Top Cash ISAs Discussion Area

missprint

Yes you will.

welshdragon1

Well I have finally saved the £3,600 I need to open an ISA. Now the question is, as of today, July the 13th, where is the best place to invest? Who has the current highest interest rate on offer? Many thanks

Crabman

welshdragon1 wrote: »

Well I have finally saved the £3,600 I need to open an ISA. Now the question is, as of today, July the 13th, where is the best place to invest? Who has the current highest interest rate on offer? Many thanks

Take a look at the article and best-buys

JayZed

Crabman wrote: »

Take a look at the article and best-buys

But as noted in my previous post the best-buy article only lists instant-access ISAs, of which the best is 6.25%. There are restricted-access ISAs out there at better rates (e.g. Skipton BS and Julian Hodge at 6.5%). I'm still curious about whether there's a specific reason why Martin doesn't include those in the Cash ISAs article.

JimmyTheWig

From Martin's article...

The alternative is to use a fixed-rate cash ISA, which is a good option if you don't think you'll need regular access to your cash. While this means your money is supposedly locked away for 1 to 5 years, providers are forced to permit withdrawals, usually with an interest penalty of between 60 and 180 days. At the moment, the best is Skipton BS's Fixed Rate Cash ISA at 6.5%.
This means you can take advantage of guaranteed earnings if interest rates begin to drop, but have a way out if they start to rise and better deals are available elsewhere. For a full list of fixed rate ISAs use the MoneySupermarket* (select Bond or Term accounts) comparison or Moneyfacts.

stars_bright

Can someone advse me? I have an A&L ISA which has become dormant because I didn't pay any money into it last year so I cannot put any more money into it. I was rather annoyed with A&L for not elling me this and was going to close the account and open a new ISA. But, the best interest rate on ISAs is HSBC and they will not allow transfers in. Do you think it would be a good idea to leave my old A&L ISA, which is getting 6%, as it is, and then open a HSBC ISA at 6.25% for any savings this year? The otheer option it so open a First Direct regular saver ISA which is offering 7% for the first year, the downside to that is that you have to put a regular amount in each month and I don't think you can start off with a lump sum, which I would wont to do.

jamesd

Best route is to open a new ISA with the best rate for new money and transfer the old one to the best rate that accepts transfers in, provided that rate is over 6%. The regular saver won't be as good a deal if you have a lump sum available.

djpeteboy

I was all set to open my Barclays Cash ISA as they are the highest interest rate recommended in Martin's Article and then on Radio 4 heard that Barclays have invested heavily into the regime in Zimbabwe - I think they have loaned £750M to the leaders of the regime. What does anyone else think - can I in any way justify investing my money with a company that supports a regime like this? Is money saving more important than ethical banking...?

CharlotteP_3

If you put the full amount into an ISA do you have to leave it in there until April to get the interest or do they do it monthly? I only ask as the one i have already updates the interest received after April 5th

I have a Kent Relliance Isa that i opened in 2000 can i put £3600 in there now and then open another ISA and put £3600 in there also?

David_Mee

welshdragon1 wrote: »

Well I have finally saved the £3,600 I need to open an ISA. Now the question is, as of today, July the 13th, where is the best place to invest? Who has the current highest interest rate on offer? Many thanks

You don't need the full £3600 before you can open one - you can open some with £1 and then put money in as and when you get it - means you earn tax free on all the savings rather than leaving money in account where you pay tax until got £3600