Best cash ISA rates this week

Last updated: Jun 24th, 2015
Feature by Moneywise editorial team

Everyone aged over 16 can save up to £15,240 in an ISA during the 2015/16 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

  • Newcastle BS Big Home Saver Isa (Issue 3) offers a rate of 2.02% AER. Minimum deposit is £1. The ISA can be accessed online, in branch or by post and transfers from other Isas are not permitted.
  • NS&I Direct Isa pays a rate of 1.5% AER on a minimum balance of just £1. The Isa can be opened online or over the phone. Transfers in are not accepted.
  • Virgin Money Defined Access E-Isa pays 1.41% AER on balances over £1. It can be managed online only and transfers in are accepted.
  • If you have a larger amount to transfer, consider the First Direct Cash ISA which offers a rate of 1.5% AER on balances of £30,000+. 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

FOUR YEAR

THREE YEAR

  • State Bank of India Cash Isa Fixed Deposit pays 2.1% AER on minimum investments of £15,000. Accounts can be opened online only. Transfers in are accepted from other Isas.
  • Metro Bank Fixed-Rate Cash Isa pays a rate of 2% AER on minimum balances of £1. Transactions can be made in branch, by post over the phone.
  • Nationwide Fixed-Rate Isa pays savers a rate of 2% AER on investments of £50. Transfers-in are not permitted and the account can be accessed in branch or online.

TWO YEAR

ONE YEAR/18 MONTHS

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