Cash ISA - Deadline 5th April 2018! See Below for Best Rates
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Cash ISA - Deadline 5th April 2018! See Below for Best Rates

15
Found 3rd Apr
Deadline to apply for ISA for the 2017/18 tax year is on 5th April 2018! With ISAs you can earn tax-free interest on up to £20,000 per year.The £20,000 can be used for either cash ISAs, or stocks and shares ISA, or a combination of both.

First-time buyers can save for a deposit in a Help to Buy ISA or young people can save for their first home and retirement using the Lifetime ISA.

See below for some interesting Cash ISA deals available currently. The interest is not great on cash ISAs; you can earn more with Stocks & Shares ISAs but these come with much higher risks too (capital is not protected).

1) Nationwide Cash ISAs
5 Year Fixed Bond at 2.00%
Loyalty Single Access at 1.40% (for people who have been with them for a year or more. 1 withdrawal allowed per year)
Single Access at 1.30% (1 withdrawal allowed per year)
nationwide.co.uk/pro…sas

2) Paragon Cash ISAs
Easy Access at 1.25% (£1 min; withdrawals allowed)
1 Year Fixed Bond at 1.45%
2 Year Fixed Bond at 1.67%
3 Year Fixed Bond at 1.77%
5 Year Fixed Bond at 1.95%
paragonbank.co.uk/sav…sas

3) Shawbrook Cash ISAs
Easy Access at 1.25% (min balance £1,000)
1 Year Fixed Bond at 1.35% (min balance £5,000)
2 Year Fixed Bond at 1.50% (min balance £5,000)
5 Year Fixed Bond at 1.85% (min balance £5,000)
shawbrook.co.uk/per…ts/

4) Halifax Cash ISAs
5 Year Fixed Bond at 2.25% (from £1)
(other terms available but inferior rates to other banks shown here)
halifax.co.uk/isa…ed/

5) AA Money Cash ISAs
1 Year Fixed Bond at 1.36%
2 Year Fixed Bond at 1.51%
Easy Access at 1.16% (withdrawals allowed)
theaa.com/sav…isa

6) Leeds Building Society Cash ISAs
1 Year Fixed Bond at 1.35% (min balance £100)
2 Year Fixed Bond at 1.65% (min balance £100)
3 Year Fixed Bond at 1.70% (min balance £100)
5 Year Fixed Bond at 2.00% (min balance £100)
leedsbuildingsociety.co.uk/sav…ts/

7) Skipton Cash ISAs
5 Year Fixed Bond at 2.00% (min balance £500)
(other terms available but inferior rates to other banks shown here)
skipton.co.uk/sav…sas


These refer to the Cash ISAs only. Depending on your circumstances, you could be eligible for Help to Buy ISAs or Lifetime ISAs or Junior ISAs (for your kids). These usually come at a higher interest rate but there are restrictions on when you can withdraw the funds. You can also opt to invest in Stocks & Shares ISAs but there are no return guarantees and your capital will be at risk.
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15 Comments
Shame they're still so low but thanks for the work you did posting this!
Original Poster
grievo3 m ago

Shame they're still so low but thanks for the work you did posting this! …Shame they're still so low but thanks for the work you did posting this!


Indeed they are. There were better rates earlier in the financial year, so good for those who got them at the right time. Thought I'd post this for those who haven't invested yet and are thinking of doing it. Rates aren't great but the best ones I could find right now ahead of the 5th April deadline.
ADX242 m ago

Indeed they are. There were better rates earlier in the financial year, so …Indeed they are. There were better rates earlier in the financial year, so good for those who got them at the right time. Thought I'd post this for those who haven't invested yet and are thinking of doing it. Rates aren't great but the best ones I could find right now ahead of the 5th April deadline.


‘Invested’ is a bit of strong word in this context, when you have no idea where your money is going, what the other parties are getting and what level of risk is involved. No risk isn’t a credible answer as with fixed profits there is potentially a loss when the fund doesn’t do well but so long as it’s on someone else, that’s deemed ‘ok’. Better off putting your spare cash in to your mortgage to offset interest or if you’re able to, lend it to a friend in need, without interest.
Original Poster
donslibi9 m ago

‘Invested’ is a bit of strong word in this context, when you have no idea w …‘Invested’ is a bit of strong word in this context, when you have no idea where your money is going, what the other parties are getting and what level of risk is involved. No risk isn’t a credible answer as with fixed profits there is potentially a loss when the fund doesn’t do well but so long as it’s on someone else, that’s deemed ‘ok’. Better off putting your spare cash in to your mortgage to offset interest or if you’re able to, lend it to a friend in need, without interest.


To clarify again, the rates above are for cash ISAs so the interest you get is fixed - your capital is NOT at risk. Level of risk varies if you have invested in Stocks & Shares ISAs, not Cash ISAs. It is only these types of ISAs which invest in funds, not Cash ISAs. As I mentioned in my original post, Stocks & Shares ISAs carry a higher level of risk and your capital is not protected. This is not the case with Cash ISA which is what this post is about.

You can get an offset mortgage for sure and the return will likely be better than Cash ISAs. However, this applies for people who are planning to get a mortgage; or for those who have a mortgage already and are planning to remortgage; or for those who have a variable rate mortgage. With an offset mortgage, it is more difficult to have access to the funds if you need them. With ISAs, you can have access to your funds when needed. It is also good to bear in mind that if you are on a fixed rate mortgage, you will incur penalties if you want to offset your savings during the term as offset mortgages are considered as a different contract altogether.

