New second Fixed Rate ISA

DoneWorking

Hi 
Sorry if this has already been asked

I'm keen to open a new Fixed Term one year ISA using my unused £20k
Is it worth waiting till Dec for rate increases to filter through

Or as it's an ISA is this unlikely to be worth the wait

I need one where I can transfer £30k from my old Coventry BS Cash ISA who has not been funded for a few years

Any tips

Albermarle

Is it worth waiting till Dec for rate increases to filter through
Everybody keeps asking this question about timing, but nobody can give you a definitive answer. If you are looking for a one year fix, I would be tempted to hang on a bit longer. If it was a 3 or 5 year fix, I guess these will not go up much more, if at all. But I could be wrong.

Or as it's an ISA is this unlikely to be worth the wait

Not sure what you mean by this. ISA and non ISA rates will normally follow a similar trend.

DoneWorking

Albermarle said:

Is it worth waiting till Dec for rate increases to filter through
Everybody keeps asking this question about timing, but nobody can give you a definitive answer. If you are looking for a one year fix, I would be tempted to hang on a bit longer. If it was a 3 or 5 year fix, I guess these will not go up much more, if at all. But I could be wrong.

Or as it's an ISA is this unlikely to be worth the wait

Not sure what you mean by this. ISA and non ISA rates will normally follow a similar trend.

My comment re ISA was related to fact that as it's now some time since April maybe everyone is sorted therefore no need to raise  rates

On reflection I see this is not how it works

Albermarle

DoneWorking said:

Albermarle said:

Is it worth waiting till Dec for rate increases to filter through
Everybody keeps asking this question about timing, but nobody can give you a definitive answer. If you are looking for a one year fix, I would be tempted to hang on a bit longer. If it was a 3 or 5 year fix, I guess these will not go up much more, if at all. But I could be wrong.

Or as it's an ISA is this unlikely to be worth the wait

Not sure what you mean by this. ISA and non ISA rates will normally follow a similar trend.

My comment re ISA was related to fact that as it's now some time since April maybe everyone is sorted therefore no need to raise  rates

On reflection I see this is not how it works

It is the case that there tends to be a bit more activity with ISA rates/ more advertising/ even some enticements , just before and after the April deadline. However they still have to remain competitive during the year, as it is easy to switch and you can even switch fixed rate ISA's (with a penalty), as you can see from the numerous threads on the forum about doing just that.

DoneWorking

Upside to a five year fix on a cash ISA at or near 5% pa

If inflation drops to less than 2 % next year and remains low this is a nice return

Downside

Inflation stays at 10% or even higher due to current Union activity to raise wages leading to a dreadful loss

Other factors

More war

Climate Catastrophe 
Another Pandemic