Isa isa!

[carnut]

New Fiscal year so check you ISA %...mine just came in for last year @ 0.56%.. Barclays


Go check yours now and SWITCH

 

[christopherwk]

Is that the Golden ISA? I saw a personal banker the other day, and I was told the interest rate will stay as it is for the next couple of months, but I opened another ISA with Barclays anyway (Golden ISA Issue 2), but left the original Golden ISA as it is, otherwise transferring the money in that to Issue 2 will count towards the £5,100 allowance.

Well, if it is 0.56%, I'll have to go and switch.

 

[crockers]

Is that the Golden ISA? I saw a personal banker the other day, and I was told the interest rate will stay as it is for the next couple of months, but I opened another ISA with Barclays anyway (Golden ISA Issue 2), but left the original Golden ISA as it is, otherwise transferring the money in that to Issue 2 will count towards the £5,100 allowance.

Well, if it is 0.56%, I'll have to go and switch.

You were told transferring an ISA into this years ISA counted as new contributions? Never heard such B*ll*x ......

 

[HowardD]

This is a good time to switch when the ISA providers are competing for cash inflows.

Santander / A&L are doing an instant access one for 3.2%. £1 min.

Coventry are doing a one year at 3.25%. £5,100 min, or a 2 year at 3.5%

 

[stevesey]

You were told transferring an ISA into this years ISA counted as new contributions? Never heard such B*ll*x ......

It would if you were transferring into this years ISA - however if you were transfering last years ISA into the lastest product (but still as last years ISA) - that's a different matter.

I've just checked and Golden ISA 2 doesn't allow transfers in - so infact your personal banker is correct in relation to moving you money into a Golden ISA 2 (at first - like crockers - I did think you were using rhyming slang!)

 

[Thmsshaun]

As a thought for an ISA, but with a little more risk and for longer term savings, RBS are offering a 10 year bond paying 5.1% RB51

It does need to be purchased through a stockbroker in the same way as shares.

Markets from RBS - UK

 

[NormanC]

As a thought for an ISA, but with a little more risk and for longer term savings, RBS are offering a 10 year bond paying 5.1% RB51

Only 5.1% Gross for tying up your money for 10 years??? What do you think will happen to general interest rates during those 10 years?

I'll stick to 3.2% Nett as a minimum and guaranteed to be 2.7% above bank rate with instant access, thanks.

 

[Roger Jones]

There are plenty of solid companies offering dividends well in excess of cash ISA interest rates.

 

[WLeg]

any examples ?

 

[wemorgan]

AXA Corporate Bond 6.6%

AXA Sterling Corporate Bond Accumulation | prices, charges & savings

 

[carnut]

AXA Corporate Bond 6.6%

AXA Sterling Corporate Bond Accumulation | prices, charges & savings

Please see the charges, and that the 6.6% is not guaranteed

The point about an ISA is that its tax free on the interest...you must however check out the actaul interest against the normal taxable net amount you might get outside an ISA.

Each years ISA adds up after a few years to a tidy sum with tax free income...however switching ISAs is the name of the game as is any savings rates..be a rate whore!

The Banks have been severely critisised about offering seemingly good rates only to drop the actual rate soon after

I am not a Financial advisor...consult an Independent one, not from the Bank who is only a Saleman for that Bank

 

[wemorgan]

Please see the charges, and that the 6.6% is not guaranteed

The point about an ISA is that its tax free on the interest...you must however check out the actaul interest against the normal taxable net amount you might get outside an ISA.

Yes those are fair points, though 1% annual fee is less than a typical IFA charges and he adds the fund's fee on top of his, plus he wont have necessary negotiated a discount on the joining fee.

Also, sadly, no returns are guaranteed, not even Government Bonds. Would you invest in Greek Bonds today Even the Governments commitments to Northern rock have now been removed.

The whole are is a mine field, but at least I'm knowingly running through the field rather than have some over paid IFA push me through it

 

[crockers]

AXA Corporate Bond 6.6%

AXA Sterling Corporate Bond Accumulation | prices, charges & savings

OP was talking about cash ISAs. This is nothing like a cash ISA. Yields can be manipulated when quoting on corporate paper. Running yield means diddly squat. Look at the redemption yield of paper as running yield may be utilising capital loss at redemption.

Be aware this carries more inherent risk than Govt debt and far more than cash. But less than equities. All of course ignoring inflation.

 

[carnut]

Thanks

My Op was merely to bring to the attention of the Forum members that ISAs have to be managed and now is the time to review

( and vent my spleen at my own rediculous lack of interest ,both fiscal and my not having reveiwed my ISAs last year)