Current Interest Rates HELP!!!

Nathan

Nathan

Nathan

Soldato
Joined
4 Feb 2003
Posts
5,311
Location
West Midlands
Trying to find the best inertest rates for a cash isa, the best i have found so far is 5% with halifax, i am currently with Lloyds TSb who are offering 4.40. Can anyone find any better as i have heard that you can recieve upto 8%.

Cheers
 
That's quite odd. I was checking ISAs a few days ago and I too swore saw somewhere online or on tv an isa with 8% but havent been able to find it. ATm I am with Halifax at around 4.5%. IIRC, the 5% is only if you have something like £30K in the account, which I haven't :(

Good thing with halifax, i can take money out/transfer without informing them before and without charges. I would have thought that any other with higher rates would charge you for doing so or something.
 
i think the best you can get at the mo is 5.3% for an notification ISA (tax free) - I know because I looked into the Portman Building Society one - and probably around 7% for a taxed account (as in a regular saving account which you need to pay into monthly)

So they both work out roughly the same (unless you have a lot of money to put aside) ;)

But 5.3% is about the max you will get tax free in an ISA.
 
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Cheers guys, Yeah im sure i saw something like that on tele as well and no im not that rich to have more than 30k lol. Think i might transfer to halifax tho. get a bit more money out of them ;)
 
You do realise that if you have £5000 in your Isa now

4.4% int gives you £220 a year
5.0% int gives you £250 a year

Assuming you don't touch it and the £5000 is in there the whole year.....

So is it worth the hassle of changing for just £30 difference a year (if you have less than £5000 - why even bother with changing )

Banks / BS with good paying ISAs rarely stay at the top of the list tables (so even if you intend putting £3000 a year in) its unlikely the rate will be stay best (meaning you have to move it again)
 
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Another thing just want to add:

iirc, banks will not give you the tax for a duration if you leave after 6 months. ie if you change in nov, you don't earn apr-nov interest.I think it should be ok to switch now as we are only 1 month into the tax year.

Divosuk: £30 is a lot for a student! That's a nice and shiny gaming mouse, kb or game.
 
yup £30 i think is worth it as i am a student, more like food for the whole year lol, plus i have more than 6k in my isa so all is worth it especially in these days and times if your are hoping to put a downpayment on a house or something!!
 
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