ISA

8
Posted 26th Apr
Interest rates seem to be low everywhere at the moment but does anyone know the best rate ISA about at the moment? My current ISA is offering me 0.60%.

Thanks.
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Post office are offering 1 year fix at 1.30% & a 2 year fix at 1.35% at the moment .
postoffice.co.uk/sav…isa
Thought there was some still game gossip to be had here. carry on
Alternative is a stocks and shares ISA. Potentially (much) higher returns. Otherwise nationwide have a 5% offer on, other banks might have something similar

Freetrade has an isa for £3 a month. Currently free to buy and sell shares too.
Superb platform imo
It depends on how much you have and the tax you would pay if you put it in a standard savings account.
Ford Money are offering 1 year fixed ISA 1.25 %
I have ISA with them and they are good.
But savings account offer 1.45%
I was very lucky last year and stumbled on Kent Reliance offering 1.9% fixed for 2 years.
It allows adding in second year also.
So when my others payout in a few months will add them together.
If you want to keep so ready cash get a Marcus account 1.2% easy acce
Edited by: "bigwheels" 26th Apr
If going for a variable rate, check to see if the provider has lowered their rate since the Bank of England reduced base rate. Any providers that haven't yet lowered their rate, may well do so in the next few weeks or months.

If going for a fixed rate, bear in mind there could be penalties for withdrawing any cash you need access to before the term finishes.

A stocks and shares ISA should easily offer a better return than a cash ISA over the long term, but you need to be able to leave the money invested for at least 5 years to insulate yourself from stock market volatility.

Have you looked at Lifetime ISA's? These offer a 25% bonus payable by the government, which easily trumps anything offered by normal cash ISA's. Note of caution though, these aren't suitable for everyone. Especially if you're not under 40 years old, and there are also big penalties for early withdrawal.

Other options are to pay some or all of the money into a pension for tax efficiency, or pay down debts such as a mortgage.

This is not advice, just suggestions. There are pro's and con's to all of the above.
Thanks everyone for all the very helpful information. 😃
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