YORKSHIRE BANK: CASH ISA FIXED RATE BOND Issue 41 Maturing - options, advice sought

David_Drummond

Dear Forum members
I have a  YORKSHIRE BANK: CASH ISA FIXED RATE BOND Issue 41 Maturing on July 31 and have been offered by YB to transfer it to a similar Bond Issue 61 maturing 31 July 2023, with an interest rate of 1.00% Gross AER.
My question is, should I consider moving to another Bank/Bond and if so, which?
The sum involved is £20,000 and Yorkshire said I can also add funds if I wish, up to £20k until 30 September.
Well I have a further £20,000 now sitting in my lousy, downgraded  Santander 123 account and was thinking about moving that over to this Bond or a better one if it exists.
Any help would be greatly appreciated. Thank You everyone!

happybagger

I have the same but several years ISA cash in this account. I have decided to move the lot out of cash into S&S ISA.
Fixing at such a low rate is, for me anyway, something I'm not prepared to do.

grumiofoundation

David_Drummond said:

Dear Forum members
I have a  YORKSHIRE BANK: CASH ISA FIXED RATE BOND Issue 41 Maturing on July 31 and have been offered by YB to transfer it to a similar Bond Issue 61 maturing 31 July 2023, with an interest rate of 1.00% Gross AER.
My question is, should I consider moving to another Bank/Bond and if so, which?
The sum involved is £20,000 and Yorkshire said I can also add funds if I wish, up to £20k until 30 September.
Well I have a further £20,000 now sitting in my lousy, downgraded  Santander 123 account and was thinking about moving that over to this Bond or a better one if it exists.
Any help would be greatly appreciated. Thank You everyone!

Does it need to be in an ISA?
Does it need to be a 3 year fix?

For a 3 year fix you can beat 1% and get 1.1% (extra £20 per year) in an 3 year fixed ISA, you can get 1.3% (extra £60 per year) or 1.5% (sharia, extra £100 per year) outside an ISA.

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#3yrfixtable
https://www.moneysavingexpert.com/savings/best-cash-isa/#fixed