ISA Help

    • MrMardyBum
      MrMardyBum
      Bronze
      Joined: 14.03.2009 Posts: 2,206
      When it comes to ISA's I have little clue what is going on...

      2.60% AER tax free including a 12 month fixed bonus of 2.35% - Is that good?

      I am only going to be paying in a bout a grand over the year? Is there something much better I should look at first?

      Thanks for any help you can offer
  • 6 replies
    • MrMardyBum
      MrMardyBum
      Bronze
      Joined: 14.03.2009 Posts: 2,206
      tried researching this online...

      Every site says a different one is better... anyone know of a un-biased site that will give me decent reviews, if you can't really help me here?
    • JonikoP
      JonikoP
      Bronze
      Joined: 15.05.2010 Posts: 600
      Sounds fine but only if you're going to move it after a year (when the bonus ends you'll be on a shocking 0.25 AER) and personally I'm always too lazy to do this.

      I think this site is pretty good for comparisons: http://www.moneysavingexpert.com/savings/best-cash-isa
    • ShaQQ
      ShaQQ
      Bronze
      Joined: 07.10.2008 Posts: 162
      Do you have any online saving accounts? PostOffice do a decent one that's 3.01% Gross (pre tax) so probs 2.7ish net (post tax), acts like a current account so accessible 365/24/7, no penalties on withdrawals and an option for monthly interest (interest on top of interest).

      BankAccounts

      PostOfficeOnlineSaver

      Make sure you look for penalties on withdrawals on any online saver because they can offer 0.3% more but your money is locked up pretty much.

      I would keep your money as fluid as you can for when the time comes (wouldn't hold your breath) when interest rates pick up and the economy starts growing, or contracts a ton and starts growing again, if you're a tax payer then go for the ISA, but there are better options around, if you end up having excess cash then cap an ISA for sure. GL in the future, Paul.

      --EDIT The account with the PostOffice is also covered by the governments 85k per individual protection scheme.
    • MrMardyBum
      MrMardyBum
      Bronze
      Joined: 14.03.2009 Posts: 2,206
      Thanks for the help and the links guys/girls.

      I think the post office one looks pretty handy - Might be a bit to easy access my savings though as my PO is less than 30 seconds away. :)

      The £1,000 is for my Bankroll for the year 2013, I know year is april to april but I don't plan to be bust by then, and if I have a decent roll it will be added to the car fund :)


      Thanks again - Very helpful :)
    • ShaQQ
      ShaQQ
      Bronze
      Joined: 07.10.2008 Posts: 162
      Once you need to send copies of ID and proof of address etc, have them stamped and signed by the PO close to you, I think they need to write - "Certified originals" and sign it, along those lines, but it's all on the documentation that gets sent, great idea btw keeping your BR in a savings account, a month soon flies by and stake depending you can hedge potential losses quite well! All the best, Paul.
    • MarkQuick
      MarkQuick
      Bronze
      Joined: 06.12.2010 Posts: 1,343
      @ShaQQ, thanks for your post great help!

      @MrMardyBum, have you tried Which magazine online? Some great advice re: ISA's. Click here to read their ISA articles.

      If you need anything else just give me a shout :)