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Cash ISA maturing in August - leave now or wait?

paul_liverpoolfc

paul_liverpoolfc Posts: 52 Forumite

Tenth Anniversary

10 Posts

Combo Breaker

19 May at 11:33AM in ISAs & tax-free savings

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

0

Comments

slinger2 Posts: 899 Forumite

19 May at 11:40AM

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.

2
flaneurs_lobster Posts: 5,954 Forumite

19 May at 11:41AM

Where are you proposing moving the funds to?

0
paul_liverpoolfc Posts: 52 Forumite

19 May at 12:38PM

flaneurs_lobster said:

Where are you proposing moving the funds to?

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

0
t0rt0ise Posts: 4,441 Forumite

19 May at 2:46PM

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.

2

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