Thursday 18 April 2013

Best buy cash ISAs?

Question
Next week my 2yr 3.70% Fixed rate Postal Santander ISA matures so I am looking to transfer to another ISA.

Where can I find your current list of Cash ISAs? Answer
Sorry if my answer is a couple of week's too late. I don't maintain a list of best buy cash ISAs as sadly I just don't have the time. However, there are plenty of online sources for 'best buy' rates, a few examples as follows:

Which?
Moneyfacts
Moneysavingexpert

Your main decision is whether to go for fixed or variable. Fixed rates have come down over the last couple of years as the current low Bank of England base rate looks here to stay for a few more years yet (they don't want to risk raising rates while the economy is struggling), so it's less of a major decision than in the past.

If you opt for variable chances are the rate will include a temporary bonus, this is fine provided you make a note of when it ends and shop around for a better deal at that time.

Read this Q and A at http://www.candidmoney.com/askjustin/853/best-buy-cash-isas

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