Baldur

hiz wrote: »

Why would I not want this and say go with the MSE suggested FirstDirect e-isa one at 2.75%?

It has a 120 day notice period or loss of interest for early withdrawals, whereas the FD one is easy access, which may, or may not suit you.

The bonus is applicable for the first 12 months, not 'after 12 months'.

hiz_2

Baldur wrote: »

It has a 120 day notice period or loss of interest for early withdrawals, whereas the FD one is easy access, which may, or may not suit you.

The bonus is applicable for the first 12 months, not 'after 12 months'.

Thanks. Sorry my misleading English! I know what I mean, nobody else does!! :-)

Alchera_2

rb10 wrote: »

No, you can have as many ISAs as you like at any one time. What's not allowed is to pay new money into two different ISAs during the same tax year.

Aaaahhhh!!! I didn't know that. I thought you could only have one! So I could open a new one every year, put the max in and leave them and have loads of dosh. Like I can afford that... Is that what the Cake Analogy means then? That went right over my pretty little head.

Alchera_2

hiz wrote: »

Thanks. Sorry my misleading English! I know what I mean, nobody else does!! :-)

I have rather the same problem meself.....