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Product focus: Cash ISAs

Product focus: Cash ISAs

Category: Savings

Updated: 09/03/2011
First Published: 09/03/2011

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 It is now over 6 months old so the content may be out of date.

A large number of cash ISAs include introductory bonuses, designed to boost a product's initial rate. Research from Moneyfacts.co.uk has shown that on average, an introductory bonus constitutes for 56% of a deal's overall rate.

While this may seem appealing, it is important to remember that the bonus only runs for a limited period after-which the rate will revert to a much lower figure. Here is a selection of some of the best cash ISAs with introductory bonuses launched recently.

AA – Internet Access ISA

  • This deal pays 3.35% on its anniversary including an introductory bonus of 1.65% for 12 months.
  • A minimum deposit of £500 is required.
  • No notice is needed to access funds.
  • Transfers in are not permitted.
  • The account can be operated by savers aged 18 and over, online only.

Santander – Flexible ISA Issue 3

  • The Flexible ISA pays an annual rate of 3.30% including a variable 2.80% bonus for 12 months.
  • The rate is guaranteed to be at least 2.80% above base rate and with a minimum rate of 3.30% for the first 12 months.
  • Savers can invest a minimum amount of £1.
  • No advance notice is required to access funds.
  • Transfers in are not accepted.
  • The account can be operated in branch, by telephone or online by savers aged 16 and over.

Barclays Bank – Golden ISA Issue 3

  • This deal from Barclays Bank pays a monthly rate of 3.20% including a 1.00% bonus for 12 months.
  • The rate is guaranteed to follow any change in bank base rate in full until 1.3.12.
  • A minimum investment of just £1 is required and funds can be accessed immediately. Transfers in are not accepted.
  • The account is available to investors aged 16 and over and can be operated in branch.
  • Savers can also operate this account by telephone or online.
  • Please Note: The account can be opened in branch, or online and by telephone for existing Barclays customers. Customers will receive immediate confirmation of their application when opened online. *New to bank customers can only open the account in branch.*

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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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