ISA matured today - should we hold off for new ISA?

UnsureAboutthis

As above, one of my ISA's has matured - it has a decent amount of money in it - buy a new, German car, mid range.

1 year fix at Barlays for my type of account is 4.8% or close to it.

I and my OH have a few other ISA's with them and aware of the FSCS limits.

I'm certain saving rates will go up but the BoE interest rate meeting is not until early Nov.

If I hold it it just moves to IIRC 1% or less rate. Having said that I tempted to call them tnight to help me move to their 1 year fix of about 4.8% for my type of account - but will wait until about 9pm see if anyone has good ideas - dont want to move to another saver as too much hassel unless they give good rewards - not interested in moving the Current Account for cash backs etc

flaneurs_lobster

I held off moving my matured cash ISA (used Dacia w/ 60k on the clock) for 10 days or so to let rates creep up but cracked yesterday and shoved it at Vanquis @ 4.9% fixed.

Albermarle

There is never any certainty about anything in the financial markets, interest rate movements included.

In any case the probable trend upwards, will already have been taken into account in the fixed term offers you see today.

UnsureAboutthis

Tonight I going to call them as I have decided - ie did calculations re the 70+k at 1% for one month and lets assume 5.1% in about 5 weeks ie BoE interest rate meeting - even if it did happen, I'd be slightly worse off.

Mu OH's 40+K IIRC matures in Dec ans does 20K of mine - The OH as another maturing ISA in Jan 2027 IIC that is a larger amount - we are with the same bank for these ISA's - as I said its much easier we find to change to the new one with them we do it over the phone in the hope there is no mistake—they are pretty helpful.

Thanks all - the way things are going - inflation is set to rocket again