Best savings account?
- Thread starter Merlin5
- Start date
Soldato
- Joined
- 10 Oct 2006
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- 3,608
Virgin Money has a instant access ISA at 4.25%
Underboss
Soldato
Could you be specific or do you mean something like a Vanguard LifeStrategy accumulator product?
No life strategy no.
Im talking about individual gilts, e.g TN24/TN25. The coupon or interest is very low so most of the gain comes at maturity, you simply need to calculate the yield. The face value is £100 at maturity and for example TN24 is currently priced at £97.39 and matures on 31st January 2024. Yield to maturity is roughly 5.1% on TN24. Since the gain is capital gains free higher tax payers have been piling into these outside of ISAs.
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Soldato
Interesting. I'll look into this, thanks.
Soldato
Yorkshire building society variable rate ISA. 5% up to 20k, 4,5% above 20k obviously also tax free.
Underboss
can't see that one
Cash ISAs | Our best Cash ISA rates | Fixed and Variable - YBS - YBS DXP Prod
Help achieve your savings goals with a Cash ISA from YBS. We offer a range of Fixed Rate and Variable Rate ISAs. Find out which is best for you.
www.ybs.co.uk
Soldato
can't see that one
Cash ISAs | Our best Cash ISA rates | Fixed and Variable - YBS - YBS DXP Prod
Help achieve your savings goals with a Cash ISA from YBS. We offer a range of Fixed Rate and Variable Rate ISAs. Find out which is best for you.
My wife was telling me about yesterday. I know it was 4.5 / 4.0 before but she quoted it as having gone up. I will check.
Soldato
Kroo is still chasing chip. Got an email yesterday about increasing the rate on their current account to 4.35 AER.
I setup a LISA using Moneybox to save up for my first house. If you contribute £4000 per tax year the government add £1000 extra for free. I noticed this doesn’t have to be used for your first house but can also be used as a pension pot. Anyone else using it for this purpose?
I hope you researched this properly. It has lots of restrictions.
Using it as a pension is a bad idea generally. Google it.
Using it for a first house purchase and since I’m not in London I won’t ever hit the threshold for a 1st time property price.
Associate
Yes, instant.
I used it for first house.
I think I got 4k from it for free. Not to be sniffed at in the days of ultra low interst rates!
Just checked. I cashed out just over 20k. So yeah. 4k.from government
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Think I managed 8 as I used mine and the other halfs allowance. God, we got so lucky. The house we wanted went up to 475 and we low balled at 450. Thanks to Brexit they panicked and accepted.
I did think when I wrote that, must be a first! I await to be referenced by the pro Brexit crowd as a beacon of why Brexit made sense lol.******* hell, a genuine Brexit benefit!