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Product focus: Cash ISAs

Product focus: Cash ISAs

Category: Savings

Updated: 07/01/2011
First Published: 25/10/2010

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 It is now over 6 months old so the content may be out of date.

Introductory bonuses are often used by providers to boost an account's initial rate. It is important to remember, however, that the bonus counts for a large part of the overall rate and only runs for a limited period. It is best to make a note of when the bonus is due to expire to allow adequate time for reviewing savings options, transferring funds and to avoid the risk of reverting to a much lower rate. Here is a selection of the Best Cash ISA rates which include an introductory bonus.

Santander – Flexible ISA Issue 3

  • This account from Santander pays an annual rate of 2.85% including a bonus of 2.35% variable for twelve months.
  • The rate is guaranteed to be at least 2.35% above base rate and with a minimum rate of 2.85% for the first twelve months. Savers are required to make a minimum deposit of £1, but transfers in are not accepted.
  • Funds can be accessed immediately without advance notice. The account can be operated by savers aged 16 and over in branch, by telephone and online.

Halifax– Cash ISA Direct Reward

  • This account pays an annual rate of 2.80% including a bonus of 2.30% for twelve months.
  • After twelve months, or if the balance drops below £1 in the meantime, the rate will revert to the ISA Saver Direct rate (currently 0.50%) and terms.
  • A minimum deposit of £1 is required, while transfers in are accepted. Funds can be accessed immediately without advance notice.
  • The account is available to savers aged 16 and over and can be operated by telephone or online.

Nationwide Building Society – Champion ISA

  • The Champion ISA pays an annual rate of 2.78% including 1.35% bonus until 30 June 2011.
  • The underlying gross rate is guaranteed to be the average of the top five cash ISAs listed as Moneyfacts best buys. The minimum investment required is £1,000 and if the balance falls below £1,000, 0.25% will be paid and no bonus will apply.
  • One notice and penalty free withdrawal is permitted per tax year, with all subsequent withdrawals requiring advance notice of 60 days and early access being subject to 60 days loss of interest.
  • Transfers in are accepted, with the account being available to savers aged 16 and over and able to be operated in branch or online.

Find the best savings rates for you - Compare savings accounts

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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