Best cash ISA rates this week

Last updated: Aug 20th, 2014
Feature by Moneywise editorial team

Everyone aged over 16 can save up to £15,000 in an ISA during the 2014/15 tax year.

This means all interest you earn in your ISA is free of tax - so a cash ISA should always be the first home for your savings.

Which type of cash ISA do you need?

When picking an ISA, the first thing to decide is whether you want to fix your interest rate or opt for more flexibility with a variable rate.

If you want to secure the interest rate you earn on your savings, and are happy to lock your money away for a set period of time, then a fixed-rate ISA might be for you.

However, if you want to make additional deposits beyond the upfront opening deposit, or make withdrawals, then a variable-rate ISA with easy access is probably more suitable.

Find the best Cash ISA or savings account for you

EASY ACCESS ISAs

  • Coventry BS Branch Instant Isa pays a rate of 2% AER on a minimum balance of just £1. Transactions can be made in branch only. Transfers in are not accepted.
  • Nationwide BS Flexclusive Isa (Issue 7) offers a rate of 1.75% AER on minimum deposits of £1. The ISA can be accessed in branch or online and transfers from other Isas are not permitted. The account is only available to Nationwide current account customers.
  • Cheshire BS Early Saver Isa (Issue 5) pays 1.6% AER on balances over £1. It can be managed in branch only. Transfers in are not accepted, however.
  • If you have a larger amount to transfer, consider the First Direct Cash ISA which offers a rate of 2% AER on balances of £40,000+.  First Direct is well known for excellent customer service and pays a £125 for transferring your current account business to them.

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NOTICE ACCOUNTS ISAs

FIXED RATE ISAs

FIVE YEAR

  • Leeds BS Fixed-Rate Isa (Issue 39) pays 2.85% AER on minimum balances of £100. The ISA can be managed online, in branch or by post. Transfers in are not accepted.
  • Julian Hodge Bank Cash ISA 5 Year offers a rate of 2.75% AER on minimum investments of £5,000. The Isa can be accessed in branch and by post only and transfers in from other providers are accepted.
  • Principality BS Fixed-Rate Cash Isa (Issue 129) offers a rate of 2.75% AER on minimum investments of £500. The ISA can be accessed online, by post or in branch. Transfers in from other providers are accepted.

FOUR YEAR

  • Nationwide Fixed-Rate Isa pays 2.4% AER on minimum investments of £1. Transfers-in are permitted and interest is paid yearly. The ISA can be accessed in branch only.
  • Halifax ISA Saver Fixed offers 2.1% AER on minimum deposits of £500. Transfers in are accepted and Isas can be managed online, in branch or over the phone.
  • Bank of Scotland Fixed Cash Isa pays 2% AER on minimum investments of £500. Transfers-in are permitted and interest is paid annually. The ISA can be accessed in branch or over the phone.

THREE YEAR

TWO YEAR

ONE YEAR/18 MONTHS

  • United Bank UK One Year Fixed Rate Cash NISA offers 1.75% AER. The account can be opened with £2,000 and it can be managed in branch or by post. Transfers are accepted from other cash ISA providers. The application must be submitted immediately after account opening.
  • Halifax 18 Month Isa Saver Fixed pays a rate of 1.7% AER on minimum balances of £500. Transfers in are allowed. Transactions can be made online, in branch or over the phone.
  • Tesco Bank Fixed-Rate Cash Isa offers a rate of 1.65% AER. It requires a minimum investment of £1 and can be operated online or over the phone. Transfers-in from other ISAs are accepted.

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