Best ISA right now?

[caduceus]

Where would be the best place to park 20k for a year at the moment? I'm not crazy about risk as I got my fingers burned playing Gordon Gekko some years back (Range Resources ) so I guess it's CISA or S&SISA.
Look forward to your recommendations.

Thanks in advance.
Cad

[MrBen986]

There's a number of one year fixed rate Cash ISAs out there currently at a little over 5.5%. Seems a pretty sensible way to go - check the likes of Money Saving Expert for the latest deals.

[BobToc]

It’s less about the best ISA provider and more about what you want to put in the ISA. If you really don’t want risk then a cash ISA is probably the best way to go, but for most people who want to hold for more than 5 years a diversified equity tracker like VWRD is probably the way to go.

Others may have a different view, but I think individual stock picking is a tough business.

[caduceus]

MrBen986 said:

There's a number of one year fixed rate Cash ISAs out there currently at a little over 5.5%. Seems a pretty sensible way to go - check the likes of Money Saving Expert for the latest deals.

Thanks for the tip. I've checked MSE and it's listing 'Metro Bank' at the top 5.71%. Are they safe to invest with?
There's also Metro Bank 5.61%.

Edited by caduceus on Tuesday 14th November 15:33

[Somebody]

caduceus said:

Thanks for the tip. I've checked MSE and it's listing 'Metro Bank' at the top 5.71%. Are they safe to invest with?
There's also Metro Bank 5.61%.

Edited by caduceus on Tuesday 14th November 15:33

If total under £85k, it'll be protected by the FSCS.

[caduceus]

Well I went to Metro bank to open an ISA on Tuesday. Bank shuts at 18:00, got there at 15:45. Asked who do I see about opening an account and the young lad behind the desk said everyone's busy and they're going home after they've seen the client they're seeing.
Bizarre customer service. They must be doing so well, as they dont want my 20k.
Guess I'll stick it into Zopa.

[Jawls]

caduceus said:

Where would be the best place to park 20k for a year at the moment? I'm not crazy about risk as I got my fingers burned playing Gordon Gekko some years back (Range Resources ) so I guess it's CISA or S&SISA.
Look forward to your recommendations.

Thanks in advance.
Cad

S&S ISAs can have significant risk associated with them, depending on what you put inside the wrapper.

If only for a year, you’d be crackers to take on any significant volatility.

[mikef]

Rates must be going down again. I opened a fixed rate cash isa online with NatWest in August at 5.7%, it looks as though they are now offering 5.26%

[BoomerPride]

caduceus said:

Well I went to Metro bank to open an ISA on Tuesday. Bank shuts at 18:00, got there at 15:45. Asked who do I see about opening an account and the young lad behind the desk said everyone's busy and they're going home after they've seen the client they're seeing.
Bizarre customer service. They must be doing so well, as they dont want my 20k.
Guess I'll stick it into Zopa.

Surely you don't need to visit bricks and mortar places nowadays to open an ISA?

[C69]

BoomerPride said:

Surely you don't need to visit bricks and mortar places nowadays to open an ISA?

Bizarrely you do if you want to open one with Metro Bank.

OP, Virgin Money is currently offering 5.85% on a one-year cash ISA. And it can be opened online...

[rossub]

C69 said:

OP, Virgin Money is currently offering 5.85% on a one-year cash ISA. And it can be opened online...

Only if you have a current account with them.