Have Cash ISA rates peaked?

[SpokeyDokey]

Hopefully not but one test will be after the next BoE rates review on 15 December.

Managed to shift 3 of our ISA's that matured this month (all 5 year lock ranging 2.21 to 2.61%) to 5 year locks at 5.05%.

Was giving some thought to killing two ISA's maturing next year, taking a hit on the 120 day interest penalty, and shifting them too. But the 5.05% deal has now gone. Damn!

Best deal now is with the State Bank of India at 4.65%.

Not sure whether to go for it or hang on a while.

Any thoughts?

 

[wafter]

I'd wait until after the 15th tbh. Interesting that the 5.05% one has gone; I can understand mortgate rates fluctuating as the leeches try to price in market uncertainty etc but would have expected savings rates to be much more rigidly tied to base rates.

I'm hoping for another fat rate hike next month as they're still massively lagging inflation, however the BOE have been pitifully soft so far and after the last one it wouldn't surprise me if they did nowt..

*EDIT* To qualify this above, I know sod all about finance and typically all everything wrong, so you're probably best doing the exact opposite

 

[SpokeyDokey]

I'd wait until after the 15th tbh. Interesting that the 5.05% one has gone; I can understand mortgate rates fluctuating as the leeches try to price in market uncertainty etc but would have expected savings rates to be much more rigidly tied to base rates.

I'm hoping for another fat rate hike next month as they're still massively lagging inflation, however the BOE have been pitifully soft so far and after the last one it wouldn't surprise me if they did nowt..

*EDIT* To qualify this above, I know sod all about finance and typically all everything wrong, so you're probably best doing the exact opposite

The 5.05% was with The Cumberand - small scale institution so I guess the allocated funds were relatively low.

Still, we got onboard ok and it gives us an additional £3k pa interest over what they were achieving before maturing this month.

Could do with a decent hike next month as the spenders haven't been deterred if Black Friday is anything to go by.

Plus, I definitely need to dump the two ISA's maturing next year asap as they are well off the pace now. I am going to wait until after the next BoE meeting next month.

Also two FRB's due next year - one in Feb and the other in June. Should be able to get them replaced, when the time comes, with much better rates.

NB: Virgin had a 4.41% ISA with 5 year term until a few days ago. Now gone and must've been fulfilled really fast.