Monmouthshire leads way in top cash Isa rate stakes

9 September 2014

Monmouthshire Building Society has raised the rate on its easy-access Cash Isa 6 to a top 1.65%.

You can put up to £15,000 into the account, but you can't transfer your existing cash Isas into this account unless you have other cash Isas with the society. And the account is only available to those living in its operating area.

Other top deals include BM Savings at 1.55% including a bonus for the first year, which accepts transfers, and National Savings & Investments at 1.5%, which does not.

On fixed-rate deals Yorkshire Building Society and its offshoots Barnsley, Chelsea, and Norwich & Peterborough building societies have launched a three-year deal at a top 2.5%.

Find the best cash Isa or savings account for you

Fixed-rate deals

The best one-year rate is 1.65% from both Tesco Bank and Aldermore Bank, while Barclays, Newcastle Building Society, AA Savings (part of Halifax) and Aldermore Bank all pay 2% fixed for two years.

Looking at taxable accounts, AA Savings easy-access Internet Extra account pays 1.4% before tax (1.12% after) to new savers. The rate is boosted by a 0.9 (0.72) percentage point bonus for a year.

Sainsbury's Bank eSaver Special pays a slightly lower 1.35% (1.08%), but the rate does not include a bonus that runs out after a year.

Newcastle Building Society has launched a two-year fixed rate bond at a top 2.35% (1.88%) fixed until October 2016, while Yorkshire Building Society's new deal pays a best rate of 2.5% (2%) for three years.

Among the top one-year rates are 1.95% (1.56%) from Investec Bank and 1.85% (1.48%) from Kent Reliance.

This article was written for our sister website Money Observer

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