Cash ISAs: The Best Currently Available List

sparkiemalarkie

StayinAlive said:

dc_scotland said:

The latest Tesco Instant Access ISA issue is now 0.95%.  (The previous issue was 0.75%).
https://www.tescobank.com/savings/isa-accounts/

Historically, do Tesco usually extend the bonus rate (currently 0.70%) or have a new issue which maintains the previous rate?

If you want the new rate you need to open a new account.
That seems to be the usual pattern for all their accounts

sx

AlwaysLearnin

Nationwide 1 year triple access online looks to now be 1%

https://www.nationwide.co.uk/savings/triple-access-online-isa/

refluxer

Aldermore have just increased their Fixed Cash ISA rates and their 1 Year fix @ 1.65% is now top of the table.

Kazza242

Cash ISA rates continue to rise following the Bank of England base rate increases.  

The first post has been updated.

refluxer

There's been some movement this week with a number of Cash ISA providers like Charter and OakNorth increasing their rates, however Virgin now top the table for a one year fix @ 1.7%, which closes the gap on their 1.76% account which is only available to current account holders. 

zxspeccy

Ford money have increased the rate (for the second time this month) on their Flexible Cash ISA from 0.85% to 1.00%. It accepts transfers in and has the option of both monthly or annual interest.

refluxer

Charter have increased their Fixed Cash ISA rates again and now top the table for a 1 year fix @ 1.75%

LeafGreen

refluxer said:

Charter have increased their Fixed Cash ISA rates again and now top the table for a 1 year fix @ 1.75%

Thanks for the head's up... I'm trying to work out when to take the plunge with another fix (max 1 year) - I had a Kent Reliance fix that matured recently, it was going to renew at 1.6% for 2 years but I dropped to their easy access which is now 0.9% to keep my options open.  Don't want to be stuck on that for too long but also aware rates may continue to creep up.  Shame that Cash ISA rates are some way below regular 1yr fix rate accounts.

refluxer

grahamgoo said:

Thanks for the head's up... I'm trying to work out when to take the plunge with another fix (max 1 year) - I had a Kent Reliance fix that matured recently, it was going to renew at 1.6% for 2 years but I dropped to their easy access which is now 0.9% to keep my options open.  Don't want to be stuck on that for too long but also aware rates may continue to creep up.  Shame that Cash ISA rates are some way below regular 1yr fix rate accounts.

Yep, it's a tricky one. Holding out for too long on a 0.9% easy access ISA will undermine the increased rate you might get at some point in the future because it would have been earning nearly double that between now and then if you took out that best one year fix now.

Developing a 'savings ladder' can help to spread things out a bit. You wouldn't be able to do that (open multiple fixed rate ISAs) with this current tax year's subscriptions but, as it sounds like you have an easy access ISA consisting of previous years' subscriptions, I wonder if you you could transfer out smaller chunks into different fixed rate ISAs throughout the year in order to benefit from increasing rates ?

So if you had (for example) £20k in an easy access ISA that was from a previous tax year, you could transfer out in £5k or £10k chunks throughout the year ? It's not something I've ever done myself, so hopefully someone else can advise if I've missed something. This would also depend on the ISA's T&Cs, of course (current ISA would have to allow partial transfer out and new ISA would have to allow transfers in).

It's also definitely worth doing the sums to check that ISAs are still worth it for you, compared to paying tax on a normal savings account.

Kazza242

The rates on cash ISAs have continued to keep rising, which is great news for savers.  

The first post has been updated.