Cash ISA saver

who has one?

what is your interest rate?

I don't have enough money to save anything

my hubby has one, he is at work and wont be back till late. its with the nationwide, but dont know the interest rate, i will ask him

I dont have much i have abit put away just in case if anything happen in the future, my year is nearly up so i want to shop around and get the best rate i can get i think i'm getting 2.8%

do you know anything about where you put your money in a account and you cant touch for like 5/10 years

i wonder if they are high risk account

I have one with halifax.I got it to save up for our wedding.Havent had any money to put in it since.I think there is about 1.50 in there now lol

Steve, don't automatically go for the highest interest rate you see as they arn't always the safest.

The higher the interest rate usually means the higher risk.

The Coop bank do ethical investing also have a look at them.

I have one, never used it ! Actually, I think there is £1 in it. lol

not got a cash isa but have got hsares in British Gas. Pete is a BG area manager and when he was an engineer he had the option to take ut a share buy scheme. he said yes he will do £200 per month fixed for 5 years so he had to pay that amount for 5 years untill the scheme matured. was brilliant cos the share prices had gone to rock bottom of99p per share because it was the start of the iran iraq thing. when they matured we wanted to move house so cashed in some shares. they were worth £4.05 a share so between the proffit from the old house and the shares we got a better bigger house plus decorated and furnished it. it was great cos we couldnt loose. BG would buy the shares back at the market value or the 99p so we never lost but could have broke even. the remaining shares unfortunately we had to sell to pay back the over draft and credit card while i have been off sick with my back. bummer really but glad we had the back up or we would ahve been stuck

sound abit to much of high risk to me i dont have a clue about shares, i just want my saving to sit in account to make intrest, my mate dad die a few years back he told me all the money he got off his dad he put into a account where he couldn't touch it for 5 years but he could still put more money in it but couldn't take it out

most isa's have a limit as to how much you can put in, our's is around £4500 per year, but you can with draw it at any time, so probably not the account you are looking for

You could look at equity linked (market linked) CDs Steve. Julie, that is a great shareplan that you have and I'd recommend participating any time they offer it.

my is 5000 before you have to pay tax i had my isa for 2 year now and nowhere near that amount, but surely there must be a better way of making your money to make money without a risk of losing it

i dont mind putting it into account where i cant touch it for 5/10 years aslong i'm getting better then 2.8%

Steve wrote:my is 5000 before you have to pay tax i had my isa for 2 year now and nowhere near that amount, but surely there must be a better way of making your money to make money without a risk of losing it

i dont mind putting it into account where i cant touch it for 5/10 years aslong i'm getting better then 2.8%

Steve, 2.8% is not that bad considering your governement's soveriegn debt yeild on the 10 year is 2.02%. Don't know your local market enough to speak to secure savings rates but 2.8% in an ISA (I assume the cash portion) is pretty darn good for right now.

I have to agree with Ben. I prefer mutual funds myself but CDs are the safe bet

Fixed rate account 4.5% but you cant take your money out for 3 years?

that not bad

http://www.halifax.co.uk/savings/accounts/

hlifax does 4.20% for 5 year

Remember that an ISA is tax free so if you save up lots of money you don't have to worry about being taxed on the interest. So it would be good to take that into account (pun?) before going for a high interest, "taxed" savings account.

andyhickman wrote:Remember that an ISA is tax free so if you save up lots of money you don't have to worry about being taxed on the interest. So it would be good to take that into account (pun?) before going for a high interest, "taxed" savings account.

fixed rate saving are just like cash isa but you cant touch the money for so many years

http://www.lloydstsb.com/savings.asp

lloyds does 2 year for 3.70%

Fixed rate savings

Most savings accounts are variable, meaning the rate can change both with the Bank of England's base rate and as providers change their competitive stance - so to keep earning well you need to actively monitor your accounts. Yet there is an alternative...

Fixed rate savings give a guaranteed rate for a set period, but you can't take your money out during that time.

Therefore, they're only suitable for those who are happy to lock cash away for the entire term.

However, this means you can bag some decent rates, with banks after your cash for longer, as with fixed rates they get surety that you won't want it back until a defined time, thus allowing them to plan their lending strategies better.

How long to fix for?

The longer you fix for, the more you are RISKING the fact that an unpredictable future means this could be a bad choice.

If interest rates were to increase rapidly, you would've lost the flexibility to ditch and switch to a better payer. As at Nov 2011, pundits were predicting the base rate would stay low for another year or so - but no one can know for sure, so it's important to go into fixed rate savings with your eyes open.

Another thing to consider is if the savings safety status of the institution changes, it'd be more difficult to get your cash out - though some merged banks in the past have allowed special dispensation for these balances.

llyods is the best one i can find 2 years for 3.70% but i need to know 3.70% i'm going to get every year or for 2 years if it just for the 2 year together i better off saveing with just a normal account.

since it says 3.70% "aer" that will mean you get 3.70% each year. I wish I had more than £10,000 to lock away for 2 years otherwise I would probably use it! :p

i just reread it i dont have 10,000 look like i would get a smaller interest rate i think i may have goto in have a talk to them