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Icesave score a best buy hat-trick

Today sees Icesave launch into the ISA market with yet another market leading product. The Icesave Easy Access ISA fits the same mould as their other savings accounts, it’s simple, straightforward and pays a very competitive return. Savers really do get what they see when it comes to Icesave products.

The new ISA is a no notice internet operated account, paying 6.10% yearly (5.94% monthly), requiring a minimum deposit of £1K. The AER is guaranteed to be at least 0.30% above base rate until 31.1.11 and then at least equal to base rate until 31.1.13. Unusually with best buy ISA products, it also accepts transfers in.

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Icesave regularly features in the best buys for its Internet Easy Access and Fixed Rate Savings accounts, making this best buy ISA a 100% record, scoring them a hat-trick of best buy accounts.

Some savers may be put off by the minimum initial investment required by Icesave. If this is the case then Kent Reliance BS, Egg and Principality offer ISA accounts paying 6.05% starting from £1.

Exclusive analysis from Moneyfacts.co.uk reveals that over the last 18 months, NS&I’s Direct ISA would have provided the best return, while over the last three years Yorkshire BS’s e-ISA came out tops. So while looking for the best current savings rate is important, it’s worth seeing which savings account providers have treated their savers fairly in the past, with a consistent competitive return.

Especially near the start of the new tax year and for a short time after, there will be some tempting deals launched. If you have not used your 2007 allowance, and with only 12 weeks left of the current tax year left, you need to act quickly and use it before you lose it.

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