2 year Fixed Rate Cash ISA has just matured

paul_liverpoolfc

Hi

My 2 year Fixed Rate Cash ISA paying 0.3% with Lloyds has today matured.

I'm thinking of switching to another 2 Year Fixed Rate with Shawbrook Bank, as I've been with them before, and they offer a rate of 2.8%.

Would it be best to switch to a new provider now or wait a few weeks to see if the rates improve?

Thanks

Paul

2010

paul_liverpoolfc said:

Hi

My 2 year Fixed Rate Cash ISA paying 0.3% with Lloyds has today matured.

I'm thinking of switching to another 2 Year Fixed Rate with Shawbrook Bank, as I've been with them before, and they offer a rate of 2.8%.

Would it be best to switch to a new provider now or wait a few weeks to see if the rates improve?

Thanks

Paul

Personally I would switch to a variable rate ISA and see what happens with rates towards the end of the year.
There`s still three more BoE rate meetings this year.

Skipton are paying 1.60% easy access

https://www.skipton.co.uk/savings/isas/online-cash-isa-saver?utm_source=moneyfacts&utm_medium=aggregator&utm_content=listings_desktop&utm_campaign=online cash isa saver moneyfacts&dclid=CLz7r4763_kCFeOlUQodNiIKKQ

You can always switch again when fixed rates improve.

xylophone

Would it be best to switch to a new provider now or wait a few weeks to see if the rates improve?

Even if you require instant access you might want to transfer - what  does Lloyds offer for your maturing funds?

https://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html

eskbanker

paul_liverpoolfc said:

My 2 year Fixed Rate Cash ISA paying 0.3% with Lloyds has today matured.

😮 Whatever you choose to do, at least it'll be better than tying up money for two years at a derisory pittance!  Was that ever competitive, even when rates were bottoming out prior to recent increases?