Top Cash ISAs Discussion Area

singhji

Hi,
I want to open an fixed rate ISA for 1 year which gives 1.5% with Halifax. I haven't opened any ISA since april. Can I open with Halifax now and should I be able to open another ISA in april this year.
Also I got 3000 sitting in RBS ISA from few years which doesn't give much interest. If I transfer the money, then I can only save whatever limit left over or can will I able to open another ISA in one year.

Both are different scenarios.
Thanks for the help.

KTF

This would have been better asked in a new thread in the forum but to answer your questions:

Yes

Yes

You can transfer the old ISA in then top it up with the full years allowance.

Archi_Bald

singhji wrote: »

I want to open an fixed rate ISA for 1 year which gives 1.5% with Halifax.

You can do a bit better than 1.5% in other places - - check post 1 of this thread https://forums.moneysavingexpert.com/discussion/401374

Consumerist

RSteve wrote: »

Martin's guide to ISAs says that if I am a basic-rate taxpayer, which I am, I lost 20% of my interest in a regular savings account to the taxman. I understand that, but he goes on to say that this means an ISA will pay me a quarter (25%) better than a savings account with an identical rate.

Say you earn £100 interest in a tax year then your tax liability will be £20 leaving you £80.

You get the whole £100 interest in an ISA. i.e. £20 more than in an ordinary savings account.

That £20 is 25% on top of the £80 from the ordinary savings account.

The question is: are you comparing the £20 with a £100 original value or with an £80 original value.

Hope that hasn't confused you even more.

yesitwasme

It's the end of my 2.5% deal and the best alternative out there is 1.5% which is below inflation so it's pooh.
Yes there are better than 1.5% but they are fixed or few withdrawals or can't transfer, so no good to me.

Going to transfer the lot to a (is it okay to mention companies on here?) Stocks and shares is a that invests in blue chip companies that pay good dividends that are currently around 4%, with the possibilities of capital growth :T

This cannot be pooh:p

Consumerist

yesitwasme wrote: »

This cannot be pooh:p

But it's a lot riskier. No dividend lasts forever so it could indeed be pooh.

yesitwasme

Consumerist wrote: »

But it's a lot riskier. No dividend lasts forever so it could indeed be pooh.

Very true, but if the blue chips stop paying a divi there's no much hope for any of us. Shouldn't be difficult to beat a cash is a paying 1.5% which has no capital growth what so ever.
The fund is managed so if one company became less attractive I'm sure it would be dropped from the portfolio.
Got to have faith ! The economy is on it's uppers! What could possibly go wrong? :j

calypso_rhapsody

Any one know why the KRBS instant access ISA paying 1.7% does not appear on the MSE list of top paying cash ISAs??

mike33_2

calypso_rhapsody wrote: »

Any one know why the KRBS instant access ISA paying 1.7% does not appear on the MSE list of top paying cash ISAs??

Was wondering this also has I've recently had a isa with these which matured and they offered me the fixed rate for 1 year at 1.8% but I chose this one instead and no problems so far.

Archi_Bald

The main MSE site is not, and has never claimed to be afaik, the ultimate directory for all best ISAs (or any other savings or current accounts).

However, there is a forum initiative, pulled together by user Kazza, which lists the best ISAs people could find. The KRBS 1.7% has been on it for a while. See first post of https://forums.moneysavingexpert.com/discussion/401374