ISAs are not for everyone and are not the best things out there. It is helpful for some people depending on their circumstances. And there are many other non ISA options which are far better than an offset mortgage.
donslibi16 m ago

‘Invested’ is a bit of strong word in this context, when you have no idea w …‘Invested’ is a bit of strong word in this context, when you have no idea where your money is going


Invested is the wrong word to use when referring to cash ISA, saving is the correct word. These are like a savings account but with some extra rules, your money is protected in the same way as with a savings account.
Original Poster
crumpetman1 m ago

Invested is the wrong word to use when referring to cash ISA, saving is …Invested is the wrong word to use when referring to cash ISA, saving is the correct word. These are like a savings account but with some extra rules, your money is protected in the same way as with a savings account.


Agreed - they are tax free savings.
peer to peer lending to uk business is the way to go, i have a funding circle isa with estimated yearly returns of over 7%

you are taking a risk, but the worst thing that will happen is you will get the pitiful rates for cash isa's

i put 10 grand in and am very happy with the returns to far.
Edited by: "Aberdonia" 3rd Apr
Original Poster
Aberdonia2 m ago

peer to peer lending to uk business is the way to go, i have a funding …peer to peer lending to uk business is the way to go, i have a funding circle isa with estimated yearly returns of over 7%you are taking a risk, but the worst thing that will happen is you will get the pitiful rates for cash isa'si put 10 grand in and am very happy with the returns to far.


Yes of course with higher risks come higher rewards. With Stocks & Shares ISAs you get similar returns too depending on which fund you're investing in. You can get much higher returns than this as well if you invest in riskier funds. That's the basis of finance - the higher the risk the higher the reward.
ADX28 m ago

Yes of course with higher risks come higher rewards. With Stocks & Shares …Yes of course with higher risks come higher rewards. With Stocks & Shares ISAs you get similar returns too depending on which fund you're investing in. You can get much higher returns than this as well if you invest in riskier funds. That's the basis of finance - the higher the risk the higher the reward.


indeed, but these yields are still tiny, not that risky if instead of getting 7% tax free you get 3%, only thing with these peer to peer isa's you are not protected, you can lose every penny if funding circle went belly up.

However the uk governrments lending bank use Funding cirlce so i think i am safe enough as long as brexit does not totally fck up the uk economy when it happens.
Edited by: "Aberdonia" 3rd Apr
Original Poster
Aberdonia10 m ago

indeed, but these yields are still tiny, not that risky if instead of …indeed, but these yields are still tiny, not that risky if instead of getting 7% tax free you get 3%, only thing with these peer to peer isa's you are not protected, you can lose every penny if funding circle went belly up.However the uk governrments lending bank use Funding cirlce so i think i am safe enough as long as brexit does not totally fck up the uk economy when it happens.


For all investments, including peer to peer lending, your capital is at risk. You can get 7% or 3% or go into negative territory too. If you look at the history of funds over the last 10 years you will see that it is a very cyclical sector and goes into negative territory more often than people think. Some people are more risk averse and and others cannot afford to lose any part of their hard earned savings. These people will tend to have savings accounts in banks, as opposed to invest in stocks, shares or do peer to peer lending due to their risk aversion. In these cases, a cash ISA will be for them as their capital is protected - they will never be in negative territory in absolute terms and they are getting a small increment on which they do not have any taxes to pay.
Just put it all into Bitcoin or the Grand Nationals second favourite on the nose.
It’s not like an extra 2% tax free is going to stave off financial ruin while inflation out paces savings.
The Nationwide Loyalty Single Access Cash ISA and Single Access Cash ISA are not fixed rates. They are variable.
Aberdonia1 h, 52 m ago

indeed, but these yields are still tiny, not that risky if instead of …indeed, but these yields are still tiny, not that risky if instead of getting 7% tax free you get 3%, only thing with these peer to peer isa's you are not protected, you can lose every penny if funding circle went belly up.However the uk governrments lending bank use Funding cirlce so i think i am safe enough as long as brexit does not totally fck up the uk economy when it happens.


It's also not open to new investors yet so can't really be classed at a deal irrespective of the risks.
Original Poster
annapinkcat01 h, 26 m ago

The Nationwide Loyalty Single Access Cash ISA and Single Access Cash ISA …The Nationwide Loyalty Single Access Cash ISA and Single Access Cash ISA are not fixed rates. They are variable.


That's right. Variable rates are usually linked to libor. That's very unlikely to go down so should be ok hopefully. The rate can go slightly up or down but there will always be an interest payable, so no inherent risk to capital and never in negative territory in absolute terms.
ADX23 h, 41 m ago

To clarify again, the rates above are for cash ISAs so the interest you …To clarify again, the rates above are for cash ISAs so the interest you get is fixed - your capital is NOT at risk. Level of risk varies if you have invested in Stocks & Shares ISAs, not Cash ISAs. It is only these types of ISAs which invest in funds, not Cash ISAs. As I mentioned in my original post, Stocks & Shares ISAs carry a higher level of risk and your capital is not protected. This is not the case with Cash ISA which is what this post is about.You can get an offset mortgage for sure and the return will likely be better than Cash ISAs. However, this applies for people who are planning to get a mortgage; or for those who have a mortgage already and are planning to remortgage; or for those who have a variable rate mortgage. With an offset mortgage, it is more difficult to have access to the funds if you need them. With ISAs, you can have access to your funds when needed. It is also good to bear in mind that if you are on a fixed rate mortgage, you will incur penalties if you want to offset your savings during the term as offset mortgages are considered as a different contract altogether. ISAs are not for everyone and are not the best things out there. It is helpful for some people depending on their circumstances. And there are many other non ISA options which are far better than an offset mortgage.


You may wish to re-read my post...
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