Cash ISA – Fixed Rates Rising
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As ever, this is not a list for advice, but a list to give guidance about some of the best or top paying rates currently available. You should always check the details of any deposit account in the terms and conditions. Also be aware of protection in the event of the Bank or Building Society going bust – this informaiton can generally be found at the FSCS wesbite. If you would like to do your own search on deposit account rates, then have a look at Moneyfacts. As inflation is currently 5.00% the vast majority of deposit accounts in all forms pay below this level, therefore the purchasing power of your savings is reducing. Locking in to a rate that is below inflation for a long period is generally not a wise idea.
One Year Deposit
Online: Yorkshire Bank 3.60%
Bank: Santander 4.20%
Building Society: Barnsley 5.00%
Two Year Deposit
Online: Yorkshire Bank 4.01%
Bank: Clydesdale 4.01%
Building Society: National Counties 3.76%
Instant Access
Online: Nationwide 3.12%
Bank: Santander: 2.50%
Building Society: Nottingham 3.25%
Cash ISA Fixed Rate
Online: Skipton 4.00%
Bank: Halifax 4.40%
Building Society: Barnsley 5.00%
Cash ISA Variable Rate
Online: AA Savings 3.05%
Bank: Santander 4.00%
Building Society: Newcastle 3.05%
Don’t forget that the FSCS limits apply per Banking Institution, not per Bank. If you find yourself looking at the Yorkshire Bank and Clydesdale Bank wesbites and find yourself thinking that they look very similar, that is because they are (a certified copy) – and both owned by National Australia Bank.
Dominic Thomas
Solomons IFA
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk
One Year Deposit
Online: Vanquis 3.45%
Bank: Santander 4.05%
Building Society: Barnsley 5.00%
Two Year Deposit
Online: Nottingham 4.00%
Bank: The Co-Operative 3.75%
Building Society: National Counties 3.76%
Instant Access
Online: West Bromwich 3.17%
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%
Of course none of these rates look good when you consider that RPI is currently running at 5.0% and CPI is 4.40% (according the Office for National Statistics). In fact cash currently locks into a guaranteed loss in real terms.
At the risk of sounding stupid, this is not advice. It is merely a list of some of the best rates currently available. However I advise caution, some banks and building society accounts are not quite what it says on the tin. Some are linked to the stock market – which to my mind is virtually the opposite of deposit. The FSA know this, but so far I have not seen any action by them, though in fairness they are keen to prevent misleading advertising within financial
Dominic Thomas
Solomons IFA
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk
Here are the details of some of the top rates around. As we live in a litigious culture please remember that this is not advice or a recommendation. Indeed my own view of some of these products is could not be described as favourable – some are entirely misleading and should concern the FSA in regard to how these accounts are “identified” and marketed.
One Year Deposit
Online: Leeds Building Society 3.60%
Bank: Santander 4.05%
Building Society: Chelsea 5.00%
Two Year Deposit
Online: Bank of Ireland 4.00%
Bank: Co-Operative 3.75%
Building Society: National Counties 3.76%
Instant Access
Online: Coventry Building Society 3.15%
Bank: Santander 2.50%
Building Society: Nottingham 3.25%
Fixed Rate Cash ISA
Online: Clydesdale 4.50%
Bank: Clydesdale 4.50%
Building Society: Chelsea 5.00%
Variable Rate Cash ISA
Online: AA 3.05%
Bank: Santander 4.00%
Building Society: 3.00%
Dominic Thomas
Solomons IFA
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk
I was at a special showing of a new film that is on release in the US at the moment. “The Help” which stars a great ensemble cast is about small town American bigotry in the 1960’s. The film is based on Kathryn Stockett’s 2009 novel which has reached 5m sales. Not bad for a debut novel. I think she even has a cameo role in the film.
