Halifax ISA Saver Online
Open With
£1
Interest Rate
1.05% AER variable inc. 0.80% 12 month bonus
Protection Scheme
FSCS
ISA Transfers In
accepted
NatWest Cash ISA
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
Open With
£1
Interest Rate
1.00% AER variable inc. 0.50% 12 month bonus
Protection Scheme
FSCS
ISA Transfers In
accepted
1.00% tax free/AER variable including 12 month fixed bonus of 0.50%.
RBS Instant Access ISA
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.
Skipton ISA Saver Issue 3
Open With
£1
Interest Rate
1% AER variable
Protection Scheme
FSCS
ISA Transfers In
accepted
Progressive Building Society Clockwork Regular ISA Saver
Open With
£20
Interest Rate
2.75% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
Vernon Regular Saver ISA
Open With
£25
Interest Rate
2.5% AER variable
Protection Scheme
-
ISA Transfers In
not accepted
Available in branch only.
Bank and Clients Cash ISA
Open With
£25
Interest Rate
2.35% AER variable on £20,000+
Protection Scheme
FSCS
ISA Transfers In
not accepted
Melton Mowbray 100 Day Notice Cash ISA
Open With
£25
Interest Rate
2.1% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
Newcastle Build. Soc. Newcastle Big Home Saver ISA Issue 3
Open With
£1
Interest Rate
2.02% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
Al Rayan Bank Notice Cash ISA
Open With
£250
Interest Rate
2% p.a. target gross
Protection Scheme
FSCS
ISA Transfers In
accepted
This account is operated under Islamic finance principles therefore the bank cannot guarantee a rate of return. However IBB has always achieved the expected profit rate offered for its customers.
Buckinghamshire B.S. Chiltern Gold Nuggets Issue 4
Open With
£10
Interest Rate
2% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
Clydesdale Bank Cash ISA 40 Day Notice
Open With
£500
Interest Rate
2% AER variable on £24,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Punjab National Bank (International) Ltd Variable Rate Cash ISA
Open With
£1
Interest Rate
2% AER variable
Protection Scheme
FSCS
ISA Transfers In
accepted
Available in branch only.
Yorkshire Bank Cash ISA 40 Day Notice
Open With
£500
Interest Rate
2% AER variable on £24,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Danske Bank Cash ISA
Open With
£1
Interest Rate
1.75% AER variable on £30,000+
Protection Scheme
FSCS
ISA Transfers In
accepted
Progressive Building Society Cash ISA (Issue 2)
Open With
£10
Interest Rate
1.75% AER variable on £30,000+
Protection Scheme
FSCS
ISA Transfers In
not accepted
Hanley Economic Building Society Cash ISA Regular Saver
Open With
£20
Interest Rate
1.7% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
Hinckley & Rugby Building Society 120 Day Notice Cash ISA Issue 2
Open With
£500
Interest Rate
1.6% AER variable
Protection Scheme
FSCS
ISA Transfers In
not accepted
HSBC Loyalty Cash ISA - Premier Ex/C
Open With
£1
Interest Rate
1.6% AER variable
Protection Scheme
FSCS
ISA Transfers In
accepted

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Free Brochures & Guides

How to Choose the Best Instant Access Cash ISAs

by Hannah from money.co.uk

An instant access cash ISA is simply a tax free savings account that allows you to access your money whenever you please. Here's how to find the account that's right for your savings.

Female accountant at desk with calculator

Instant access Cash ISAs are the simplest and most widely used type of cash ISA and, unlike fixed rate ISAs where the cash must remain in the account for a fixed timeframe, you are free to withdraw the funds any time you choose at little or no charge.

The downside is that the interest rates do tend to be slightly lower in general than fixed rate cash ISAs but, providing you choose the best easy access cash ISA you can find and keep an eye on the interest rate, you'll still be able to secure a good return - particularly as you won't pay any tax on the interest you earn.

Anyone aged 16 years and over can open an instant access cash ISA and for the 2014/2015 tax year, the maximum amount you can save in instant access cash ISAs is 5,940, and as of July 1st the collective allowance has increased to 15,000.

Finding the best interest rates

Instant access cash ISA rates vary between ISA providers. If you are looking for the best instant access cash ISAs, it follows that the providers offering easy access cash ISA best rates should be at the top of your list.

But be prepared to earn less interest than you would if your money was in a fixed rate cash ISA. ISA providers must factor the 'risk' of discretionary withdrawal hence the lower interest rate available on cash instant access cash ISAs.

The interest you earn does not necessarily have to be paid into your instant access cash ISA account. Some providers give you the option of having interest paid into a current account or any other account you specify with the only limit often being that the account is also held in the same institution.

Comparing instant access cash ISAs

When you compare instant access cash ISAs you'll need to check the details of each carefully. Some providers may quote an attractive rate for their instant access cash ISAs. But on further scrutiny, you may find that the rate includes a 'bonus' interest only applicable to the first year.

While this is fine as it does give you some reassurance of the minimum that your money will be earning, it does mean that you'll need to move your money to a different home after 12 months - although this is often necessary regardless of any bonus.

Variable interest rates

Remember that the interest rate paid on instant access cash ISAs is almost always variable - even when there's a bonus. So, to ensure you continue to benefit from the best rates you should carry out an instant access cash ISA comparison on a regular basis to see how your account compares to the others currently available.

The benefit of an instant access cash ISA is that you can move your money to a different account whenever you choose.

Not all ISA providers will allow you to transfer money held in other cash ISAs to the instant access cash ISA you have opened with them. If this is something you want to do then you'll need to choose a cash ISA that explicitly allows transfers in - this is something you can check in our Cash ISA comparison table.