Which Cash ISA?

[Koolpc]

Looking to open a cash ISA. One that is very safe, reliable and i can add in the allowed amount each year.

Any that you recommend?

Trading212 any good?

Thanks

 

[simplesteve]

You’ll get better rates from some ‘ standard’ accounts, and forget the ISA part…

 

[Harry Bloomfield]

Trading212 any good?

3.85 AER variable, versus the 3.80 from my Kroo.

 

[Mottie]

Nat West. 1 year fixed at 4.2%.

 

[blup]

Keep it simple, your own bank will have a reasonable offer, dead easy to setup if you have the banking app. Some get worked up by fractions of a per cent interest so shop around if that’s important to you.

 

[johnny2007]

I got Trade 212 last year and moving all my previous ISAs was very easy on the app.
You can see daily interest on the app.
Said this, go to whatever financial institution gives you best interest.

 

[simplesteve]

For £200 a month you'll get 6.5% at the Nationwide

 

[Koolpc]

But, with the Nationwide its taxable?

I am with them and the Fixed term ISA's are just that, fixed term. I want an ISA where i can add £20k each year into the same pot.....you cant do that with the fixed term ones?

 

[noseall]

For £200 a month you'll get 6.5% at the Nationwide

It's not an (tax free) ISA and amounts limited.

 

[motorbiking]

You’ll get better rates from some ‘ standard’ accounts, and forget the ISA part…

That would depend on your tax rate and other savings. The point is to put the money beyond Rachel Reeves' greedy hands.

Example: 40% tax payer

£20,000 in a YBS instant access ISA at 4.0% = £800 Net interest
£20,000 in a Chase boost account at 4.6% = £920 interest - £368 Tax = £552 Net interest.

 

[motorbiking]

For £200 a month you'll get 6.5% at the Nationwide

Assuming you had the £2400 at the start thats 3.5% over the year.

 

[Koolpc]

I am with the Nationwide and they only do fixed term ISA's.....if opened one now and deposited £20k, they wont let me add another £20k next April.

Seems like the Trading 212 is the best one....

 

[Brigadier]

I am with the Nationwide and they only do fixed term ISA's.....if opened one now and deposited £20k, they wont let me add another £20k next April.

Seems like the Trading 212 is the best one....

Afaiaa with regard to ISAs, you can only put £20k total in per year.


No matter how many different ISAs you make use of.

 

[Mottie]

But, with the Nationwide its taxable?

I am with them and the Fixed term ISA's are just that, fixed term. I want an ISA where i can add £20k each year into the same pot.....you cant do that with the fixed term ones?

If you have a 1 year fix, at the end of it you are free to stay with the same provider or move to a better one and take out a new one year fix (or longer if you want). You can transfer in to a new one or stay with the old one plus add £20k when you open it 20k (but that might change after the budget). If you have more than a one year fix, you can’t add to that one but you are free to start another isa in the new isa year. I have 4 ISA's that mature at different dates. Each time they mature, I either stay with them if other rates are similar or if need be, I move them. At the moment, I am with Kent Reliance, Vanquis, Shawbrook and Nationwide.

 

[Koolpc]

Afaiaa with regard to ISAs, you can only put £20k total in per year.


No matter how many different ISAs you make use of.

But, if i opened one now, i could then put another £20k in in April as that is start of new tax year?