Hbos Isa

The_Fiddler_2

Do you think the 6.2% for year deal for £3000 will still be available after the 6th i.e. 08-09. Is this a good deal anyway? I assume the next ISA year after that i.e. 09-10, you can open a new ISA with £3000 while HBOS one is still running.

Are there any better ISAs on offer?

Is it best to go with a cash and mini S&S or just go with a maxi S&S?

Since you are now allowed to transfer from cash to S&S how would this work with this account and are you able to move just a proportion of the cash?

Hope this all makes sense

dunstonh

Is it best to go with a cash and mini S&S or just go with a maxi S&S?

It depends on your circumstances and what you want to achieve. Some people will be best with a MAXI, some with both elements under a MINI.

Since you are now allowed to transfer from cash to S&S how would this work with this account and are you able to move just a proportion of the cash?

Part transfers will be allowed and the S&S ISA providers will have transfer forms to take this into account.

alared

The 6.2% is a FOUR year fix and the new limit from 6/4 is £3600,so it`s quite possible the site will update from the new tax year.

No one can forsee how inrest rates will move but I think four years is too long a time to tie up at 6.2%

StevieJ

alared wrote: »

The 6.2% is a FOUR year fix and the new limit from 6/4 is £3600,so it`s quite possible the site will update from the new tax year.

No one can forsee how inrest rates will move but I think four years is too long a time to tie up at 6.2%

Why?
The withdrawal penalty is 1/2 years interest which isn't to bad.

Liz_the_Whizz

The Fixed Rate Halifax ISA Saver is also available for 3 years @ 6%, if a 4 year fix feels just that bit too long.

alared

StevieJ wrote: »

Why?
The withdrawal penalty is 1/2 years interest which isn't to bad.

Half a years interest could be as much as £1085 on £35k

The_Fiddler_2

alared wrote: »

Half a years interest could be as much as £1085 on £35k

We're talking £3K or more correctly £3.6K, where does £35K come into the equation?

The_Fiddler_2

alared wrote: »

The 6.2% is a FOUR year fix and the new limit from 6/4 is £3600,so it`s quite possible the site will update from the new tax year.

Thanks, that's what I meant - I crunched my numbers wrongly

No one can forsee how inrest rates will move but I think four years is too long a time to tie up at 6.2%

It's only £3.6K that would be tied up, do you not think its worth the gamble? When have rates ever been much higher than that in an ISA account, especially over the longer term. (I know there is a 6.5% variable, but IMHO that is more likely to go down than up).

Mikeyorks

The_Fiddler wrote: »

We're talking £3K or more correctly £3.6K, where does £35K come into the equation?

The £3k is a minimum. You can transfer into this fixed rate .... so there could be £35k in play?

But .. your original question .... you surely wouldn't want to transfer out of this into a SS ISA - as the 180 day penalty would apply. And that's significant .... no matter what post #4 implies.

The_Fiddler_2

Mikeyorks wrote: »

The £3k is a minimum. You can transfer into this fixed rate .... so there could be £35k in play?

I've looked again and I am pretty sure you can only put £3K (this year) into the 4 year ISA (even by transfering funds) unless I am missing something.

I am hoping it will still be running after the 6th and that you can deposit £3.6K

But .. your original question .... you surely wouldn't want to transfer out of this into a SS ISA - as the 180 day penalty would apply. And that's significant .... no matter what post #4 implies.

No probably not, but just wondered in theory

alared

Fixed Rate Halifax ISA Saver





Take advantage of tax-free saving with a fixed rate mini-cash ISA. Interest rates are guaranteed over a choice of terms from 1 to 4 years – currently offering 6.20% AER/gross p.a. on the 4-year term.

• Open with £3,000 - this can come from your current tax year subscription and/or transfers from previous tax years' mini-cash ISA savings with other providers.
• Your mini-cash ISA interest rate for the term you choose is fixed so you’ll know exactly how much you'll earn
• Only one deposit on account opening - No additional deposits or withdrawals
• Fixed interest is paid on maturity

If you are currently with another provider and would like to move your savings, we'll help you transfer your ISA. Saving with Halifax couldn't be easier with our free transfer service.

A bit ambigious

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"no additional deposits"

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help to transfer from another provider to your Halifax ISA