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cash ISA vs ordinary savings (raisin sign up bonus)
eaustin
Posts: 486 Forumite
My partner and I have £65,000 between us in cash ISAs with Nationwide. The rate has just dropped to 0.25%.
We also have another £40,000 that recently matured from an ordinary savings account , these funds are currently sitting in an offset mortgage account (rate 0.85%) Mortgage balance £75,000.
Is it worth reinvesting in a new cash ISA 1.0% variable or 1.25% fixed for 1 year to keep the tax-free? Or should I transfer into an ordinary savings account(s) where rates are a bit better? I've seen rates around 1.6% and an additional bonus if I go via raisin.
What should I do? Is raisin reliable? I've read they drop rates as soon as you sign up.
Is it worth reinvesting in a new cash ISA 1.0% variable or 1.25% fixed for 1 year to keep the tax-free? Or should I transfer into an ordinary savings account(s) where rates are a bit better? I've seen rates around 1.6% and an additional bonus if I go via raisin.
What should I do? Is raisin reliable? I've read they drop rates as soon as you sign up.
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