Repay Flexible Cash ISA from Regular Savings?

Miss_Sharon

Hi,

This financial year I withdrew funds from a Flexible Cash ISA to pay into multiple Regular Savers with higher interest rates.  That worked for me.  I'm a basic tax payer but time away travelling put me into the no tax bracket.  At this time of year, I'd normally repay the Flexible Cash ISA but now the savings interest rates have fallen, I'm wondering if it's better for me to keep my money in the higher interest Regular Savers.  I'll be a basic tax payer next financial year.... 

Probably 6 of 1 & half a dozen of the other but I was wondering if anyone had some advice.  I think I'm considering between the higher interest earnings of the existing Regular Savers & the tax free wrapper of the Cash ISAs.  I'd normally just repay the Flexible Cash ISA & take the funds out next financial year to do the same but comparable Regular Savers mostly aren't available.

Any thoughts....?  I'll think I'll keep the 8% + Regular Savers & cash out the rest.

jimjames

Sounds like a good plan. Even with 20% tax the rate will be higher than ISAs

eskbanker

Difficult to say without more detail of your aggregate savings and their taxation (if any), etc - do you normally/always use all of your £20K annual ISA contribution allowance?

fromscratch

I'm going to keep most of my regular savers. 2 have just matured so I'm putting them in the ISA- then will renew them on April 6th. I've got one RS that I can withdraw the whole balance and then replace it a day later, so I'll do it with that one. 

What 8%+ regular savers have you got??? am jealous, I've only got one at 10%