Best saving account

masonic

epm-84 said:

badger09 said:

epm-84 said:

badger09 said:

MayzD said:

Currently putting £1000 a month away in a instant ISA saver with Nationwide. Is there a better account where I can get more out of it? 

Unless you're earning over £1000 interest in a year (tax year) or are a higher rate taxpayer, you would earn more by paying your £1k a month into a number of regular savings accounts, or an instant access savings account, or a combination of both.

The unknown is how much they already have in the ISA.  If they've been paying in £1000 for a month for a number of years then it might be a sizable amount.  The £1000 tax free amount and the ISA subscription amounts could change in future tax years.
...............

True, but even if OP has more than £50k in the ISA (which I very much doubt), the interest rate is 0.05%.

https://www.nationwide.co.uk/products/savings/instant-isa-saver/features-and-benefits

I stand by my previous comments

Although, if they follow your advice of non-ISAs potentially having slightly higher interest rates and withdraw £50k, for the sake of the argument, from their ISA and move it to alternative saving accounts, then they'll have over £62k outside of ISAs at the start of the next financial year by the time they are investing 1k per month.  Then if the Chancellor does make savings less tax friendly in the future, they'll only be able to reinvest one year's ISA subscription back in to an ISA.

Since the ISA is flexible, the full balance can be withdrawn towards the start of each tax year and replaced by the end of each tax year. The OP could choose between easy access, <1 year fixed term accounts and notice accounts which could deliver a superior result than transferring to a different cash ISA.

Taking advantage of a few regular saver accounts opened around now could enable the OP to earn a higher rate of interest on next tax years ISA contributions. Since most of these are somewhat flexible, in the unlikely event the ISA allowance is cut below £12k there would be the opportunity to subscribe at short notice.

barneybuster

A large ( long established 300 years ) wealth management company are offering 2.5% - 3.5%
fixed rate returns ( fca protected ) how is this possible in these times?

eskbanker

barneybuster said:

A large ( long established 300 years ) wealth management company are offering 2.5% - 3.5%
fixed rate returns ( fca protected ) how is this possible in these times?

Name them....

Albermarle

barneybuster said:

A large ( long established 300 years ) wealth management company are offering 2.5% - 3.5%
fixed rate returns ( fca protected ) how is this possible in these times?

FCA protected does not mean anything as far as I am aware .

masonic

barneybuster said:

A large ( long established 300 years ) wealth management company are offering 2.5% - 3.5%
fixed rate returns ( fca protected ) how is this possible in these times?

It isn't possible. You have probably found a scammer trying to impersonate said company, or you have misunderstood the product.

where_are_we

barneybuster said:

A large ( long established 300 years ) wealth management company are offering 2.5% - 3.5%
fixed rate returns ( fca protected ) how is this possible in these times?

Your capital will be at risk