ISAs may be bearing the brunt of rate cuts at the moment, but with the savings market as a whole being lacklustre, these accounts remain a viable place to put your cash - even with the personal savings allowance in full swing. But just what kind of ISA do you want?
Opting for fixed rate ISAs is all well and good, but sometimes you want to keep your cash accessible. Variable rate ISAs can offer that kind of flexibility - you're not tied into a fixed rate deal but instead have the freedom to add to your savings pot and access your cash should you wish, ensuring you don't have to keep your money locked away for too long.
It's worth bearing in mind that if you want the best rates you'll often have to give a bit of notice to make that all-important withdrawal, but that could be a small price to pay for such a good return. You'll also find that the providers offering the best rates tend to be building societies or challenger banks, but don't let that put you off! Challenger banks are easily beating high street names in terms of savings rates, so why not give them a go?
To help you decide, we've outlined the top six variable cash ISAs currently available. Some of them offer instant access, whereas others require a bit of notice to withdraw your cash, but either way, you won't have to wait long to get your hands on your money.
Taking the top spot is this deal from Al Rayan Bank, paying an indicative profit rate of 1.55% AER to those willing to give 120 days' notice to access their funds. This account welcomes further additions at any time and permits unlimited withdrawals, subject to the required notice period being given, and can be managed via all channels for the height of flexibility.
In second place is this account from Bank and Clients, a relative newcomer to the savings landscape, which pays 1.50% from a minimum investment of £1,000. Further additions are welcome at any time and unlimited withdrawals are also permitted, subject to 90 days' notice being given.
Securing a top-three position is this deal from Yorkshire Bank, a notice account that permits unlimited further additions and withdrawals - subject to 40 days' notice being given - while early access can be arranged on 40 days' loss of interest. It should be noted that the headline rate will only be paid on balances of £15,000 and above, but with an even higher rate available for balances of £30,000+, it could be a great option for those who are able to invest the full ISA allowance each year.
Mirroring the previous deal is this offer from Clydesdale Bank, another 40-day notice account that comes with the same conditions as its Yorkshire Bank counterpart.
Sitting comfortably in the top five is this deal from Buckinghamshire BS, a notice account that pays interest monthly, making it ideal for those who are looking to supplement their income. It permits unlimited further additions and withdrawals, although savers should note that 180 days' notice must always be served for the latter, as early access is not an option.
Just squeezing into the top six is this instant access deal from Coventry BS, the only account on this list to offer true easy access. It's an entirely restriction-free account that offers the height of flexibility - unlimited withdrawals and further additions are permitted, as are penalty-free transfers away from the account, all from a minimum investment of just £1. It can be managed via all key channels, too, giving savers easy access from every angle.
Information & Rates correct as at: 05.07.2016
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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