where are you putting your ISA?

Soldato
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april is approaching and i've decided to change from barclays ie actually do something to get myself a better rate

a poster on here kindly directed me to lloyds who are currently offering 3.7% fixed for 2 years on anything over £10k or 3.4% on anything under £10k on the same terms.

the best barclays could offer me was 3.05% so it does look attractive, i'm only holding back on my decision as i'm not 100% sure about the 2 year term.

would be grateful if other savers would tell me what they're doing?
 
Man of Honour
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17 Oct 2002
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Santander at 3.3% - none of this 'fixed' rubbish, easy access and it accepts Transfers In. Cannot see a better deal - locking your money away for 2 years for a paltry extra 0.5% is not worth it.
 
Soldato
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[TW]Fox;21477405 said:
Santander at 3.3% - none of this 'fixed' rubbish, easy access and it accepts Transfers In. Cannot see a better deal - locking your money away for 2 years for a paltry extra 0.5% is not worth it.

by easy access do you mean instant access? more info please, what's the max one can put in?
 
Soldato
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[TW]Fox;21477405 said:
Cannot see a better deal - locking your money away for 2 years for a paltry extra 0.5% is not worth it.

I agree with this. Things are too volatile for it to be worth it.
 
Soldato
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Yes. So you check those two sites and identify the best looking ISAs, then check their terms/check the sites, then put your money in the one you want. It really is very simple.

if it was simple, sites like that wouldn't exist

ha got you before your edit
 
Associate
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I'm with Aldermore - seemed to have the best 1 year rate at the time with easy internet access.
 
Soldato
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Arrr this is something else I need to sort out! Need to transfer my money from Halifax to somewhere... the Santander 3.3% one looks good.
 
Soldato
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But it is simple, now the sites exist. With those tools available, it's simple.

What I originally said was true (the yes, to your statement), but the edit added relevant info ;).

but they say no transfer out penalty and then you say the penalty is losing the 3%?
 
Associate
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I just went for the Santander Direct Access (as above) this morning, filled in the application online and my account was open 10 minutes later.

Scary.
 

SMN

SMN

Associate
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Call me ignorant, but unless you have the likes of £20,000+ isnt using an ISA that can potentially limit your cashflow all for a 3% return a bit... silly? For example 3% interest on £30000 is £900 by my maths, but if you have to run the risk isnt it a very low risk/reward ratio?
 
Associate
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Santander is doing a fixed 2 yr 4.00% ISA - that's what I'm going for ( oh, and hoping Rory McIlroy wins a major for an extra 0.10% lol ).
 
Associate
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Wat? There's no risk :confused:.

Obviously there are ways of getting a higher return, but that's when risk comes in. Also, if you're putting money into ISAs now, expanding your pool of tax free savings every year, you'll be in a decent position if/when interest rates finally go up.

Agree with this totally. I know it's not possible for many people, but the aim is to try and expand your ISA pot as much as possible without ever tapping into that reserve. After several years the returns are very noticebale, particularly if interest rates do return to previous levels.
 
Soldato
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I appreciate that ISAs are useful if you are looking for tax free savings, but if you aren't worried about tax (as in, your income is too low) are there better places to put a lump sum in for saving? Or is it best to just keep putting the maximum into an ISA each year?

I'm terribly ignorant about savings, but need to fix that.
 
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