ISA's ... anyone know of any decent ones?

Liam

Liam

Liam

Soldato
Joined
24 Jul 2004
Posts
3,192
That time of the year again. Last year Lloyds TSB gave me a whopping £30 on my ISA ... anyone know of any reasonable ones with a decent interest rate?

Cheers :)

EDIT - 3,000 posts :D
 
It's a waste of time investing in a cash isa at the moment. You may as well spend the money as even at 3.2% you are losing money. If you are saving long term look to invest in a stocks and shares isa; i'd rather invest in premium bonds then a cash isa!
 
dazzerd said:
It's a waste of time investing in a cash isa at the moment. You may as well spend the money as even at 3.2% you are losing money. If you are saving long term look to invest in a stocks and shares isa; i'd rather invest in premium bonds then a cash isa!
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Perhaps but then again it's potentially a longer term strategy because you can only put a certain amount in per year but whatever is in there will earn you interest tax free e.g. if you continue to put in the maximum per year then when interest rates go up again you'll get the benefit from the £10k (or whatever) that you've put in there while lower rates were on offer.

Ultimately though, your money your choice. If you see more benefit from using it now than saving it and guessing that interes rates will go up then fair enough.
 
If I've got money to pump into an ISA before the end of the financial year (but only with HSBC who offer a pathetic rate), am I correct in thinking I can at least put the money into the HSBC ISA and then just tranfer it all to a better account after 6th April once I've decided? (whilst still being able to deposit the full amount next year)
 
aftershxck said:
If I've got money to pump into an ISA before the end of the financial year (but only with HSBC who offer a pathetic rate), am I correct in thinking I can at least put the money into the HSBC ISA and then just tranfer it all to a better account after 6th April once I've decided? (whilst still being able to deposit the full amount next year)
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Yes and yes. Although if you're at all unsure then do speak to a financial advisor, don't just rely on a bloke on the internets say so.
 
dazzerd said:
It's a waste of time investing in a cash isa at the moment. You may as well spend the money as even at 3.2% you are losing money. If you are saving long term look to invest in a stocks and shares isa; i'd rather invest in premium bonds then a cash isa!
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Premium bonds are considerably worse than a cash ISA.
 
Oxy said:
whats the min deposit amount for an isa? I have £5,000 saved up thus far.
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It depends on the ISA but many will allow you to save from £1 upwards. If you mean what is the maximum then the current limit is £5,100 and next year it goes up to £5,340 - that's for a straight cash ISA, for a stocks and shares ISA also the allowance doubles but you get half for each.
 
You don't really lose money atm with a cash ISA even if the interest isn't that great, infact its one of the only ways to keep your savings in any vaguely healthy shape (short of micro managing a more risky investment scheme). Most esavers have fallen to pence returns wise and short of the previously mentioned mico-managing your likely to make a loss atm with anything tied directly to the economy (with no guarantee of making it back in the future).

Sure only making about £10 a month one mine atm but better than nothing.
 
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I would only invest in stocks and shares if you weren't planning to take the money back out anytime soon. ie: if it was for a long term until retirement

Short term = Cash ISA
 
I wouldnt touch a Stocks & Shares ISA nowadays. Watched my dad put in a load in 2000 and is only up 10% if that. Thanks to various events 9/11 etc.
 
Yeah seen people lose a good amount on similiar and I don't really see them making it back in the long term... definitely sticking to cash ISA myself.
 
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