How to find historic top rate cash ISAs?

jungleboy123

Hi,

I'm considering transferring my HTB to a Cash ISA. Based on discussion here, I think i missed the peak of when it would have been the optimal rate for a fix. I would therefore like to know what the previous highest rates were, so at least i can make a fix based on a provider who is closest.

I would like to do this ASAP, as it looks like rates may start to drop after x-mas.

Cheers

eskbanker

jungleboy123 said:

I would therefore like to know what the previous highest rates were, so at least i can make a fix based on a provider who is closest.

If rates have declined from the peak then surely the current highest rate will be the closest to that?

However, if you see value in perusing historical data, the MSE cash ISA page is archived most weeks, so you can see yesterday's at:

https://web.archive.org/web/20221206094534/https://www.moneysavingexpert.com/savings/best-cash-isa/

and then step backwards from there to previous versions.

jungleboy123 said:

I'm considering transferring my HTB to a Cash ISA.

Not an obvious move unless you've already bought your first property?

jungleboy123

eskbanker said:

jungleboy123 said:

I would therefore like to know what the previous highest rates were, so at least i can make a fix based on a provider who is closest.

If rates have declined from the peak then surely the current highest rate will be the closest to that?

However, if you see value in perusing historical data, the MSE cash ISA page is archived most weeks, so you can see yesterday's at:

https://web.archive.org/web/20221206094534/https://www.moneysavingexpert.com/savings/best-cash-isa/

and then step backwards from there to previous versions.

jungleboy123 said:

I'm considering transferring my HTB to a Cash ISA.

Not an obvious move unless you've already bought your first property?

Thanks on that link.

Yeah, I've maxed the HTB and started a few years ago putting into a lifetime ISA. Unless its a shed I'm after, there's nothing in my area under £250k which I can use the HTB ISA, despite what the news articles keep saying about prices dropping etc.

refluxer

As eskbanker said, fixed rates peaked during November and have been sliding ever since, so the highest currently available will be the closest to those recent peaks.

But... FWIW, I keep an eye on rates every now and again and, from my records at least, the recent highs for Fixed Rate Cash ISAs were something like...

1 year - 3.95% (Kent Reliance)
2 years - 4.40% (Kent Reliance)
3 years - 4.65% (Hodge Bank)
5 years - 4.35% (Secure Trust)

Note that some of those were available for a very limited time (ie. days rather than weeks) so you would have had to be on the ball to take advantage of some of those rates.

I didn't include Nationwide's ISA rates (4.00% and 4.50% for 1 and 2 years respectively) as these were only for customers with maturing Nationwide Fixed Rate ISAs.

t1redmonkey

The best 5 year ISA was 5.05% from Cumberland BS (but had to live locally).  Best UK-wide 5 year ISA was 4.75% from West Brom BS (but sold out within 2 days, I managed to sign up to it in time fortunately!).  These were both early November I believe.  Not sure about the other terms, @refluxer 's figures for the 1/2/3 year ones sound about right though from what I can remember.

Frogletina

Coventry Building Society also had a one year fixed ISA for 3.95% - I'm not sure how long it was on offer for though.

refluxer

t1redmonkey said:

The best 5 year ISA was 5.05% from Cumberland BS (but had to live locally).  Best UK-wide 5 year ISA was 4.75% from West Brom BS (but sold out within 2 days, I managed to sign up to it in time fortunately!).  These were both early November I believe.  Not sure about the other terms, @refluxer 's figures for the 1/2/3 year ones sound about right though from what I can remember.

Ah, OK - I probably should have mentioned that I only tend to monitor accounts that are available to all (so discount any that are restricted to a local area, unless they're near me !) and I also ignore accounts that have no online access (because... well, it's 2022 !).

Must have missed that West Brom ISA - rates were definitely changing almost daily at that time !

happybagger

And State Bank of India had, and still has, 2 3 and 5 year fixes at 4.65%, for new money and transfers. The big downer is you can only open in person at one of their very limited number of branches.

hallmark

Altho' it's a fine point, factor in that the "Best" ISA shouldn't be judged purely on interest.  I'd also factor in the penalty for withdrawals, as that's something that matters currently (I've had to pay that several times in order to lock in a higher rate).

Just as an example, Virgin are currently the top 2-year fix @ 4.11% vs Charter Bank @ 4.10%.  However Virgin only has a 90-day penalty vs Charter Bank 180-day.