Best savings account?

413x said:
Cash as its only short term.
I have a S&S already

Another question.
Do these rates change ad hoc? Never had a cash isa before.
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Yes they can change.
Many times the rate is lower but with a first year bonus, its how they hook in the less aware.
It will be fine for you anyway for your shortish term requirement

All savings / variable accounts can be a pain during volatile interest times. They may switch between competitive rates and not at any time.
 
Mercenary Keyboard Warrior said:
Yes they can change.
Many times the rate is lower but with a first year bonus, its how they hook in the less aware.
It will be fine for you anyway for your shortish term requirement

All savings / variable accounts can be a pain during volatile interest times. They may switch between competitive rates and not at any time.
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I'm not too bothered.
This will start with about 5k in and then build up to 10-13k by next year. So I'm not really bothered if it's 3.5 or 4.5 for example.
 
413x said:
I'm not too bothered.
This will start with about 5k in and then build up to 10-13k by next year. So I'm not really bothered if it's 3.5 or 4.5 for example.
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Ones that are competitive now will probably remain so

They are often a little slower to adjust rates as they know switching is a bit more painful.

I was looking and surprised you can get a 5 year fixed ISA with ZOPA at 5%
Thats almost tempting.
 
Mercenary Keyboard Warrior said:
Ones that are competitive now will probably remain so

They are often a little slower to adjust rates as they know switching is a bit more painful.

I was looking and surprised you can get a 5 year fixed ISA with ZOPA at 5%
Thats almost tempting.
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Yeah if you don't need the money for 5 years, you'd hope, in a couple of years time that will be higher than base.

With my 3 year moving plan I don't want to fix for anymore than 3 years on anything at the moment

All my spare cash for 8 months in going into the cash isa (aka van fund)
 
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413x said:
Yeah if you don't need the money for 5 years, you'd hope, in a couple of years time that will be higher than base.

With my 3 year moving plan I don't want to fix for anymore than 3 years on anything at the moment

All my spare cash for 8 months in going into the cash isa (aka van fund)
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My main ISA is S&S anyway, but with cash rates as high as they are I am looking to put at least some in cash this year.
I may however do the vanguard cash hack and drop my cash in there and never invest it.
Its a risk of a variable rate but its not bad from experience.
 
SupraWez said:
Just got an email from ii that they have increased the interest paid on cash balances in their ISA and normal trading accounts.

up to 10k 2.25%
10k to 100k 2.5%
over 100K 3.5%

Better than the banks instant access savings accounts.
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That's not great, Shawbrook have recently upped my instant access ISA to around 3.75% with minimum £1k balance.
 
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200sols said:
Just buy short dated gilts in the ISA, yields to maturity are above 5%.
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I was thinking of doing this. Apparently certain issues don’t attract CGT on the capital appreciation so you can invest through a general investment account and only pay tax on the income which is a tiny portion of the total profits. Good if you have used up your tax allowances for the year.
 
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Hi all,

As i will soon be near maxing out NS&I i was looking at somewhere else to save to yeild some decent money back, ideally in a fix term bond either 6 month, 9 month or year, it it worth doing this rather than overpaying on the mortgage then the interest made in savings can be used to overpay on mortgage ? or is it just better to overpay on mortgage?

Who is using one of these 6, 9 month, 12 month fixed bonds accounts, if i say move a small amount from my premium bonds in to fixed rate bond and then start saving in to that would that be good and then i can build it up? what would people recommend at the moment? anyone got any decent stats on how much they are making ?
 
DJMK4 said:
Hi all,

As i will soon be near maxing out NS&I i was looking at somewhere else to save to yeild some decent money back, ideally in a fix term bond either 6 month, 9 month or year, it it worth doing this rather than overpaying on the mortgage then the interest made in savings can be used to overpay on mortgage ? or is it just better to overpay on mortgage?

Who is using one of these 6, 9 month, 12 month fixed bonds accounts, if i say move a small amount from my premium bonds in to fixed rate bond and then start saving in to that would that be good and then i can build it up? what would people recommend at the moment? anyone got any decent stats on how much they are making ?
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It depends on how much your mortgage is, rate and how long it is fixed for, and what rates you will be looking at when it comes to renewal?

If the Mortgage is low and the rates is low then i would personally stick your money up until getting the annual max interest of (i am assuming £500 in your case) into something like Chip for now at least until you know what to do with it and then the rest in an ISA.
 
Raymond Lin said:
It depends on how much your mortgage is, rate and how long it is fixed for, and what rates you will be looking at when it comes to renewal?

If the Mortgage is low and the rates is low then i would personally stick your money up until getting the annual max interest of (i am assuming £500 in your case) into something like Chip for now at least until you know what to do with it and then the rest in an ISA.
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I still have £135k on the mortgage and im completing on a re-mortgage in 2 days on a 5 year fix @ 3.95%
 
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