ISAs

[thebish]

hmmmmm...

moved my bank account to santander 123 - which pays 3% interest on balances from £3000-£20,000

I reckon that even after removing basic rate tax - that's 2.4%

the best looking cash ISA rate I can see is currently 2.25%

why would I move this year's £15,000 annual ISA allowance into an ISA, when it would net me LESS interest??

am I missing something?

discuss!

[Bruce Rioja]

You need to calculate in your monthly fee for a 123 account, Bish. Mine's £2.00

[thebish]

You need to calculate in your monthly fee for a 123 account, Bish. Mine's £2.00

aye.. good point - I reckon that is more than covered by the cashback on my gas/leccy and phone/broadband...

[Bruce Rioja]

You need to calculate in your monthly fee for a 123 account, Bish. Mine's £2.00

aye.. good point - I reckon that is more than covered by the cashback on my gas/leccy and phone/broadband...

Indeed. This month mine paid me £15.93 (so £13.93 Nett) and has paid me out £414.70 in total.

[Hoboh]

£30,000's worth of premium bonds pays good interest with a good number of small wins over 12 months, unless you are an unlucky so n so!
Still onwards and upwards