Where to switch to?

Indispensable_Hobbes

I have a YBS 5.80 ISA and a Barclays Tax Beater ISA

I'm considering moving my YBS one now and then shifting the Barclays one when the bonus rate ends and opening an 08 ISA with the best rate.

Alliance & Leicester Direct ISA (issue 4) - 6.25% :starmod: NEW :starmod:
Rate guarantee? No. Minimum deposit: £1. Operated via: Internet and Telephone.
Notes: Rate includes a 1.00% bonus payable to 31.05.2009.

But then the ...

IceSave Easy Access ISA - 6.10% :starmod: NEW :starmod:
Rate guarantee? Yes, but not at the current rate. Guarantees to be at least 0.30% above BOE base rate until 31st January 2011 and then at least BOE base rate until 31st January 2013.
Minimum deposit: £1,000. Operated via: Internet.

looks appealing.

Hmm what to do... what to do....

YorkshireBoy

Of the two you've mentioned, I'd go with A&L because...

1. The underlying variable rates on A&L's previous offerings (esp the Direct ISA 2) remained competitive throughout the bonus period of 12-15 months, and

2. There are delays being reported with transfers to IceSave, and I'm not sure whether they backdate interest...or not! :eek:

bristolleedsfan

jenyking wrote: »

I have a YBS 5.80 ISA and a Barclays Tax Beater ISA

I'm considering moving my YBS one now and then shifting the Barclays one when the bonus rate ends and opening an 08 ISA with the best rate.

But then the ... looks appealing.

Hmm what to do... what to do....

Transferring to either Abbeys New Direct ISA Saver 2 variable rate 6.25% ( from 3rd March) or Nationwides 1 or 2 year ISA 6.15% ISA fix will not incur any loss of interest while the transfer cheque is in transit and being banked unlike the two providers you mention.

Indispensable_Hobbes

I'm liking the Abbey one, I've just moved my current account there from A&L as I finished my 12months bonus rate. I need to go in tomorrow to change my address anyway so I'll enquire.

Cheers!

h5djr

You could consider the Lloyds TSB Fixed Rate ISA. Fixed at 6.50% for 12 months. You don't have to be a Lloyds TSB customer. If at the end of the 12 months their rate is not as good as some others just move it elsewhere.

Better to have a fixed rate at the moment as rates seem to be going down rather than up.

bristolleedsfan

h5djr wrote: »

You could consider the Lloyds TSB Fixed Rate ISA. Fixed at 6.50% for 12 months. You don't have to be a Lloyds TSB customer. If at the end of the 12 months their rate is not as good as some others just move it elsewhere.

.

Assuming poster has 9000.00 in ISAS.

Indispensable_Hobbes

I transferred apx £8500 last year to YBS and made no contributions as 07/08 money has gone to Barclays, so I dont think I'll be getting £500 in interest

coolio_2

A quick question re: TSB 6.5% one. I will have reached 6.5% come 10th April, can I move it then having already invested my 3.6k for tax year 08/09?

Indispensable_Hobbes

Did you mean reached 9k by 10/04? if you put 3600 in one provider for 08/09 you could transfer it at any time but you wouldnt be able to contribute to it.

coolio_2

okies, thnx. I just wasn't sure if I could transfer mid tax year having already contributed. I know you can't add more in.

mr_fishbulb

h5djr wrote: »

You could consider the Lloyds TSB Fixed Rate ISA. Fixed at 6.50% for 12 months. You don't have to be a Lloyds TSB customer. If at the end of the 12 months their rate is not as good as some others just move it elsewhere.

Better to have a fixed rate at the moment as rates seem to be going down rather than up.

Can you add to that during the year?

E.g. can I open the ISA with £1000, transfer in my £9K from another ISA, and still be able to add another £2000 throught the year?

Or once you have opened it, you can't add more?