Cash ISAs And The Bank Job?

It is evident that I am in film linking mode (see the movie poster of “The Bank Job” set in 1970’s London and starring Jason Statham, which seems appropriate given the release of “Tinker, Tailor, Soldier, Spy” and a general concern that we may begin to see a return to the 1970’s in many other respects). There were considerably more Banks and Building Societies in the 1970’s than there are now. Anyway, here are some of the current top rates for various deposit accounts. This is not in any way advice. You should always check the detail, less the Bank (or Building Society) pull the proverbial wool over your eyes. A site that I find very helpful is moneyfacts.co.uk which is a fairly decent comparison site for deposit accounts of various shapes and sizes. Be warned that anyone holding a modicum of cash will invariably be solicited by a Bank (or Building Society) to use a “better” account. The key question is – better for whom?

One Year Deposit

Online: Leeds Building Society 3.46%

Bank: Santander 4.20%

Building Society: Barnsley 5.00%

Two Year Deposit

Online: Post Office 3.96%

Bank: Clydesdale 3.82%

Building Society: National Counties 3.76%

Instant Access

Online: Derbyshire 3.18%

Bank: Santander 2.50%

Building Society: Nottingham 3.25%

Fixed Rate Cash ISA

Online: Clydesdale 4.50%

Bank: Clydesdale 4.50%

Building Society: Barnsley 5.00%

Variable Rate Cash ISA

Online: AA 3.05%

Bank: Santander: 4.00%

Building Society: Newcastle 3.00%

So not that much change over the last seven days or so.