Recommend me an ISA
Discussion
It is getting to that year and I have just checked my AER on my Easy ISA with Santander and it is pants - 0.1%!
Anyone have any recommendations for a cash ISA?
Stipulations:
- Preferably no penalty for early closure
- Up to £500.00 opening deposit
- Free transfers to and from the account
Is this too much to ask for? I opened the original ISA purely to ring fence money out of my current account for the purpose of saving and now, starting to get a bit more savvy, I would like to be able to take advantage of better interest rates etc.
I am still quite naïve to all the terminology, so easy English would be preferred
I'm open to recommendations outside of my stipulations, but I would like to be able to have (relatively) easy access to the money if the excrement hit the fan.
Anyone have any recommendations for a cash ISA?
Stipulations:
- Preferably no penalty for early closure
- Up to £500.00 opening deposit
- Free transfers to and from the account
Is this too much to ask for? I opened the original ISA purely to ring fence money out of my current account for the purpose of saving and now, starting to get a bit more savvy, I would like to be able to take advantage of better interest rates etc.
I am still quite naïve to all the terminology, so easy English would be preferred
I'm open to recommendations outside of my stipulations, but I would like to be able to have (relatively) easy access to the money if the excrement hit the fan.
boyse7en said:
ringram said:
You guys should be in stocks and shares.
For zero risk get some gilts with your target date as maturity.
Or corpo bonds can pay 5% easy.
Cash is for losers
how does this ^For zero risk get some gilts with your target date as maturity.
Or corpo bonds can pay 5% easy.
Cash is for losers
help with "I am still quite naïve to all the terminology, so easy English would be preferred"
I did think of stock market investment etc but after about 15 minutes I was totally overloaded with acronyms and terminology, I gave up!
http://www.moneyobserver.com/portfolio-ideas/dogs-...
Do what they say and you will (hopefully) see better return - my 2013 / 2104 dogs did 13.2%
Do what they say and you will (hopefully) see better return - my 2013 / 2104 dogs did 13.2%
SickFish said:
God this makes me feel thick 
Ideally what I would want is to set up a standing order/ DD into an ISA for £250.00 a month and just let it sit there and watch it grow....
Maybe shares are the better place? Who knows, but the shares market is massively daunting
You need a isa fund if you don't have the money now, but if you read my dogs link it will be very clear as its written for people who know little about it. Read its performance, its not sexy on here to only make 13% but its fairly safe (!) and better than 2%Ideally what I would want is to set up a standing order/ DD into an ISA for £250.00 a month and just let it sit there and watch it grow....
Maybe shares are the better place? Who knows, but the shares market is massively daunting
ringram said:
You guys should be in stocks and shares.
For zero risk get some gilts with your target date as maturity.
Or corpo bonds can pay 5% easy.
Cash is for losers
So how come stocks/shares ISA's are not better again right now?For zero risk get some gilts with your target date as maturity.
Or corpo bonds can pay 5% easy.
Cash is for losers
No tax but the growth potential of the stock market!?
Dave
DSLiverpool said:
SickFish said:
God this makes me feel thick
Ideally what I would want is to set up a standing order/ DD into an ISA for £250.00 a month and just let it sit there and watch it grow....
Maybe shares are the better place? Who knows, but the shares market is massively daunting
You need a isa fund if you don't have the money now, but if you read my dogs link it will be very clear as its written for people who know little about it. Read its performance, its not sexy on here to only make 13% but its fairly safe (!) and better than 2%Ideally what I would want is to set up a standing order/ DD into an ISA for £250.00 a month and just let it sit there and watch it grow....
Maybe shares are the better place? Who knows, but the shares market is massively daunting
What do you mean by an ISA fund? I realise not all ISA's accept monthly payments, is that a specific type of ISA?
This is hurting my head.....!
I just want an account that I can make regular payments into, that has a better interest rate than 0.1% so it will at least grow a little
ringram said:
Mr Whippy said:
So how come stocks/shares ISA's are not better again right now?
No tax but the growth potential of the stock market!?
Dave
Risk.No tax but the growth potential of the stock market!?
Dave
Gilts are risk free.
Amen.
OP Google is your friend. Education is your next best friend
I like to think I am reasonably educated, but as I start getting deeper into banking and saving options, I am out of my depth.
ringram said:
Or corpo bonds can pay 5% easy.
