lowest interest ever?

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Thursday 25 March 2010 10.54am
a small isa, in fact the only isa i have, 4.250 approx with santander..... interest rate is so incredible I need a lorry to collect it...FORTY THREE PENCE! so where and how do i take it out and where is the best rate at moment..before i spend, spend, spend!
Thursday 25 March 2010 2.45pm
http://www.hmrc.gov.uk/ISA/transfer-isa.htm on ISA transfers. (NB - some of the best-rate ISAs don't accept transfers in. But you undoubtedly WILL find someone who accepts transfers in, and probably offers better rates than your current one. Also, you should check the terms of your current ISA to make sure there aren't any penalties for transferring).

Somewhere like: http://www.moneysavingexpert.com/savings/cash-isa-transfers

or: http://www.moneysupermarket.com/savings/

will give you a good idea of what's on offer.

If it's not a slur to assume you might be t'other side of 50 (I know you're young at heart), then you might find that there are specially good rates for the more mature customer.

Good luck. Personally, I think the trick is, unless you're happy with chopping and changing at regular intervals, to find a provider who offers a consistently decent rate over time, rather than offering a fantastic rate to get you signed on, and then reduces it down the line to next to nothing.

Hope that helps

...if you press it, they will come.
Thursday 25 March 2010 10.01pm
Had another look tonight Ivanhoe...blush and the grand total is 4.43 interest....still rotten one!I am going to take it out and put it in the flipping post office!
Friday 26 March 2010 11.31am
I've mentioned before on this site that with interest rates where they are at the moment, the only place worth keeping your money is in Premium Bonds. I've just had a cheque from 'Uncle Ernie' for 25, which is more than I would have recieved from the building society had I kept my savings there for the last year. The thing is though, that cheque could just as easilly have been for one of the major prizes up to a million quid! The downside is of course that Premium Bonds are non interest bearing and are a depreciating asset. But as we are going through a period of low inflation, that depreciation is negligable and I always have the dream every month of winning a bigee!
Friday 26 March 2010 1.38pm
Do remember, Jan, that if you take your money out of an ISA and put it into a regular savings a/c you will pay tax on any interest earned from the time that you take it out of the ISA.

Transferring from one ISA to another (as long as you get your new ISA provider to do the transfer for you) enables you to keep any interest earned as tax-free.

Good luck with finding your money a new home.

...if you press it, they will come.
Friday 26 March 2010 1.50pm
Oh thats brilliant Ivanhoe, thank you sweetheart :-)
I wish I was more in touch with my finances!

Chalkey, whats the minimum premium bonds you can buy today?
Friday 26 March 2010 8.07pm
Jan, I think it's a hundred pounds, but I would check that. What a difference from the one my mum bought my dad for a birthday present when they first came out.......1.
Friday 26 March 2010 9.48pm
By the way, Jan. One lucky winner I will never forget hearing about was four years or so ago when I was living in Hereford. I'd just dropped my youngest off at school and was pootling home listening to 'Classic FM,' when, just after the nine o'clock news, Simon Bates announced that the winner of that month's one million pound Premium Bond draw lived somewhere in Scotland. He/she had bought their bonds (one hundred pound's worth,) two months before and this was the first time they had been entered in the draw. (You have to have your bonds for one clear month before they are eligable to be entered.)
You don't get much luckier than that.
Monday 29 March 2010 11.43am
http://www.nsandi.com/products/pb/rates avge rate of return on premium bonds is 1.5%. Odds of winning are 24,000/1.

Avge rates of return on a decent cash ISA start at approx 3%.

...if you press it, they will come.
Monday 29 March 2010 2.10pm
Where do you find out about premium bonds: I was bought one when I was a baby ... [erm, quite a few years ago] ... I could be a millionaire! And I don't know how to find out!
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