Instant access cash ISAs

[funkyrobot]

I finally have some savings so am looking for a place to stash them before the end of the financial year. I've been looking at instant access cash ISAs as the money I'm saving is for a house deposit. When I find a house I like I need to get to the money without any quibbles.

So far, the one i've found that looks ok to me is this one:

http://www.northernrock.co.uk/savings/virginmoney/...

This one is instant access, has a decent percentage rate and pays monthly interest. I know it is Nothern Rock, but it's through Virgin money and is covered by the FSCS compensation scheme.

I can open this account online. Once I do, is it simply a case of transferring the money directly out of my online banking account? And with the FSCS guarantee is the money actually safe (odd question I know, but it is Northern Rock)? After the initial transaction, I should be able to add a few hundred to the account each month (obviously up to the £5k limit).

Also, is it worthwhile going for monthly or annually paid? I was thinking monthly as at any point over the next year I may be taking my savings out for a house deposit. If the interest is annual, will I still get it if I take the money out in November, for instance?

Thanks all.

[mathmos]

Do you have a Barclays account? they are offering 3.05%

http://www.barclays.co.uk/Savings/ISAs/CashISAndas...

[shep1001]

Cheshire offers even better rate of 3.3%. If you have £30K Natwest is looking good too at 3.5%.

[condor]

I've gone with Santander at 3.3% as it accepted transfers from previous years.
You get a cashcard so you can draw money from ATMs - presumably you could get whatever you've deposited back in a lump sum if required.

[funkyrobot]

Thanks all.

I'm not with Barclays and only have a few thousand to put away, so can't do Natwest or Barclays.

Is the Cheshire one a monthly interest account?



Oh yes. I'll take a look at Santander. Thanks.

[barney123]

funkyrobot said:

Thanks all.

I'm not with Barclays and only have a few thousand to put away, so can't do Natwest or Barclays.

Is the Cheshire one a monthly interest account?



Oh yes. I'll take a look at Santander. Thanks.

The Cheshire one is now 3.5% - I opened an account a couple of weeks ago at 3.16% and it then went to 3.35 and now 3.5% (does not accept transfers though I think).

[anonymous-user]

AA finance have 3.5% instant access ISA.