ISAs

The Mad Rapper

The Mad Rapper

The Mad Rapper

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18 Oct 2002
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It's that time again - we've invested the maximum in stocks and shares ISAs for this tax year, we want to invest the maximum in cash now, and again in April.

What is the cash ISA 'Best Buy' at the moment? I want to avoid anything with an introductory rate.
 
There are a lot of good "headline" rates available - but read the small print.
Santander and Alliance & Leicster are both offering 2.75% - but that's only on balances of £9k+, under than and it drops to 2%
ING Direct are doing a 2.5% - Guaranteed for 12 months, so you could have course move it in a years time if the rates go down.

Investment and long-term ISA's offer better rates.
Barclays will give you 4% but that's with a minimum 1st investment of £3600 and as long as you don't touch your cash for 5 years.
 
Thanks for the replies lads.

The NW offer 4.6% but it can't be touched for 3 years. I would prefer to go for a good fixed rate rather than an introductory. What's your views on fixed rate ISAs?
 
Well you know where you are with fixed rate.
Interest rates really aren't going to do much for the next 12-24 months (my opinion - please don't accept as full financial advice).
So if you can get a good fixed rate for 12-24 months it might be worthwhile.
 
IF are offering 2.5% instant access, no funny bonus 12 month rules. All depends if you need to get your hands on the money any time soon.
 
I'm looking at the M&S one, 4.0 over 3 years, allows transfers also.

can't believe looking at my account that in 2008 I was getting about £50-60 interest a month now its down to £8:(
 
If you've actually invested the maximum in a Stocks and Shares ISA already, you may have used up your cash subscription for this year already.

You can invest a maximum of £7,200 total between a Cash ISA and a Stocks and Shares ISA, with a maximum of £3,600 Cash making up that total. So if you already have £7,200 in a SaS ISA, then you cant open a seperate Cash ISA for 09/10.
 
Interest rates are so low, I certainly wouldn't invest at all if I owed anything on my mortgage or cards, or anywhere else.

With surplus money I think you'd do better on buying Euros. But then again thats a (taxable) gamble!
 
Chaos said:
Was thinking of going with this to, think you can get your money out for a £100 fee if you really need it.
Click to expand...

And the people that do the admin are really nice as I used to work with them :)

britboy4321 said:
Interest rates are so low, I certainly wouldn't invest at all if I owed anything on my mortgage or cards, or anywhere else.

With surplus money I think you'd do better on buying Euros. But then again thats a (taxable) gamble!
Click to expand...

Slightly different with an ISA though if you are intending to invest the full amount every year. By not doing it you effectively lose that years allowance.
 
Sorry to several of you, I didn't make my position sufficiently clear. We've invested the maximum for the S&S component that we could, while still leaving us free to invest the maximum in cash.
 
HaMMuS said:
Can I ask why you invested in the S&S ISA rather than the cash ones? Aren't they more risky?
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Greater the risk, the greater the potential return. And to be honest as a long term investment most unit trusts for example are not actually all that risky as long as you do not have to sell during a downturn.
 
Im assuming next years cash ISA allowance is going to be the same limit?

When does the next ISA year start? 1st of April? (Stupid question)
 
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