delboypass Posted April 7, 2006 Share Posted April 7, 2006 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% Quote Link to comment Share on other sites More sharing options...
Guest Guy_Montag Posted April 7, 2006 Share Posted April 7, 2006 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. Quote Link to comment Share on other sites More sharing options...
delboypass Posted April 7, 2006 Author Share Posted April 7, 2006 can anyone beat alliance and leicester at 5.2% ?? Quote Link to comment Share on other sites More sharing options...
Jason Posted April 7, 2006 Share Posted April 7, 2006 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 Quote Link to comment Share on other sites More sharing options...
AvidFan Posted April 9, 2006 Share Posted April 9, 2006 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% Quote Link to comment Share on other sites More sharing options...
Jason Posted April 10, 2006 Share Posted April 10, 2006 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%. Quote Link to comment Share on other sites More sharing options...
delboypass Posted April 11, 2006 Author Share Posted April 11, 2006 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 !!) Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted April 11, 2006 Share Posted April 11, 2006 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 !!) 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. Quote Link to comment Share on other sites More sharing options...
delboypass Posted April 11, 2006 Author Share Posted April 11, 2006 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 Quote Link to comment Share on other sites More sharing options...
erd Posted April 11, 2006 Share Posted April 11, 2006 (edited) 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 April 11, 2006 by erd Quote Link to comment Share on other sites More sharing options...
Gbob Posted April 12, 2006 Share Posted April 12, 2006 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. Quote Link to comment Share on other sites More sharing options...
Pete95 Posted April 14, 2006 Share Posted April 14, 2006 (edited) 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 April 14, 2006 by Pete95 Quote Link to comment Share on other sites More sharing options...
sithclone7 Posted April 17, 2006 Share Posted April 17, 2006 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. Quote Link to comment Share on other sites More sharing options...
Libertine Posted April 18, 2006 Share Posted April 18, 2006 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: Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.