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S&S ISA or HSBC Loyalty ISA?

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I currently have a S&S ISA  and wondering whether to transfer it to an HSBC Loyalty ISA at 2.3%.  I have £5000 in it.  Any advice welcomed.

Comments

  • dunstonh
    dunstonh Posts: 116,878 Forumite
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    Generically, a stocks and shares ISA and a cash ISA are very different things.  Plus, you have told us nothing about the S&S ISA.    Or what your objectives are.

    So, I am not sure how objective any responses could really be.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Catbells
    Catbells Posts: 859 Forumite
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    Its a GIC ISA with HSBC.  I want to ensure this small amount can make the most it can over the next few years.  What else do you need to know?  Thanks.

  • RobM99
    RobM99 Posts: 2,549 Forumite
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    Catbells said:
    Its a GIC ISA with HSBC.  I want to ensure this small amount can make the most it can over the next few years.  What else do you need to know?  Thanks.

    How stock markets will perform would help. No, we don't know either.
    Now a gainfully employed bassist again - WooHoo!
  • Catbells
    Catbells Posts: 859 Forumite
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    Yes I thought as much   :) 
  • Albermarle
    Albermarle Posts: 22,835 Forumite
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    Catbells said:
    Its a GIC ISA with HSBC.  I want to ensure this small amount can make the most it can over the next few years.  What else do you need to know?  Thanks.

    Do you already have any cash savings, for use in emergencies? 
    Do you have a pension that maybe would benefit from topping up instead?
    If you did transfer it why would you transfer it to an account with not a very good interest rate ?
  • Catbells
    Catbells Posts: 859 Forumite
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    edited 22 February 2023 at 12:24AM
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    Was away and just seen your message Albemarle. Thanks.   I've decided to put my money + some extra I had into a Yorkshire Building Society cash ISA at 3.9% for 2 years. I have a state pension and income from investments through an IFA which I hope will see me through ! 

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