ING ISA: 6.55%AER for 6 months, 6% after - best most flexible ISA out there
34°Expired

ING ISA: 6.55%AER for 6 months, 6% after - best most flexible ISA out there

18
Found 10th May 2007
Prior to the April 5th cycle, I had done loads of research on ISA accounts. Did a comparison from most of the major ISA providers in the UK and my opinion is that the ING ISA offered is the best.

Not only does it provide one of the highest (if not the highest) rates in industry, but you have the added advantage that interest is credited MONTHLY and calculated daily. If you withdraw money, you do not lose the interest for the month.

Most other providers may offer competitive rates, maybe even slightly higher rates, but don't credit you until the end of the year, which is useless.

So act now, you can be earning 6.55% for the next 6 months TAX FREE.

Have been with ING for about 1.5 years now, absolutely love them. Recommend them hands down.

You can open an ISA with as little as £1.

Feel free to post if you think there's a better deal, and I'll more than likely point out the flaws in it

14 Comments

glad you're happy with ING - when it comes to savings account rather than ISA, they are shocking!! never pass on to the customer the potential increase - currently 4.75% compared to citibank 5.55%, and many others with monthly interest. Wish I hadn't got my savings in with them, should have got on with moving the money away from them. :-(

Glad you're happy with their ISA.....

The Bank of England have just put the base rate up, it would be best to wait and see which suppliers put their ISA rates up in line with this before deciding on an ISA.

Also, your headline is misleading "6.5% for first 6 months, 6% after" - in fact it's 6.5% for the first 6 months, and then 5.13% after - making an average over the year (AER) of 6.0% (due to compounding.)

5.13% is rubbish!!! You'd have to move your money out to a better ISA after the first 6 months.

I'm with Alliance & Leicester which seemed the best at the time at 8.1%.

[COLOR=black][FONT=Arial][COLOR=black][FONT=Arial]My top pick is[COLOR=red][FONT=Arial]][COLOR=#22229C]Barclays' [/COLOR][COLOR=#22229C]Tax Beater Cash ISA[/COLOR][/FONT][/COLOR] which allows instant access to your cash and pays 6.5% provided you've at least £1 with it. This account has a 'bonus interest rate' for the first year which means the rate drops to 5.5% after 12 months.

From moneysavingforums

[/FONT][/COLOR][/FONT][/COLOR]

i agree with nrps1 that the Barclays' Tax Beater Cash ISA is a better deal. it also pay interest monthly.

but i shall wait a while to for the banks to respond today's BOE interest rise to 5.5%.

]http//ne…stm

Original Poster

castle

glad you're happy with ING - when it comes to savings account rather than … glad you're happy with ING - when it comes to savings account rather than ISA, they are shocking!! never pass on to the customer the potential increase - currently 4.75% compared to citibank 5.55%, and many others with monthly interest. Wish I hadn't got my savings in with them, should have got on with moving the money away from them. :-( Glad you're happy with their ISA.....



ahh, you should get their web saver account. its not on their homepage, only available to existing customers. go to add new account and add it, it takes 5 minutes.

Current AER: 5.50%.

chamelion

ahh, you should get their web saver account. its not on their homepage, … ahh, you should get their web saver account. its not on their homepage, only available to existing customers. go to add new account and add it, it takes 5 minutes.Current AER: 5.50%.



NO. SADLY THEY WITHDREW THIS WEBSAVER ACCOUNT TWO WEEKS AGO AND DROPPED THE RATE. I DON'T BELIEVE THIS FINANCIAL INSTITUTION IS REALLY INTERESTED IN THEIR SAVERS.:x

Having just been checking savings rates out myself there is one that doesn't seem to get a mention in Moneyfacts or similar. For anyone with children, getting the child benefit, the Coventry BS offer a pair of linked savings accounts, paying 5.75% (1% first year bonus) on the no notice, no penalty for withdrawal Family 1st Saver and 7.25% on the linked account for child benefit. The only stipulation is that you need to have the child benefit paid in to the one account. You can get at it whenever you want so it's not a problem. The interest rate drops if for any reason you stop having the child benefit credited to the account.

Got money in their 6 month fixed rate saver paying 5.91%
I agree about ING not passing on rises to their customers but they did come out with the Web Saver and this fixed rate one which were the best around at the time.
I reckoned on 1 maybe 2 rises during the period of my fixed rate a/c which ends in August.
As for the Web Saver you can withdraw without penalties.
It's all a question of timing with savings and best not to tie your money up for too long in the current financial climate:)

Icesaver.com will give you a better deal with an ordinary internet savings account with over £250 in the account . Remember with the ISA the companies are going to charge you so your taxfree will go in their pockets

poppy10

The Bank of England have just put the base rate up, it would be best to … The Bank of England have just put the base rate up, it would be best to wait and see which suppliers put their ISA rates up in line with this before deciding on an ISA.Also, your headline is misleading "6.5% for first 6 months, 6% after" - in fact it's 6.5% for the first 6 months, and then 5.13% after - making an average over the year (AER) of 6.0% (due to compounding.)5.13% is rubbish!!! You'd have to move your money out to a better ISA after the first 6 months.



You cant do that, only one cash ISA in any given tax year im afraid.

gobofraggle

I'm afraid you're wrong to say that, 'knowledge'... ahem... Poppy said … I'm afraid you're wrong to say that, 'knowledge'... ahem... Poppy said you'd have to move your money to a new ISA, not that you'd have to put more money into a new one. You can transfer money between ISAs because it is the same £3000 allowance(+ interest). The new account provider arranges the transfer.



Yes but 99% of people would expect that by moving the money you would physically take the money out and open a new one. If the money is withdrawn you cant then take it to another provider and open another.

My point was that you cant just do a cash isa whenever you feel like it, there are limits.

You're free to transfer your ISA to any other provider as many times as you like, you just can't open more than one ISA or pay into more than one ISA within any single year.

poppy10

You're free to transfer your ISA to any other provider as many times as … You're free to transfer your ISA to any other provider as many times as you like, you just can't open more than one ISA or pay into more than one ISA within any single year.



I have closed my ING Accounts, they started off well, all open and honest, fair rates, recently they have poor rates, hidden web accounts etc.

Headline ISA Rates, that fall after 6 months...no thanks.
Post a comment
Avatar
@
    Text