The story is about life in Jackson, Mississippi during the 1960’s. The marketing of the film is that this is from a black maid’s perspective. In truth it is really a white woman’s attempt to understand her perspective and experience. A story of courage, friendship, dignity, peer pressure, social conformity and love. Whilst in reality this is this a new story (written in 2009) it is still all too staggering to believe that this was only 40-50 years ago in America’s recent past.
As our media currently gets itself into a tangle about the where, why and how of the recent rioting this is a timely reminder about the pernicious nature of the failure of people to speak up and to demand a fair and just world, because of their own inability to listen, understand or to accept that their version of life may not be completely accurate. Martin Luther King’s words still call us to “not be judged by the colour of their skin but by the content of their character”.
If there is any doubt about my position – I’m with Mr King every time. Sadly the film is not released in the UK until 28th October 2011. It’s a great movie with powerful portrayals and one that ought to be shown here earlier to remind people what a real cause is all about, but also to remind us that courage and friendship are the foundations towards peace.
https://www.youtube.com/watch?v=1GYmhc8Xk8g
Dominic Thomas
Solomons IFA
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk
Here are some of the best rates currently available for deposit accounts, including Cash ISAs. Please note that this is not advice, will alter and is in no way advice about any particular bank or building society.
Variable rate Cash ISA
Online: Santander 3.30%
Bank: Sanatander 4.00%
Building Society: Newcastle 3.00%
Fixed Rate Cash ISA
Online: Clydesdale 4.50%
Bank: Clydesdale 4.50%
Building Society: Chelsea 5.00%
One Year Deposit
Online: Aldermore 3.52%
Bank: Santander 4.05%
Building Society: Chelsea 5.00%
Two Year Deposit
Online: Bank of Ireland 4.00%
Bank: NatWest 3.75%
Building Society: National Counties 3.76%
Instant Access
Online: Coventry 3.15%
Bank: Santander 2.50%
Building Society: Nottingham 3.25%
Dominic Thomas
Solomons IFA
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk
I am repeating myself by saying that this is not advice, but a guide to some of the best rates around. You should always check the detail and please think carefully about which Bank to place your hard-earned savings with. Some are safer than others. Last week Southsea Bank was closed by the regulator and Bank of England, triggering £7.6m of problems. Yes I had not heard of Southsea Bank either, but then again with 250 depositors its a wonder anyone else has either.
One Year Deposit
Online: Aldermore 3.55%
Bank: Santander 4.15%
Building Society: Yorkshire 6.00%
Two Year Deposit
Online: Derbyshire 3.95%
Bank: NatWest 3.75%
Building Society: Kent Reliance 4.00%
Instant Access
Online: Nationwide 3.05%
Bank: Santander 2.50%
Building Society: Nottingham 3.25%
Fixed Rate Cash ISA
Online: Halifax BOS 4.40%
Bank: Halifax BOS 4.40%
Building Society: Cheshire 4.40%
Variable Rate Cash ISA
Online: AA Internet Access 3.35%
Bank: Santander 4.00%
Building Society: Derbyshire 3.15%
Dominic Thomas
Solomons IFA
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk
Remember that this is not advice, you should check the details. This is a guide to the current “best” rates around. MoneyFacts is a great site to check this on. Beware that all banks are not alike and those offering great rates of interest may simply need your cash rather more, which is not necessarily a good thing.
One Year Deposit
Online: Aldermore 3.55%
Bank: Santander 4.15%
Building Society: Yorkshire 6.00%
Two Year Deposit
Online: Derbyshire: 3.95%
Bank: NatWest 3.75%
Building Society: 3.95%
Instant Access
Online: Nationwide 3.05%
Bank: Santander 2.50%
Building Society: Nottingham 3.25%
Fixed Rate Cash ISA
Online: Halifax BOS 4.40%
Bank: Halifax BOS 4.40%
Building Society: Cheshire 4.40%
Variable Rate Cash ISA
Online: AA Internet Access 3.35%
Bank: Santander 4.00%
Building Society: Derbyshire 3.15%
Dominic Thomas
Solomons IFA
You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk