Caporegime
My Chase Boosted is still at 5.1%, hopefully will be until November.
Nationwide still at 8% but £200 a month deposit only.
Nationwide still at 8% but £200 a month deposit only.
Best savings account?
- Thread starter Merlin5
- Start date
interesting are you using the app and have you updated it ?
my chase dropped to 4.85% this morning , I have the 1% booster till 16th jan
Soldato
Your lucky with Shawbrook then, or I was unlucky as was the other person I know, they took the 20 working days allowed for a cash transfer April 2024.
Nobody is staying at 5.1% so dont worry, mine is also down to 4.85%.
Caporegime
I am using the app, even deposited in some money today. Still at 5.1%.
Soldato
- Joined
- 29 Sep 2010
- Posts
- 6,150
4.75% from 14th October: https://www.ulsterbank.co.uk/savings/manage-your-savings/savings-interest-rates-changes.html
yeah literally got the email 2hrs after posting, still one of the top rates for the next 67 days !
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New email from Chase, they are lowering it even further to 1.25% below base rate in October.
So with the 'boost' it'll be 0.25% below base rate vs 0.15% now.
Bit of an ISA limit question as I now pretty much hit my ISA limit for this tax year. How much of a buffer do you keep to stop it topping over ?
Is it safe to say
ISA balance minus - £150 to stop the interest accumulated putting it over your ISA limit. ? Or can your save to thre £20k and the interest earned that you receive will not put you over the limit ?
Not that £150 will make much of a difference to interest anyway.. it's more my OCD
Is it safe to say
ISA balance minus - £150 to stop the interest accumulated putting it over your ISA limit. ? Or can your save to thre £20k and the interest earned that you receive will not put you over the limit ?
Not that £150 will make much of a difference to interest anyway.. it's more my OCD
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Bit of an ISA limit question as I now pretty much hit my ISA limit for this tax year. How much of a buffer do you keep to stop it topping over ?
Is it safe to say
ISA balance minus - £150 to stop the interest accumulated putting it over your ISA limit. ? Or can your save to thre £20k and the interest earned that you receive will not put you over the limit ?
Not that £150 will make much of a difference to interest anyway.. it's more my OCD
The ISA contribution limit applies to your contribution, not any interest subsequently earned.
Soldato
Got the Chase email today, rates are dropping, I've got the boost, so still decent for now, think the drop takes effect October, 3.85% I think it will be, 4.85% with the boost.
Associate
I didn’t realise that once you move the interest from your ISA, it’s taxable.
Indeed. Unless you need to spend it immediately, probably best to keep it all in the ISA account rather than getting it paid elsewhere.
Associate
- Joined
- 5 Nov 2005
- Posts
- 2,178
Are you sure? Below is what Google says -
"interest earned in an Individual Savings Account (ISA) remains tax-free as long as you withdraw it within the same tax year and you haven't exceeded your annual deposit allowance. Withdrawals from an ISA, including interest, dividends, or cash from selling investments, don't count as taxable income and don't need to be included on a UK tax return. "
Is everyone talking about the same thing here? From the point that you take money out of the ISA you lose the tax free protection on it "going forward". That doesn't mean that some sort of "back tax" becomes payable on the interest earned whilst it was in the ISA.
Soldato
Am not sure what people are getting confused about but if you put 20K into your 24/25 cash isa and on April 4th 2025 the balance is 21K due to interest then that 21K is still in the ISA wrapper and tax protected.
That's not what he said though.
Don
That Google quote is straight up wrong (for the U.K.).
Edit: or doesn’t make any sense anyway need to take the interest out in the same year to avoid tax.
Edit: or doesn’t make any sense anyway need to take the interest out in the same year to avoid tax.
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