Best interest rate on a fixed ISA

Nuclear Fusion · 4 Jul 2013 at 23:24

Hi, haven't really posted much in GD, but here I am!
I have a fixed ISA soon to mature so I'm looking for a replacement. I've had a look and I really can't seem to find any decent interest rates out there, even with longer term fixed ISAs. Currently I'm getting 3.65% on my 2 year fixed ISA from Halifax, but now their identical ISA on the same term is only paying 2.1%. Does anyone happen to know of any decent rate savings options out there that allow transfers of lump sums from one ISA to another? Also, I assume that an ISA transfer from one to another doesn't count as paying into an ISA (ie, I can still pay in my ISA limit into a separate pre existing ISA?) Thanks

Seft · 4 Jul 2013 at 23:33

Rates are indeed dire. First Direct has a 3% option if you hold a current account with them and can shift a large balance.

Nuclear Fusion · 4 Jul 2013 at 23:39

Thanks, I thought that was the case but just checking to make sure! I remember when one of my Dad's savings accounts was paying 8% interest after tax, it seems like it'll be a very long time before they get back to anywhere close to that.

DB_SamX · 4 Jul 2013 at 23:45

Go to moneysavingexpert; they have the best ones listed.

gort · 5 Jul 2013 at 08:26

Nuclear Fusion said:
Also, I assume that an ISA transfer from one to another doesn't count as paying into an ISA (ie, I can still pay in my ISA limit into a separate pre existing ISA?) Thanks

Some let you transfer, others don't. You need to read the small print.

Have you considered stocks and shares ISAs?

Nuclear Fusion · 5 Jul 2013 at 09:44

gort said:
Some let you transfer, others don't. You need to read the small print.

Have you considered stocks and shares ISAs?

I haven't, but maybe that could be a good option...

schumi84 · 5 Jul 2013 at 11:42

Aside from an ISA, the other option is to make use of the Santander 123 account which gets you 3% on over £2k (could be £3k). I have their 2 year fixed ISA (just done the first year) and it was 4% iirc whereas this year they only offer a similar to what you're getting at the Halifax.

Nuclear Fusion · 5 Jul 2013 at 14:46

Just took out a Barclays regular saver (3.25% AER, monthly deposits from £20 to £250) and a Nationwide Flexdirect account (5% AER on balances up to £2500). Though the Nationwide account only pays interest for up to £2500, that is still a pretty amazing interest rate compared to anything else I've seen. I had a look into the Santander account, but I'm not sure if having 4 different banking providers might be a bit much!