ISAs

Check on the Money Saving Expert's site, Martin Lewis is very good at steering you to the best deals. Sometimes bank rates are better and unless you pay tax at 40% the interest earned is free of tax.

Because of the uncertainty (to put it mildly!) after the 29th March I would still keep access to my money in case the interest rates rise and you want to move your money elsewhere. Do not fix it for even one year, never mind 2+.

Try looking at Ethex if you would like a change. It is green and we have found it reliable and run by competent people.

Wait until the end of March when the rates will change then Google for best Isa rates.
You can receive 1.5% in a current account without having to fix.
The rates are not good for Isa you may have to fix the rate for a term of years to get anything like.

Check this link out
www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html

You may have to fix to get a rate over 1.5%.

It really depends on various things eg how much you have to invest, whether you are a tax payer, risk taker, need access to the money soon.

I would look at a variety of options then choose the most suitable for you. I would never just reinvest automatically without looking at all options. Also if it is a large sum it might be worth sharing it across options.

I find the Post Office fixed bonds have better rates than a lot of other savings accounts. Have had one or two years ones for many years.
I have a one year one due out in May, don't think this Brexit lark will make much difference to anything though.

I have current accounts with 3 banks which offer 5% interest for 12 months on their savings accounts. I drip feed £300pm into each.
The derisory rates in ISAs are of no interest. Larger amounts do well in stocks and shares but I carefully choose my own. Oil/gas/pharma and building plus Asian markets are all good.

We had a bond which matured recently, and re-invested most of the money in another fixed-rate account. However, we decided to place quite a chunk of the funds in premium bonds.
They have been in the draws for two months now, my husband has had 3 wins, totaling £75. I have had none.
Worth considering though - you never know!

Google RCI Bank.

That where we found good interest rates.

ISAs are less attractive now we have an annual allowance for tax-free interest.

Hold your horses and do your history.
RCI bank are not, to my knowledge, covered by the FSCS.

The majority of my savings are in index linked bonds, sadly not available to new investors. Each time one reaches maturity I reinvest the money for a similar term. I have a large number of premium bonds which give greater returns than any savings account but that is just luck.
I would be surprised if you got a rate greater than 1.5%.

According to their website RCI bank are protected.

Martin Lewis was suggesting a cash ISA with the Coventry BS at 1.5% this week.

We cashed our ISA’s in and put the money in premium bonds until we decided what to do with it, we’ve ‘won’ a lot more since doing this six months ago than we did with the ISA’s.

I was thinking of premium bonds can you set up a direct debit for this as to drip feed mo they?ladygracie?

Harris27 you can set up a standing order to buy premium bonds but not a direct debit as far as I know.

I am still a fan of cash ISAs. The rates are creeping up in the run up to the end of the financial year.

Some other options,like some current accounts which pay good rates, may seem tempting but there is usually a limit to how much can be paid in to them.

The £1,000 interest we are allowed to earn before tax is payable is good, but if interest rates continue to rise, albeit slowly, then it would be very easy to reach that limit with only a reasonable amount of life savings.

And of course (perish the thought) were Labour to move into no. 10, any generous tax allowances could vanish in the blink of an eye.

Very true JenniferEccles and with your last sentence that could apply to all isas we currently have!

Yes you have a point Carolina55 but I recently read that it is the £1,000 tax free interest which would be more at risk.

The article said that ISAs should be safe, even from Corbyn! Famous last words though?!!