S&S ISA or HSBC Loyalty ISA? 7 February at 6:47PM in ISAs & tax-free savings 6 replies 174 views

Catbells

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.

dunstonh

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.

Catbells

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

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.

Catbells

Yes I thought as much    

Albermarle

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

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 !