ALi-B

iTrader: (1)

Its that time again where we have to mess around with Brown's hairbrained legacy again: My current 2yr fixed rate ISA matures end of this month and it'll transfer to a cash ISA with a whopping 1% interest

So obviously it'll need transferring to a better ISA that'll accept transfers.

Anyone seen any good rates out there?

Best I've seen so far is 3.7% 2yr fixed with Lloyds (for over £10K). and 4.5% with Halifax for 5yrs.

jonc

Cash ISA's are a waste of time. I have stocks and shares ISA and it's currently returning 18%. I use Interactive Invester (iii.co.uk)

andys

M&S have a good instant access opne at 3.0% that will take tranfers

douglasb

The M&S one takes transfers but access is only by phone or in writing.

The best instant access with online access that I've found is Virgin Money (ex Northern Rock) at 2.85%. This doesn't include any "12 month introductory rate" either but is a "clean" 2.85%.

However, I'd also be interested in finding any better offers.

andys

Yes should have ponited that out but them I am quite old fashioned and can live with out having to go on line for everythnig

douglasb

Santander have now introduced an instant access cash ISA giving 3.3%. There is a 12 month bonus rate of 2.8% so you need to move the money at the start of the 2013/14 tax year.

Beastie

iTrader: (2)

There is this one from Halifax for 4.5%

http://www.halifax.co.uk/savings/acc...sa-saver-fixed

Lee247

ING have some canny deals at the mo'. Plus, I had a regular savings account with them, which offered a "slightly" higher rate. When it was due to expire, they sent me an email offering higher rate accounts/ISAs to move it too.

paulr

Can you give me a quick run down of how this works. Thanks.

jonc

Quote:

Originally Posted by paulr

Can you give me a quick run down of how this works. Thanks.

There are generally two types of ISAs; Cash ISA which are safe where the provider pays you a fixed rate of interest for your investment; stocks and shares ISA where your money goes to buy bonds, shares in specific companies and a broad range of shares of companies based on geographical locations or industry sectors wrapped up funds.

With stocks and shares ISAs you can invest up to £11280 (2012/2013) completely tax free. You can invest your ISA allowance directly in shares if you know what you are doing, and/or the "safer" lower maintenance option of buying funds that spreads the risk when investing in the stock market. There are thousands of different kinds of funds that are provided by hundreds of different providers that carry varying degrees of risks, ie, higher risks potentially gives higher gains, lower risks giving lower gains. What you choose will depend on your strategy. If you looking for long term investment, say 10 years or more, you can afford to choose riskier funds since the risks are generally levelled out over the years. For short term you'd look at lower risks to ensure you at least get a return so you invest in bonds., cash or gilts funds. Idealy you should look to have a portfolio of different types of funds of varying degrees of risk based on your investment strategy.

I for example have 4 funds made up of 75% in UK and emerging markets equity funds and 25% in gilt funds. It's fairly risky portfolio but I am investing long term. www.iii.co.uk is a good start for information as is sites like moneywise.co.uk and various funds supermarket sites for fund information and their ratings.

If you are unsure then I would advise you speak to a financial adviser.

paulr

Okay thanks. I have loads in a cash ISa, but the rates are so poor. I'm thinking of a S/S Isa.