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Product focus: Cash ISAs

Product focus: Cash ISAs

Category: Savings

Updated: 17/12/2012
First Published: 03/02/2011

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 It is now over 6 months old so the content may be out of date.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 end of another tax year nears, we are already seeing some providers gearing up for the impending ISA season.

Once again providers will be fighting to attract savers' tax free allowances. The one year fixed rate ISA market is always one of the most competitive areas as many ISA savers prefer to invest their money in a short term account.

Here are a selection of some of the best one year fixed rate cash ISAs:

Bank of Cyprus UK – Cash ISA Bond 24th Issue

  • Bank of Cyprus UK is paying a market-leading rate of 3.10% on its Cash ISA Bond. Savers can invest upwards of £1 into the ISA, which accepts transfers in.
  • Access during the year-long term is available on closure only and will be subject to a loss of 180 days' interest.
  • The bond is operated by branch, telephone, post or online, making it easily accessible to all savers.

Northern Rock – Fixed Rate Cash ISA

  • The postal-operated Fixed Rate Cash ISA from Northern Rock is paying 3.05%.
  • Savers can invest upwards of £500 into the account, which accepts transfers in.
  • Further additions can be made into the account for the first 30 days after the issue has closed.
  • The ISA matures on 15 February 2012.
  • Earlier access is allowed, but will be subject to a loss of 60 days' interest.

Marks & Spencer Money – Fixed Rate Saving Option Cash ISA

  • Marks & Spencer Money is paying a rate of 3.00% on its Fixed Rate Saving Option Cash ISA. Savers can invest upwards of £500 into the ISA, which accepts transfers in.
  • The account is operated by post or telephone.
  • Once opened, earlier access is allowed on closure only.
  • However, Marks & Spencer Money does allow savers to split their ISA investment between its fixed and variable rate cash ISAs, allowing savers to maintain access to part of their money penalty free if required.
Find the best savings account for you – View our fixed rate isa best buy table

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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 Any products featured may be withdrawn by their provider or changed at any time.

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