As I understand it the better the stockmarket is doing, the worse corporate bonds and gilts are.My plunge to invest and rearrange has been slightly blunted by the fact that things are buoyant now and I suspect by Autumn will have dropped once more, so would be buying near the top.
But yes, cash ISA, may as well keep it under the mattress and save the admin. You can only lose whatever the rate of inflation is, and that will outperform many investments!
SickFish,
Whatever you do, don't rush into anything. If you want to get more informed and 'educated' do so at your leisure. You can always subsequently re register a Cash ISA into an Investment ISA don't forget, but not vice versa. So even if you drop your 2013/14 into a crap account, that's better than not doing it at all. In many ways, it's better because from the off, you know you have to work at it to improve things, and that's a great imperative which will always be at the forefront of your thinking.
Whatever you do, don't rush into anything. If you want to get more informed and 'educated' do so at your leisure. You can always subsequently re register a Cash ISA into an Investment ISA don't forget, but not vice versa. So even if you drop your 2013/14 into a crap account, that's better than not doing it at all. In many ways, it's better because from the off, you know you have to work at it to improve things, and that's a great imperative which will always be at the forefront of your thinking.
SickFish said:
ringram said:
Mr Whippy said:
So how come stocks/shares ISA's are not better again right now?
No tax but the growth potential of the stock market!?
Dave
Risk.No tax but the growth potential of the stock market!?
Dave
Gilts are risk free.
Amen.
OP Google is your friend. Education is your next best friend
I like to think I am reasonably educated, but as I start getting deeper into banking and saving options, I am out of my depth.
But regulations are always changing to try improve things so investors can make easier and faster choices with clearer simpler information.
When I was last at the bank I was asking about something ISA related and the advisor got confused and just diffused my question
I think far too many people just stuff there money away and 'trust' someone else knows what they are doing.
In the end there is nothing wrong with wanting to learn/understand it yourself and sometimes it's good to bounce specific things you are having trouble with off other people.
Reading pages of text or details about accounts often doesn't relieve the concerns you have about detailed specifics etc.
Real experts would help by answering your question in language you can understand.
Dave
Ginge R said:
SickFish,
Whatever you do, don't rush into anything. If you want to get more informed and 'educated' do so at your leisure. You can always subsequently re register a Cash ISA into an Investment ISA don't forget, but not vice versa. So even if you drop your 2013/14 into a crap account, that's better than not doing it at all. In many ways, it's better because from the off, you know you have to work at it to improve things, and that's a great imperative which will always be at the forefront of your thinking.
It's already in a crap account - that's my gripe Whatever you do, don't rush into anything. If you want to get more informed and 'educated' do so at your leisure. You can always subsequently re register a Cash ISA into an Investment ISA don't forget, but not vice versa. So even if you drop your 2013/14 into a crap account, that's better than not doing it at all. In many ways, it's better because from the off, you know you have to work at it to improve things, and that's a great imperative which will always be at the forefront of your thinking.
This is currently where my cash is sitting Santander Easy ISA
Id just like to move it to a better performing account. Lookin on the Santander site the Direct ISA Saver seems to fit the bill, with a 10 times better AER than my current account:- 1% Vs. 0.1%
Have a look at Solvency II and Basel III to get a feel about what the new euro wide regulations that relate to capital adequacy (the amount that banks and institutions must hold to cover debt) might do to bonds and bond funds over the longer term.
Sorry thread drift.
Sorry thread drift.
Simpo Two said:
As I understand it the better the stockmarket is doing, the worse corporate bonds and gilts are.
My plunge to invest and rearrange has been slightly blunted by the fact that things are buoyant now and I suspect by Autumn will have dropped once more, so would be buying near the top.
But yes, cash ISA, may as well keep it under the mattress and save the admin. You can only lose whatever the rate of inflation is, and that will outperform many investments!
My plunge to invest and rearrange has been slightly blunted by the fact that things are buoyant now and I suspect by Autumn will have dropped once more, so would be buying near the top.
But yes, cash ISA, may as well keep it under the mattress and save the admin. You can only lose whatever the rate of inflation is, and that will outperform many investments!
Edited by Ginge R on Wednesday 12th March 13:19
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