Cash ISA maturing in August - leave now or wait?

paul_liverpoolfc

Hi,

I have a Virgin Cash ISA paying 4.47% interest maturing on the 24th August and I can't decide whether to leave now and pay the 60 days interest charge (about £90) or wait until the 24th August?

Are rates likely to be lower than now in August?

Thanks

Paul 

slinger2

60 days interest is about 0.75%. Markets are expecting a 0.25% cut in the base rate on 7 August but overall it's difficult to believe that paying 0.75% will be worth it.

flaneurs_lobster

Where are you proposing moving the funds to?

paul_liverpoolfc

flaneurs_lobster said:

Where are you proposing moving the funds to?

I was thinking about Lloyds' 4% 1 year Cash ISA. 

t0rt0ise

paul_liverpoolfc said:

flaneurs_lobster said:

Where are you proposing moving the funds to?

I was thinking about Lloyds' 4% 1 year Cash ISA. 

You can do better than 4%. I've just opened a Shawbrook 1 Year at 4.26%. But I wouldn't cut another ISA short for it.