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Top 5 fixed-rate cash ISAs

Top 5 fixed-rate cash ISAs

Category: ISAs

Updated: 26/03/2013
First Published: 26/03/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

As the ISA season heats up, now is the perfect time to find a competitive home for this year's cash ISA allowance.

Allowing up to £5,640 to be invested in the 2012/13 tax year, cash ISAs are the perfect way to earn interest that is kept out of reach of the taxman.

For the 2013/14 tax year (beginning on April 6), up to £5,760 can be invested in a cash ISA.

As an added bonus, all the top five fixed-rate ISAs allow transfers in of previous cash ISA pots. Savers must also remember that in order to make the most of this year's ISA allowance, funds must be deposited by April 5.

Top 1 year fixed rate ISA


Skipton BS
Online 1 Year Fixed Rate ISA
2.10% AER/Gross
  • Minimum investment £500
  • Transfers in accepted
  • Apply online
  • Interest paid on maturity
  • Earlier access on closure only on 180 days' loss of interest.

Penny saysPenny says…
"Skipton BS offers the top rate for those savers looking for a short-term home for their ISA savings.

"Transfers in are accepted, while all management of the account must be conducted online. Savers must remember that early access will be on account closure only and will incur 180 days' loss of interest."

Top 2 year fixed rate ISA


Santander
Major ISA 2 Year Fixed Rate

2.80% AER/Gross
  • Minimum investment £1
  • Transfers in accepted
  • Apply online, by telephone or in branch
  • Interest paid yearly
  • Includes one-off 0.10% bonus paid on maturity if Rory McIlroy wins an eligible golf "Major"

Penny saysPenny says…
"Santander's Major ISA tops the Moneyfacts Best Buy table for 2 year fixed rate cash ISAs.

"Offering a rate of 2.80% on a low minimum investment of £1, this account also has the added incentive of a 0.10% bonus if Rory McIlroy wins an eligible golf Major tournament ."

Top 3 year fixed rate ISA


Halifax
ISA Saver Fixed – 3 Year Bond

3.00% AER/Gross
  • Minimum investment £500
  • Transfers in accepted
  • Apply online, by telephone or in branch
  • Interest paid on anniversary
  • Transfers out or early access will lose 270 days' interest

Penny saysPenny says…
"This medium term cash ISA pays a market-leading rate of 3.00% on a minimum deposit of £500.

"Savers must remember that early access will incur a hefty penalty of 270 days' loss of interest."

Top 4 year fixed rate ISA


Halifax
ISA Saver Fixed – 4 Year Bond

3.05% AER/Gross
  • Minimum investment £500
  • Transfers in accepted
  • Apply online, by telephone or in branch
  • Interest paid on anniversary
  • Transfers out or early access will lose 320 days' interest

Penny saysPenny says…
"Halifax's 4 Year fixed rate ISA pays an inflation-beating 3.05% to those able to commit funds for four years.

"Transfers in are accepted, but savers must bear in mind that early access will cost them dearly, at 320 days' interest."

Top 5 year fixed rate ISA


Halifax
ISA Saver Fixed – 5 Year Bond

3.10% AER/Gross
  • Minimum investment £500
  • Transfers in accepted
  • Apply online, by telephone or in branch
  • Interest paid on anniversary
  • Transfers out or early access will lose 365 days' interest

Penny saysPenny says…
"For savers able to commit funds to a long-term account, Halifax's 5 year fixed rate ISA offers the top inflation-beating rate.

"At 3.10% savers must remember that transfers out or early access will incur the loss of a year's interest."

Information & Rates correct as at: 26/03/2013

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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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