Best cash ISA rates this week

Last updated: Nov 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

  • BM Savings Isa Extra (Issue 11) pays a rate of 1.55% AER on a minimum balance of just £1, this includes a bonus of 1.05% bonus for the first 12 months. The Isa can be opened online, by post or over the phone. Transfers in are accepted.
  • Post Office Premier Cash Isa (Issue 7) pays 1.55% AER on balances over £100, however this includes a 0.8% bonus for 18 months. It can be managed in branch or by post. Transfers from other Isas are accepted.
  • NS&I Direct Isa offers a rate of 1.5% AER. Minimum deposits is £1. The ISA can be accessed online or over the phone and transfers from other Isas are not permitted.
  • 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 £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

  • Virgin Money Fixed-Rate Cash E-Isa (Issue 99) offers a rate of 2.5% AER on minimum investments of £500. The ISA can be accessed online, by post or in branch. Transfers in from other providers are accepted.
  • Julian Hodge Bank Fixed Isa pays 2.5% AER on minimum balances of £5,000. The ISA can be managed in branch or by post. Transfers in are accepted.
  • Newcastle BS Fixed-Rate Isa (Issue 1) offers a rate of 2.4% AER on minimum investments of £500. The Isa can be accessed online, in branch, by post or over the phone. Transfers in from other Isas are accepted.

FOUR YEAR

THREE YEAR

TWO YEAR

ONE YEAR/18 MONTHS

  • Julian Hodge Bank Fixed-Rate Isa offers 1.75% AER. The account can be opened with £5,000 and it can be managed in branch or by post. Transfers are accepted from other cash ISA providers.
  • Post Office Fixed-Rate Cash Isa (Issue 13) pays a rate of 1.7% AER on minimum balances of £500. Transfers in are allowed. Transactions can be made by post or in branch.
  • 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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