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delboypass

Best Mini Cash Isa?

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Guest Guy_Montag

it's one of those regular savers ones (no more than £250 a month). Fine if that's how you want to save, but if you have a 3k lump sum, I believe (though I've not done the sums) that Alliance & Leicester @ 5.20% is currently the best instant access. Nice 'cause when you lose the .7% bonus at the end of the first year, you can shift it all into the next best account.

You can move any other ISA money into it too. :)

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I've just seen the Portman 8% thing. It would be best to go for that at 12x£250 and then put the lump sum in a normal savings account like ICICI.

Sums:

Lump sum:

4.9% - £147 (Portman)

5.2% - £156 (A&L)

Reg Saver:

8% - 120 (Portman) PLUS

5.15% - £77.25 (Taxable) (20% tax: £61.8)

Total: £181.80

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I've just seen the Portman 8% thing. It would be best to go for that at 12x£250 and then put the lump sum in a normal savings account like ICICI.

Sums:

Lump sum:

4.9% - £147 (Portman)

5.2% - £156 (A&L)

Reg Saver:

8% - 120 (Portman) PLUS

5.15% - £77.25 (Taxable) (20% tax: £61.8)

Total: £181.80

Transfer out penalty: 30 quid. This wipes out any gains made over direct deposit into the AL&L account @ 5.2%

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Transfer out penalty: 30 quid. This wipes out any gains made over direct deposit into the AL&L account @ 5.2%

Ok, fair point. But will A&L offer a reasonable interest rate in a years time? I have found Portman to be reasonable with their ISA rates. Fixed terms are currently 4.75%.

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even so - transfer your ISA out in a years time

I currently have one in HBOS. might transfer that out to A&L as well.

screwed if rates go up so hopefully they would increase interestrates on the account. (am i dreaming :lol: !!)

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even so - transfer your ISA out in a years time

I currently have one in HBOS. might transfer that out to A&L as well.

screwed if rates go up so hopefully they would increase interestrates on the account. (am i dreaming :lol: !!)

Delboy, exactly. I'm with A+L, and have no intention of touching my ISA. If the rate changes for the worse and there is a better deal, then I will simply move it out.

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cant setup 2 cash ISAs in the same year.....

Year 1 - £3000 halifax

Year 2 - £3000 A&L

But can i transfer say £2999 from halifax to A&L

and then if halifax interest beats A&L, transfer back the £5999

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Anyone know where the best saving rate for a mini cash ISA is??

Ive seen this one but i dont believe it!!

Portman 8%

Any others??

Have a halifax one from last year i think at 5%

National savings have one at 5.05, guaranteed to be .55% over the base rate until April 08 (2 years). Seems to be the best longish term offer at the moment.

http://www.nsandi.com/products/disa/index.jsp

Edit to add no transfers in though :(

Have a halifax one from last year i think at 5%

The Halifax have dropped the rate recently to 4.75%.

Edited by erd

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The one I just opened is with Bradford and Bingley (the nice old gents with the bowler hats) They're offering 5.10% fixed for a year. Which seems reasonable.

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I went for A&L (5.2%) this Jan. The reasons being they allowed transfers in, and I dont think theres an early withdrawal penalty.

Halifax were paying 5% at the time (and thats not a bonus rate)

Edit: Just seen B&B are paying 5.1% on mini cash ISA's and the rate is fixed for a year - sounds like it might be a good bet, seeing as A&L do tend to have great introductory rates, but 6months later they slash them.

Edited by Pete95

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Is it a good idea to avoid Building Society ISA's.

With the onset of the crash won't they be hurt most by mortgage defaults and have to claw money back from other sources.

Maybe the likes of Halifax, A&L etc can only offer the good rates "While the sun still shines", Would it be better to look for and ISA's and other investment with companies that will be less sensitive to the HPC.

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Gone with B&B (5.1%) again after a decent service last year.

Seriously considering never giving A&L any custom again. Their constant rate cutting starts to become a hassle :angry:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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