This comparison includes all cash ISAs.
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Aldermore 3 Year Fixed Rate Cash ISA
Term
3 years
Open With
£1,000
Interest Rate
1.85% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
Halifax 5 Year ISA Saver Fixed
Term
5 years
Open With
£500
Interest Rate
1.8% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
No withdrawals allowed except on early closure subject to the loss of 365 days tax-free interest.
Aldermore 2 Year Fixed Rate Cash ISA
Term
2 years
Open With
£1,000
Interest Rate
1.75% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
Halifax 3 Year ISA Saver Fixed
Term
3 years
Open With
£500
Interest Rate
1.6% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
No withdrawals allowed except on early closure subject to the loss of 270 days tax-free interest.
Halifax 2 Year ISA Saver Fixed
Term
2 years
Open With
£500
Interest Rate
1.5% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
No withdrawals allowed except on early closure subject to the loss of 180 days tax-free interest.
NatWest 2 Year Fixed Rate ISA Issue 127
Term
13 Jul 2017
Open With
£1,000
Interest Rate
1.5% AER fixed on £25,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Interest will be paid at the rate of 1.50% AER/Gross (fixed) p.a. until the Fixed Rate ISA maturity date - 18th May 2017.
RBS 2 Year Fixed Rate ISA Issue 127
Term
13 Jul 2017
Open With
£1,000
Interest Rate
1.5% AER fixed on £25,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Interest will be paid at the rate of 1.50% AER/Gross (fixed) p.a. until the Fixed Rate ISA maturity date - 18th May 2017.
Sainsbury's Bank Cash ISA
Term
Instant Access
Open With
£500
Interest Rate
1.35% AER variable
Protection Scheme
FSCS
ISA Transfers In
accepted
Halifax 18 Month ISA Saver Fixed
Term
18 months
Open With
£500
Interest Rate
1.3% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
No withdrawals allowed except on early closure subject to the loss of 135 days tax-free interest.
Aldermore 30 Day Notice Cash ISA (Issue 5)
Term
Notice
Open With
£1,000
Interest Rate
1.25% AER
Protection Scheme
FSCS
ISA Transfers In
accepted
Halifax 1 Year ISA Saver Fixed
Term
1 year
Open With
£500
Interest Rate
1.25% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
No withdrawals allowed except on early closure subject to the loss of 90 days tax-free interest.
NatWest 1 Year Fixed Rate ISA Issue 126
Term
13 Jul 2016
Open With
£1,000
Interest Rate
1.25% AER fixed on £25,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Interest will be paid at the rate of 1.25% AER/Gross (fixed) p.a. until the Fixed Rate ISA maturity date - 18th May 2016.
RBS 1 Year Fixed Rate ISA Issue 126
Term
13 Jul 2016
Open With
£1,000
Interest Rate
1.25% AER fixed on £25,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Interest will be paid at the rate of 1.25% AER/Gross (fixed) p.a. until the Fixed Rate ISA maturity date - 18th May 2016.
NatWest Cash ISA
Term
Instant Access
Open With
£1
Interest Rate
1% AER variable on £25,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Earn tax free interest of up to 1.00% AER (variable) on balances of at least £25,000 and earn up to 0.50% AER (variable) on balances below £25,000.
RBS Instant Access ISA
Term
Instant Access
Open With
£1
Interest Rate
1% AER variable on £25,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Earn tax free interest of up to 1.00% AER (variable) on balances of at least £25,000 and earn up to 0.50% AER (variable) on balances below £25,000.
Halifax ISA Saver Variable
Term
Instant Access
Open With
£1
Interest Rate
0.8% AER variable inc. 0.30% fixed bonus for 12 months
Protection Scheme
FSCS
ISA Transfers In
accepted
0.80% tax free/AER variable including 12 month fixed bonus of 0.30%.
Nottingham Building Society Starter ISA Issue 5
Term
05 Apr 2016
Open With
£10
Interest Rate
3% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
Available in branch only.
Progressive Building Society Clockwork Regular ISA Saver
Term
Regular Saver
Open With
£20
Interest Rate
2.75% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
Punjab National Bank (International) Ltd 5 Year Fixed Rate ISA
Term
5 years
Open With
£1,000
Interest Rate
2.7% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
Available in branch only.
Punjab National Bank (International) Ltd 5 Year Fixed Rate ISA Maturity
Term
5 years
Open With
£1,000
Interest Rate
2.7% AER fixed
Protection Scheme
FSCS
ISA Transfers In
accepted
Available in branch only.

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How to Find the Best Cash ISAs for Over 60s

Whether you are 18 or 80, we all like to put a bit of money aside for a rainy day. Finding an account that pays enough interest to make sure your savings don't devalue is another matter entirely.

An ISA is one of the best ways to put money away without the interest being gobbled up by the taxman. This means your savings are less vulnerable to inflation, which can eat away at your funds over time.

However, as a highly regulated product there are lots of different rules and myriad different ISAs on the market.

If you are looking for a low risk investment, a cash ISA could be the right solution for you. A great way to access tax free savings for over 60s, cash ISAs deliver a guaranteed return with none of the risk associated with stocks and shares ISAs.

We take a look at the best ISAs for over 60s and run through the facts you need to know about this type of account.

How to compare cash ISAs for over 60s

Before you are able to carry out a cash ISAs for over 60s comparison, it's essential to first understand how they work and the rules which apply to the money you put in and take out.

If you are over 60 ISA allowance limits are just the same as anyone else; you have a total ISA allowance but only part of this may be transferred into a cash ISA. The remainder - should you choose to use it - must be ploughed into a stocks and shares ISA, a much riskier type of investment.

The cash ISA allowance for over 60s stands at present at 15,000 (this amount can be divided between cash and investment ISA's or used solely in one).

All of the money you put into a cash ISA for over 65 counts towards your yearly allowance, no matter how much you take out. This means that if you are up to your maximum investment and then make a withdrawal, you will not be able to replace this money until the next financial year.

Also, you can only pay into a single cash ISA in any one tax year which in turn means you can only open one new account from scratch (although existing ISA transfers into a new account are allowed).

What to look for to find the best cash ISA for over 60s

To compare the best cash ISA rates for over 60s, you'll need to think about what you want to invest and for how long. Both of these factors will play a significant role in selecting the best ISA rates.

As a general rule, the longer you can commit to investing the money for, the higher the cash ISA over 60 interest rates will be. This isn't always the case but as a rough guide, instant access or one year ISA accounts don't offer anywhere near the same type of returns as three or five year ISAs.

However, if you can't afford to tie that money up for such a long period then you'll need to adjust your priorities, and your search, accordingly.

Furthermore you shouldn't be fooled by the attention-grabbing initial deposit; although it's true you may be able to open an ISA account with just 1, in order to get the best savings rates for over 60s you will probably need to have a much higher balance.

You will also need to maintain this balance in order to continue to qualify for the interest payments.

Finally, wherever you choose to invest your cash, make sure you are protected in case the worst happens. The provider should ideally be a member of the Financial Services Compensation Scheme which means that you will be guaranteed to get your money back if the bank collapses.

A cash ISA limit over 60 is no good if you stand to lose all your cash in the event of your bank or building society going under.

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