Top Cash ISAs Discussion Area

[MSE Dan]

This thread is specifically to discuss the the

Top Mini Cash ISAs article

Which includes the new free ISA Savings Calculator tool.


To discuss or ask a question about this article: click reply

[JohalaReewi]

A few in this thread...
http://forums.moneysavingexpert.com/...ad.html?t=2480

[Special_Saver2]

Well, you should definitely check out Kazza's thread here. Between that thread and Martin's article on the main site (both of which are regularly updated), they should provide you with all the info you need.

[COCO]

Sorry if this is the wrong area to ask this question, but do i need to change my ISA provider from Barclays Tax Beater to some other provider?
Mark.:rolleyes:

[greengrass]

Hi Guys,
Can anybody suggest the best fixed isa, I have 1000 to invest and want to leave it there for at least 5-6 years.

[KTF]

Originally Posted by greengrass

Hi Guys,
Can anybody suggest the best fixed isa, I have 1000 to invest and want to leave it there for at least 5-6 years.

Look here: http://forums.moneysavingexpert.com/....html?t=401374

[greengrass]

thankyou for that, I have just looked and the leeds sounds the best with their 3 year fixed rate, would you suggest a fixed rate or do you think I am better going for variable?

[KTF]

Depends what you think interest rates are going to do. Many feel that they have pretty much peaked now and may go down further in future. In that case you may be better off grabbing a fix now. If you feel that rates may rise again then you might be better off with a variable one.

[greengrass]

Thank you for that advice, I will keep looking.

[macvaio]

Started a New Thread instead...

[WizardOfAuz]

Hi there,

I just wanted to clarify something which I could never get my head around. So just to clarify you are allowed to have up to �3000 in a mini cash ISA per year. I currently have the maximum amount with ING Direct which has a high interest rate for 6 months which will bring me into the new financial year.

My question is; when you transfer your money - you are not closing your account and thus can transfer from bank to bank throughout the year (presuming no fees) without affecting your yearly limit and ensuring you are getting the best return?

Hope that makes sense!?

Many thanks,

Dave

[Lavendyr]

Originally Posted by WizardOfAuz

So just to clarify you are allowed to have up to �3000 in a mini cash ISA per year.

Correct, essentially. This rises to �3600 per year from April. However, to be clear, you can have as much money in an ISA as you like - but you can only put in a limited amount each year.

Originally Posted by WizardOfAuz

My question is; when you transfer your money - you are not closing your account and thus can transfer from bank to bank throughout the year (presuming no fees) without affecting your yearly limit and ensuring you are getting the best return?

Correct, though some ISA managers may penalise you for doing so (e.g. 30 days interest). Just don't outright withdraw it - make sure you follow correct procedure and transfer the funds. Also, not all ISAs permit transfers in, so check that first.

By the way, forum signatures should not include links as per the Forum rules so I'd suggest you change it. Welcome

[WizardOfAuz]

Thanks for that clarification Lavendyr - also thanks for the heads up re Signature all changed now.

Great to hear that the allowance is increasing next year!

Thanks again for the help and see you around!

Dave

[SHAKEY]

Sorry to post slightly out of line with this thread - just wondered i9f anyine can answer quick couple of Q's?
The new top ISA, Ice, - I'm looking to open an ISA but havn't quite grasped it yet! can i deposit 3k in there and keep adding to it in the year or is it a fixed 3k?
Also, is my money safe!?

Really appreciate any help

Cheers,
Shakey

[KTF]

You can put up to 3k in 1 cash ISA per tax year*. This can be 3k in one lump sum or smaller amounts up to 3k total.

Your money will be as safe as any other bank.

* 3600 from April 2008.

[sunnyflower]

A question from me now!We have got a bond that matures soon, be about �3500.Then I have a savings plan that finishes in April, be about the same.We really don't want to touch it.Am I right in thinking that you are only allowed one ISA each?So would it be best to put the surplus in an ordinary savings account?

[KTF]

Yes you can only have 1 ISA per individual for each tax year so use your full allowance then put the remainder in a savings account.

You mentioned 'we' so you could open an ISA in your name and your partner could do the same so the bond could go in one and the savings plan in the other.

[sunnyflower]

Originally Posted by KTF

Yes you can only have 1 ISA per individual for each tax year so use your full allowance then put the remainder in a savings account.

You mentioned 'we' so you could open an ISA in your name and your partner could do the same so the bond could go in one and the savings plan in the other.

My thanks button doesn't appear to be working, so thanks!!!!!!!

[acrobat]

apologies if question stupid

took out our first cash isa using the 3k limit but didnt take it out till may 07. going to take out another one before april 6th so as the first one in my name will do the second in hubby's... think this is right thing to do?
just wondered though, how does the interest get paid? i understand its yearly but is that to april or the month you took out the isa. also can the interest stay in the isa or not??
hope this makes sense, and thanks in advance :confused:

[Takeem]

Hi,

I basically have �5000 that I want to put in some sort of interest account. From what I understand I can only put �3000 into an ISA, is this correct. So, when I used the ISA calculator I put in �3000.00 for the amount i already have and then it asks how much you are going to be able to save a month, I just put 0. and then for the interest rate I put 6.1% (icesave). This comes out at �3183.00 meaning I make �183.00 on my �3000 for 1 year . Thats great, but then I decided that I can save �50.00 a month from my wages and I put that in the box I had origonally put 0 and it came out at �3802.65, thats fantastic i thought but if I have reached my �3000 surely thats my limit? Also is there a faster way to make my money grow

Some help please, whats best for me to do. Roulett all on red prehaps :confused: