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Product focus: Cash ISA accounts

Product focus: Cash ISA accounts

Category: Savings

Updated: 24/05/2010
First Published: 24/05/2010

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 It is now over 6 months old so the content may be out of date.

A host of providers include introductory bonuses on their savings accounts and cash ISA accounts as a way to boost both the initial rate and therefore consumer interest. However, with the majority of bonuses tending to expire after twelve months, it is imperative that savers review their savings account options to avoid the disappointment of reverting to a much lower rate. Here is a selection of the current best cash ISA accounts which include an introductory bonus.

Barclays Bank – Golden ISA Issue 2

The Golden ISA Issue 2 account pays a monthly rate of 3.06pc including a bonus of 1.00pc for twelve months. Savers can invest a minimum of just £1, but transfers in are not allowed. Funds can be accessed instantly without notice or penalty, while the account is available to savers aged 16 and over and can be operated in branch, by telephone or online. A Barclays current account must be held to operate the account online or by telephone.

ING Direct (UK) – ING Direct Cash ISA

This cash ISA account pays 2.96pc each month, including a bonus of 1.96pc for twelve months. Savers can invest a minimum deposit of £1. No notice is required to access funds, although all withdrawals must be via a nominated account or transferred to an ING savings account. Transfers in are not accepted. The account can be operated by savers aged 18 and over by telephone or online.

Nationwide Building Society – Champion ISA

The Champion ISA pays 2.80pc including a 1.35pc bonus until 30 June 2011. A minimum deposit of £1,000 is allowed. Each month the average branch based account rate of the five key competitors of Nationwide Building Society becomes this product's core interest rate. If the balance drops below £1,000, a rate of 0.10pc is paid and no bonus is applied. One notice and penalty free withdrawal is allowed each year, after which 60 days notice will apply. Early access is allowed, subject to 60 days loss of interest, while transfers in are allowed too. The account is available to savers aged 16 and over and can be operated in branch or online.

More of the best selling cash ISA accounts, including offerings from Birmingham Midshires and Saga, can be found in our cash ISA best buy chart.


Find the best savings account for you - Compare cash ISAs

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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