Top Cash ISAs Discussion Area

10_66

shymanuk wrote: »

hi ive £10,895.26 from old isa and £5,100 for this yr ive no idea of the best deal is a+l for the new yr on 5,100 and 2.7 on the remaning 10,895, or am i better to put all in a 2.7 and be done with it for a yr any help be great dont need to get at this money in the 12 months

If you have a look at Kazza242's thread on "best currently available" HERE, it'll help you find what you're after. For example, if you don't need your money for the next 12 months and you want to transfer it elsewhere to get a better rate (you don't say what rate you're getting at present on your old ISA), you could get 3% on a 1 year fixed rate with Dunfermline. Kent Reliance offer 3.25% fixed until Dec 2011 (so more than a 12 month fix). There's also Nationwide at 2.75% variable (as an alternative to A&L which offers the same rate).

If you didn't want to put this year's allowance into the one you choose to transfer into, and you don't want one of the Santander Group's (personally I wouldn't go near them again following very bad experiences with them in the past on transferring ISAs out), then Barclays Golden ISA 2 (variable) is 3.10%.

centaurandrew

Rmonty wrote: »

Hi. Why do you show a reduction in interest for each tax band in your latest table comparing ISAs to bank account returns? An ISa is tax free.

I was just going to ask the same thing.

Surely there should be only one value for "Good ISA" and "Poor ISA" and that should be the untaxed interest amount.

nls21

Hi, I have an ISA with Egg, which I opened last July and I paid the full £3,600 into it. Should I transfer it into another higher rate ISA now or wait until I get the interest in July and then transfer the capital and the interest together?

Also if I transfer the old ISA into a new ISA, either now or in July does that count as my new ISA or can I open a cash ISA now to start saving this year's allowance?

I hope that makes sense.
Thanks

10_66

nls21 wrote: »

Hi, I have an ISA with Egg, which I opened last July and I paid the full £3,600 into it. Should I transfer it into another higher rate ISA now or wait until I get the interest in July and then transfer the capital and the interest together?

Depends on what the interest rate is on your Egg ISA, and whether or not you can improve upon it, and if so whether the increase in rate is enough to cover the interest you'll lose during the transfer period. If you do decide to transfer now (providing there are no penalties involved for early transfer/closure), you wouldn't have to wait until July to get the interest due, as all interest earned would be added to the ISA before it was closed and transferred.

nls21 wrote: »

Also if I transfer the old ISA into a new ISA, either now or in July does that count as my new ISA or can I open a cash ISA now to start saving this year's allowance?

The transfer of last year's ISA would not affect this year's allowance. You could either add this tax year's allowance to the one to which you transfer last year's ISA (providing its terms permit it), or you can open a separate one for this year's allowance.

nls21

Thanks, it's great to know I don't need to wait until the ISA matures in July. The interest rate is 1.55% so I will move it now and open a new ISA for this year.

Consumerist

HardSpend wrote: »

. . . Bit confused, should I have transferred first then paid my allowance into the new provider??

By "this year", I assume you mean for the 2010/11 tax year.

I assume you are referring to the Post Office 1-year fixed-rate ISA at 3% AER. My understanding of their web page is that the quoted minimum and maximum refer only to cash deposits not to transfers-in.

If in any doubt, contact them and ask.
.

Lieutenant_Thrift

Hi, I'm thinking of opening this year's ISA with Santander which, according to the article, has a rate of 3.2% and transferring last year's £3700 to Yorkshire Bank which has 3% fixed rate.

Are the rates in the article still the best deals?

Many thanks,

LT

10_66

Lieutenant_Thrift wrote: »

...Are the rates in the article still the best deals?

Check out HERE and HERE to find out.

paulofalus

Remember to check with your current ISA provider what their rate is.

I was about to transfer from Natwest to Nationwide who are offering one of the best "transfer in" rates of 2.75%.

But because I opened the Natwest eISA before 14 May last year, I'm getting a higher rate than new customers. It's tiered, so for me it's 3.01%.

See the Natwest ISA rates here

This loyalty rate doesn't appear on the best buy websites.

I phoned them to check and urged them to highlight this to their customers because it's not at all clear.

ncrossland

I just rang up Santander, as I already have an ISA with them, and they told me that the Flexible ISA (Martin's current best buy) is now only open to those with a Santander current account, and I'd have to switch my current account to them to get the rate. :mad: