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Product focus: ISAs

Product focus: ISAs

Category: Savings

Updated: 25/01/2011
First Published: 21/01/2011

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 It is now over 6 months old so the content may be out of date.

Individual Savings Accounts, also known as ISAs, are a popular choice among savers mainly because of their tax free element.

With the official ISA season just a few months away, it may be wise to begin checking out the market for suitable products. Here is a selection of the current best cash isa products offered by well-known high street providers.

Santander – Flexible ISA Issue 3

This account pays an annual rate of:

  • 2.85% including a bonus of 2.35% variable for 12 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 12 months.
  • Minimum investment is just £1.
  • Funds can be accessed without advance notice or penalty. Transfers in are not accepted.
  • The account can be operated in branch, by telephone or online by savers aged 16 and over.

Northern Rock – ISA Saver

Northern Rock's ISA Saver pays an annual rate of:

  • 2.80% including a bonus of 1.50% for 12 months.
  • The underlying gross rate is guaranteed to be at least equal to 0.25% above bank base rate until 31st December 2012.
  • Savers can invest a minimum of £1,000. Advance notice of 120 days is required to access funds, although early access is allowed subject to 120 days loss of interest.
  • Minimum withdrawal amount is £250. Transfers in are accepted.
  • The account is available to savers aged 16 and over and can be operated in branch and by post.

Halifax – Cash ISA Direct Reward

This account pays an annual rate of:

  • 2.80% including a bonus of 2.30% for 12 months.
  • A minimum deposit of £1 is required. If the balance drops below £1, the ISA Saver Direct rate will be paid.
  • The initial rate reverts to the ISA Saver Direct account's rate (currently 0.50%) and terms after 12 months.
  • No advance notice is needed to access funds. Transfers in are accepted.
  • The account can be operated by savers aged 16 and over by telephone or online.

Looking for a cash isa - Compare cash isa rates and best isa rates for transfers

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 Any products featured may be withdrawn by their provider or changed at any time.

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