Product focus: ISAs - Savings - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Product focus: ISAs

Product focus: ISAs

Category: Savings

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

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 It is now over 6 months old so the content may be out of date.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

Request a FREE ISA Savings brochure now

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.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.