Renewing ISA

Guest2

Guest2

Guest2

Soldato
Joined
6 May 2009
Posts
20,368
My ISA has matured and I need to either re-invest it or do something else with it. It was a Nationwide 3.25% one, if I leave it it will go into another standard ISA at 0.25% It is an 'Instant Access ISA (Mat)'

What other ISAs have a good rate of interest with Nationwide or other banks? I also have a 'Flexclusive ISA' that I took out with Nationwide when they were doing a promotion. The interest rate on this one is 4.25%
 
Are there any ISAs that you can lock down for more than a year? I think it's naughty of the banks that they make you change yearly due to 0.25%. Alliance & Leicester were good in this respect, as I had their high-% ISA for years, then they fell into the same pit as the other banks when Santander took over.
 
http://www.savingschampion.co.uk/best-buys/

Best site I have found for keeping up to date with latest deals.

The coventry mentioned above doesn't accept transfers in so depending how much you have it may not suit.

This ****** cheap money the BOE is lending to banks is killing rates. You can literally watch the rates drop as banks hit the top of the table they then almost immediately slash rates, why pay savers 2%+ when they can borrow from the BOE for 0.5%.

Yet again the financially prudent are picking up the pain for the financially imprudent.
 
Mr-White said:
Turns out I have an e-ISA at 1.74%, that site recommends M&S at 2.75%

MW
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Its a joke. I forgot and one of my accounts went into the minus that doesn't have an overdraft, so I was charged £25. That's about as much interest as I earn a year!

I might just go to the casino with £20 and quit when i'm £40 ahead. That works out better
 
I lend my brother money for his car insurance and stuff and he pays me 4% interest :p.

My ISA is with Halifax for 2 years @ 3.5% i think. Wish I had put it away for 5 years at 5% a few years back now as they're dropping all the time.
 
Guest2 said:
Its a joke. I forgot and one of my accounts went into the minus that doesn't have an overdraft, so I was charged £25. That's about as much interest as I earn a year!
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I've looked into mine further and my interest rate changes.

@ £9000 = 2.1%
@ £15000 = 2.75%

The increase in rate is enough to motivate you to save, I should have enough to reach £15k by the summer :)

MW
 
A stocks and shares ISA can deliver better returns, though obviously there's more risk than a cash ISA. I'm showing a 5.2% gain on my S&S ISA over the past 10 months.
 
I am currently getting 3.6% with my lloyds tsb 2 year fixed rate isa. This ends in march so am hoping i can get something similar.

I must be in a minority of people that wishes interest rates were higher.
 
the1gooner said:
I am currently getting 3.6% with my lloyds tsb 2 year fixed rate isa. This ends in march so am hoping i can get something similar.

I must be in a minority of people that wishes interest rates were higher.
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No quite a few in fact depend on interest rates being a bit higher, a lot of pensioners are suffering cos of low rates.

But, those who borrowed too much will fail without rediculously low rates and as such the savers need to help fund them. Without low rates we would see much higher reposessions, industry struggling etc so whilst its some pain its helping to avoid another burn out, its too late to look at an alternate strategy. Too late to change course now, we have to see the low rates thing take its time.

Rates shouldn't have been dropped as much as they were when they were, and allowed a proper correction to happen, but labour were desperate to hold on to power so did the rates thing in the hope of kicking the can far enough down the road that they would win the election.
 
I was just looking into ISA's this morning and came across some advice (from a few years ago) saying that around Feb-Mar would be a good time to open one as the banks compete with their rates to catch the last minute rush of people using up their allowance.

Sounds plausible, so I thought I would wait and see.
 
robskinner said:
No quite a few in fact depend on interest rates being a bit higher, a lot of pensioners are suffering cos of low rates.

But, those who borrowed too much will fail without rediculously low rates and as such the savers need to help fund them. Without low rates we would see much higher reposessions, industry struggling etc so whilst its some pain its helping to avoid another burn out, its too late to look at an alternate strategy. Too late to change course now, we have to see the low rates thing take its time.

Rates shouldn't have been dropped as much as they were when they were, and allowed a proper correction to happen, but labour were desperate to hold on to power so did the rates thing in the hope of kicking the can far enough down the road that they would win the election.
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So rates are low basically because of the stupid people that borrow too much and cannot afford to pay it back? Country debt goes up as do the amount of loan companies like loans for you, quick-quid etc etc that charge 987677% APR. hmmmm, I wonder where this debt can be coming from??!!
 
Freakbro said:
I was just looking into ISA's this morning and came across some advice (from a few years ago) saying that around Feb-Mar would be a good time to open one as the banks compete with their rates to catch the last minute rush of people using up their allowance.

Sounds plausible, so I thought I would wait and see.
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That did in fact used to be the case, and upto 2011/2012 tax year still was.

I am not certain it will be this year however.

The landscape has changed, the building societies will still be looking to attract savers funds, but the banks can borrow elsewhere a lot cheaper and hence I doubt and banks will be competing hard for savers cash. If only half the players are after the deposits the remainder will not have to compete so hard.
 
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