One Year Fixed Cash ISA Maturity Question

DoneWorking

I have a One Year Fixed Cash ISA coming to maturity in  Feb 

I'm not sure whether to extend it at a rate around 4.8% for a one year fixed rate cash ISA
Or go for a transfer to a new one year fixed rate cash ISA at 4.98%
Or transfer to easy access cash ISA at just over 5%

As it's likely the rates are on a downward  trajectory is it best to go for the one year fixed 
The sums involved are not huge 

What would you do 🤔

eskbanker

Going with a 4.98% fix seems more sensible than a 4.8% one, but if you're then weighing up two options differing by 0.02% of a 'not huge' amount then it really isn't going to matter!

DoneWorking

I was just considering whether to go with fixed or easy access
But as easy access interest is likely to fall soon there seems no point 
Despite the lower interest I'm inclined to go with extending my current fixed cash one year ISA 
The loss of interest is about £36 which I can live with 

XzavierWalnut

I have been fixing mine for as long as I can for the last few months at the highest rate I could get.

DoneWorking

XzavierWalnut said:

I have been fixing mine for as long as I can for the last few months at the highest rate I could get.

Do you fix for one year
Or go for the slightly lower rate for longer fix period 

Farway

DoneWorking said:

I was just considering whether to go with fixed or easy access
But as easy access interest is likely to fall soon there seems no point 
Despite the lower interest I'm inclined to go with extending my current fixed cash one year ISA 
The loss of interest is about £36 which I can live with 

Depends, if the 4.98% fix is with Shawbrook I have just done that, applied online, and it was as nearly as quick as blinking

Bit of shuffling about finding your NI number, thinking up a password, memorable names etc but very easy to do

However, I put in new money, not ISA transfer so that may be a bit different

Malchester

Few weeks ago fixed with Gatehouse at 4.6% for 5 years. They now offer same term at 3.9%. It's a balancing act but new rules from April will help decision making 

DoneWorking

Farway said:

DoneWorking said:

I was just considering whether to go with fixed or easy access
But as easy access interest is likely to fall soon there seems no point 
Despite the lower interest I'm inclined to go with extending my current fixed cash one year ISA 
The loss of interest is about £36 which I can live with 

Depends, if the 4.98% fix is with Shawbrook I have just done that, applied online, and it was as nearly as quick as blinking

Bit of shuffling about finding your NI number, thinking up a password, memorable names etc but very easy to do

However, I put in new money, not ISA transfer so that may be a bit different

If I transfer to Shawbrook I make £36.00 more than if I just extend my existing one year fixed
To be frank I can't be bothered with the hassle to end up with £3 per month extra 

Albermarle

DoneWorking said:

Farway said:

DoneWorking said:

I was just considering whether to go with fixed or easy access
But as easy access interest is likely to fall soon there seems no point 
Despite the lower interest I'm inclined to go with extending my current fixed cash one year ISA 
The loss of interest is about £36 which I can live with 

Depends, if the 4.98% fix is with Shawbrook I have just done that, applied online, and it was as nearly as quick as blinking

Bit of shuffling about finding your NI number, thinking up a password, memorable names etc but very easy to do

However, I put in new money, not ISA transfer so that may be a bit different

If I transfer to Shawbrook I make £36.00 more than if I just extend my existing one year fixed
To be frank I can't be bothered with the hassle to end up with £3 per month extra 

Plus although the previous poster opened an account with Shawbrook easily and quickly, they have featured in  quite a lot of posts recently for very slow response times to any queries or problems.

soulsaver

Virgin Money 1 year 5.25%. 60 day early access penalty, better than most at 90. 
Need to open or have VM current account.

DoneWorking

soulsaver said:

Virgin Money 1 year 5.25%. 60 day early access penalty, better than most at 90. 
Need to open or have VM current account.

I'm not a fan of Virgin 
Plus I can't be fussed with opening a VM Current Account with them