Best Cash ISA

Miranda25

Thank you Albermarle.
Why is it a gamble with fixed rate? I thought that fixed rate supposed to stay "fixed", otherwise why would they call it fixed?

colsten

Miranda25 said:

Thank you Albermarle.
Why is it a gamble with fixed rate? I thought that fixed rate supposed to stay "fixed", otherwise why would they call it fixed?

The gamble is that better rates might become available. Your money will be tied up in a lower rate, thus you will not be able to move that money to the better rates. Your judgment call whether you want to gamble on rates going up..... or going down....... or staying the same....

Miranda25

OK:-)) I don't think rates will go up in current economic circumstances.

Albermarle

Miranda25 said:

OK:-)) I don't think rates will go up in current economic circumstances.

You are probably right. In any case you usually  get a better rate for tying your money up for longer whatever the current economic situation.

Miranda25

Regarding Help to Buy ISA:
Anybody found interest rate better than 1.75% HSBC bank please? 
Natwest has 2% interest rate but I cannot understand if they accept transfers from another providers or not? Please share your ideas if you found something

colsten

https://www.moneysavingexpert.com/savings/help-to-buy-ISA/

Miranda25

Let's say I would like to transfer Help to Buy ISA to HSBC bank. Do I have to open current account with them first or can apply for transfer straight away? Thanks.

Miranda25

Question regarding Natwest bank please:
They say about Help to Buy ISA :
Help to Buy: ISA (from 1 December 2019 this account  is not available for new customers)
What does it mean- it is not available to people who would like to start savings HTB or it is not available to transfers from other providers too? Thanks

lhsecons

I’ve looked at both of these. I couldn’t see any mention on HSBC about needing a current account, so I don’t see why you should. You are right about Natwest. It doesn’t give any information on transfers. Maybe contact them to ask?

Miranda25

Maybe it would be helpful for someone:
I talked to Natwest. They stopped HTB ISA in 2019 and do not accept transfers from other providers.