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Product focus: Cash ISAs

Product focus: Cash ISAs

Category: Savings

Updated: 13/09/2010
First Published: 13/09/2010

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 It is now over 6 months old so the content may be out of date.

Savers who are looking for a tax free investment can choose from a host of cash ISA products offering introductory bonuses. It is important to remember, however, that bonuses usually only run for a limited period and the rate will drop considerably once the bonus period expires. Here is a selection of the current best cash ISAs which include an introductory bonus.

Principality Building Society – e-ISA Issue 2

This cash ISA pays an annual rate of 2.80% including a bonus of 1.00% for twelve months. Savers can invest a minimum deposit of just £1. No advance notice is required to access funds, although all withdrawals must be made via a nominated account. Transfers in are allowed. The account is available to savers aged 16 and over and can be operated online only.

Newcastle Building Society – Reward Saver ISA

This cash ISA pays 2.75% on its anniversary including a bonus of 1.00% for twelve months. A minimum investment of £500 is required. Savers must give 120 days notice to access funds. Early access is allowed, subject to 120 days loss of interest. Transfers in are accepted. Savers can also split funds across multiple ISAs within Newcastle's range. The account is available to savers aged 18 and over and can be operated in branch, by post, telephone or online.

Birmingham Midshires – ISA Extra

The ISA Extra account pays 2.70% on its anniversary including a 1.00% bonus for fifteen months. A monthly interest option is available at 2.67% including a bonus of 0.98% for fifteen months. Savers can invest a minimum of £500. Interest is paid after one year, then again when the fifteen month period expires, then annually afterwards. Transfers in are allowed. No notice is required to access funds, although all withdrawals must be made by cheque. The account can be operated by post by savers aged 16 and over.

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 Any products featured may be withdrawn by their provider or changed at any time.

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