Best place for an ISA?
Discussion
Hi all, i currently have a isa running with Nationwide. Its a champion isa and it started on 3.10% last year, its now dropping down to 1.72% and im wondering if there is a better place to leave my cash to grow.
I try and place between £3-5k a year depending on other factors and i have just over £16k saved up.
Any recommendations to where i can swap it, would it be best to swap all or leave some in the current isa?
I try and place between £3-5k a year depending on other factors and i have just over £16k saved up.
Any recommendations to where i can swap it, would it be best to swap all or leave some in the current isa?
A.J.M said:
The Leaper said:
Nationwide have 4.2% if you lock in for a three year term.
R.
Hmm, that's interesting. It's my house deposit but that's a few year's away.R.
£5340 max cash ISA @4.2% pa =£224.28 tax free. To a 40% tax payer it's worth £373.80 pa. Not much, but significantly better than the earlier (incorrect) calculation of £45 (£90 on £10,000).
It all comes down to how much risk and diversity you want to have with your money. This ISA rate is acceptable at current market rates for a modest investment. You can, obviously, invest elsewhere in more risk orientated investments if you wish for all of part of your total available amount.
Anyway, the original poster wanted to know a good ISA and the Nationwide product seems to fit the bill.
R.
It all comes down to how much risk and diversity you want to have with your money. This ISA rate is acceptable at current market rates for a modest investment. You can, obviously, invest elsewhere in more risk orientated investments if you wish for all of part of your total available amount.
Anyway, the original poster wanted to know a good ISA and the Nationwide product seems to fit the bill.
R.
I had a Nationwide E-ISA last year and just before the rate bonus expired I discovered you could renew the same product instead of switching to another provider (which I had done the previous 3 or 4 years) and so I have kept it this year and am still getting the bonus rate. This saved so much hasstle! I'm not sure if the same would apply to the Champion Isa but might be worth ringing up and asking.
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