Best plan if have full ISA amount to deposit

BigDonut

Hi All,

I'm fortunate enough to be in the position to have the full amount available to deposit in an ISA.

Currently thinking that the best option is to open a principality 6 month fixed rate (6.49%) then transfer from that into another good rate ISA such as the IceSaveISA

I'm probably going to transfer my existing ISA into the IceSave one anyway.

Does this seem like a good plan?

Lokolo

Upto you however 6 months is a little short. A lot of people are predicting that the IRs in around 6 months will be quite low, so when you come to move it you won't have very good choices.

However, it is a good rate for 6 months but its really upto you.

BigDonut

Thanks .

I've also considered going with something like the 6.25% on offer from bradford and bingley since it is fixed for a year and even if rates go up the 6.25% will still be competitive.

Rouch calculation I think the difference between the 6.5% and 6.25% for 6 months will be 4.50.

The decision I need to make is whether rates will go up or down in 6 months.
If they go up then principality will be the best option
If they go down bradford and bingley is the best option

Now where did I put that crystal ball....