Best instant access ISAs? 10 June 2005 at 11:31PM edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings 14 replies 2.1K views

isasmurf

Given that most of the top paying ISAs have recently closed to new investors, or had their interest rate reduced, what are the best buys now?

Yorkshire Building Society e-ISA: 5.2%
transfers in not allowed. Some sites seem to mention a transfer charge but I can't find one in their T&C

Kent Reliance: 5.11%
Partial transfers out not allowed. Do they accept transfers in? they have been known not to in the past.

National Counties: 5.10%
Not Stakeholder standard - although I can't see how it doesn't meet the Stakeholder terms

Then a whole host of ISAs at 5%.

Before anyone mentions it, yes I know about the First Direct e-ISA, but I don't see its worth mentioning with the bonus interest rate being reduced in 4 months.

Is any of this wrong? Anyone know of any more paying more than 5%?

alared

LTSB pay up to 5.15% depending on how much is in the account.
They have always been pretty consistant moreorless following what the BoE has done.

MJSW

Halifax Direct ISA Saver (phone operated account): 5.15%.

Kazza242

Teachers Building Society's mini cash ISA pays 5.15%.

Melton Mowbray Building Society pays 5.07%.

Safeway's ISA account pays 5.05%.

steady__eddie

Kent Reliance accepted my transfer in last July. I found that the downside was however that they do not pay the interest to a nominated a/c. If you want the interest, you have to request it by letter. Good if you are not prone to comfort spending.

jimclark1967

steady__eddie wrote:

Kent Reliance accepted my transfer in last July. I found that the downside was however that they do not pay the interest to a nominated a/c. If you want the interest, you have to request it by letter. Good if you are not prone to comfort spending.

Isn't it normally better for the interest to stay in the tax-free ISA wrapper anyway?

Certainly true what you say about comfort spending :cool:

cjn_2

HSBC pay 5.25%, although only on balances above 15k. Below that rates are fairly low.

muddyfox470

National Counties Building Society currently has a Guaranteed ISA which is paying 5.5% and is guaranteed to be at that rate until 6th April IIRC, but will also always be 0.5% above BoE base rate.

Have a l00k on https://www.moneyfacts.co.uk it is currently their best buy, and has eben featured in many papers. It is instant access and can be controlled via Chaps payments etc.

Have a look at their website https://www.ncbs.co.uk for more info.

Hope that helps

Ian

YorkshireBoy

muddyfox470 wrote:

It is instant access and can be controlled via Chaps payments etc.

Isn't "Chaps" an expensive way of moving money around though?

Kazza242

muddyfox470 wrote:

National Counties Building Society currently has a Guaranteed ISA which is paying 5.5% and is guaranteed to be at that rate until 6th April IIRC, but will also always be 0.5% above BoE base rate.

Have a l00k on https://www.moneyfacts.co.uk it is currently their best buy, and has eben featured in many papers. It is instant access and can be controlled via Chaps payments etc.

Have a look at their website https://www.ncbs.co.uk for more info.
Ian

There are penalties though, should you wish to transfer out of this ISA. A charge equivalent to 10 days' interest at the prevailing rate will be applied to the account. I think that's why many people didn't go for this cash ISA offering.

Milarky

Kazza242 wrote:

There are penalties though, should you wish to transfer out of this ISA. A charge equivalent to 10 days' interest at the prevailing rate will be applied to the account. I think that's why many people didn't go for this cash ISA offering.

That's rich considering the inevitable lost days interest when transferring to a different ISA anyway. On the other hand you can work it out as just 0.151%. [Maybe you could ask them to put a first class stamp on the envelope and wait until Monday morning to post the cheque!]