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ISA interest

by Fool153580683 01 January 2009 |

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ISA paying 2%.
Where,as a taxpayer would i be better putting £150.00 per month.

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MikeGG1 posted
Look for a good Fixed-rate 12-month Regular Saver operated as a loss-leader by some, such as Abbey & Principality, who both give 6% gross (4.8% net). Then tip it into the best ISA you can get at the time and re-start the process.

There are some Building Societies which don't have ISA products as such, who are prepared to wrap up any of their products as ISAs instead. These sometimes give better ISA rates as a consequence.

Posted on 01 January 2009 | Love 0 loves Report
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foolishecosse posted
There is also Barclay's monthly saver, which is fixed for a year. It's currently at 6% gross (4.8 net, or 3.6 if you are a higher-rate tax payer). IIRC, it hasn't been reduced post the December BoE rate cut, so it might go down again, especially if there is a rate cut on the 8th January. (Rate is fixed at time of opening for a year).

See http://www.barclays.co.uk/savings/ , it's at the bottom.

Or, Manchester BS is offering 4% on its ISA. This isn't a fixed-rate. See http://www.themanchester.co.uk/mbsnew/savings/content/premier_instant_isa.asp

The Barclay's account doesn't allow initial deposits, other than the first month's savings (£20-£250pm).
Manchester's only restrictions are the standard ISA ones, and a maximum deposit of £250 per day.
Posted on 01 January 2009 | Love 0 loves Report
878

MikeGG1 posted
Abbey have just chopped their rate to 5% leaving Principality (max £500 per month) and Barclays plus Norwich & Peterborough BS (both £250 max) still on 6%.

The net rate of 4.8% (3.6% for a higher rate payer) should be compared with ISA rates.

Posted on 03 January 2009 | Love 0 loves Report