Best ISA Rates - Best Cash ISAs 2017 | moneyfacts.co.uk

Best Cash ISA Rates

  - Find a home for your 2017-18 cash ISA allowance. Compare the best cash ISA rates using our independent Best Buys and whole market search.
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Compare the Best Cash ISA Rates

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AERNotice / TermMin InvestTransfer InAccount OpeningSearch all
1631 accounts
 
 Fixed Rate ISAs 

1.23%
2 Year Bond£500Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.20%
2 Year Bond£1000Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.15%
expected rate
12 Month Bond£1000Yes
  1. Yes
  2. Yes
  3. Yes
  4. Yes
Details...
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1.13%
1 Year Bond£500Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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 Variable Rate ISAs 

1.21%
expected rate
120 Day£250Yes
  1. Yes
  2. Yes
  3. Yes
  4. Yes
Details...
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1.01%
Inc 0.81% bonus for 12 months
None£100Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.28%
3 Year Bond£500Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.25%
3 Year Bond£1000Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.15%
3 Year Bond£500Yes
  1. No
  2. Yes
  3. Yes
  4. No
Details...
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1.10%
2 Year Bond£1Yes
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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1.00%
1 Year Bond£1000Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.00%
2 Year Bond£500Yes
  1. No
  2. Yes
  3. Yes
  4. No
Details...
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0.85%
1 Year Bond£500Yes
  1. No
  2. Yes
  3. Yes
  4. No
Details...
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0.75%
1 Year Bond£1Yes
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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0.80%
30 Day£1000Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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0.75%
Instant£1Yes
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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0.50%
Instant£1Yes
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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0.50%
Instant£1No
  1. No
  2. Yes
  3. Yes
  4. No
Details...
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Last Updated: Monday 26 June 2017 09:26

Our team of experts have chosen those ISAs they believe to be Best Buys. A selection of those, for which we have arranged links are shown above, whilst products shown with a yellow background are sponsored products.

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 

Find the Best Cash ISA

Find the best ISA rates for this tax year by comparing the ISA rates in our best buy tables:

How do cash ISAs work?

Interest you earn from a traditional savings account may be subject to income tax. Depending on how much savings interest you earn, up to 45% of any interest you earn may be taxable!

But, cash ISAs are different...

ISA is short for Individual Savings Account. The general principle is this: unlike normal savings accounts or investments, all interest earned from a cash ISA is completely tax-free.

If you earn over £1,000 in interest on other savings, the higher the rate of tax you pay, the more beneficial your cash ISA interest rates will be compared with a normal savings account. This table shows the rates you'd need to match a cash ISA with a non-ISA savings account:

Gross rate needed from a normal savings account
Cash ISA Gross Rate Basic Rate Taxpayer (20%) Higher Rate Taxpayer (40%) Additional Rate Taxpayer (45%)
0.75% 0.94% 1.25% 1.36%
1.00% 1.25% 1.67% 1.82%
1.25% 1.56% 2.08% 2.27%
1.50% 1.88% 2.50% 2.73%
2.00% 2.50% 3.34% 3.64%
2.50% 3.13% 4.17% 4.55%

2017-18 ISA Allowance

Cash ISAs can only have a maximum amount paid into them in each tax year, which runs between 6 April and the following 5 April.

In the 2017-18 tax year the ISA allowance is £20,000. You must pay your money in before 5 April 2018 to make the most of your 2017-18 ISA limit, and if you don't use it, you lose it! Tax advantages will depend on your individual circumstances and may change in the future.

WarningIf you also have a stocks & shares ISA, an Innovative Finance ISA or a Lifetime ISA, you may not be able to put this much into your cash ISA. Read our ISA guide to find out more, including the limits for investment ISAs and how you can split your money between different types of ISA.

How to transfer a cash ISA

You can transfer your existing cash ISA without losing the tax-free privileges. The two main reasons you'd do this are to:

  • Get a more competitive interest rate
  • Bring all your cash ISA funds together in one place

Here's how the ISA transfer process works:

  1. Make sure your existing cash ISA doesn't charge any penalties for transferring to a new provider. If it does, weigh up whether the transfer will be in your interest.
  2. Research the best ISA rates.
  3. Find a new cash ISA that accepts “transfers in”. Note: you can only open one new cash ISA per tax year.
  4. Tell your new cash ISA provider that you wish to transfer an ISA and they will give you a transfer form.
  5. Complete the form and return it to your new provider.
  6. Your new ISA provider will go back to your old bank or building society to get the money transferred.

Under current rules, this entire process should take no longer than 15 working days.

WarningDon't bypass this process by withdrawing your cash from your old ISA and putting it into a new one. If you withdraw cash from an ISA it loses its tax-free treatment. Plus, depending on the size of your savings pot, you may not be able to put all of your money into the new cash ISA if it exceeds your annual ISA allowance.

What next?

Compare the best ISA rates with our independent and unbiased Best Buys:

Our ISA Best Buys include those which allow you to transfer to a new ISA provider; just refer to the column "transfer in".

Find all the best cash ISAs with our saving search

Download your free guide to ISAs

 
 
 
Also try Moneyfacts Best Buys
First cash Lifetime ISA set to be launched
First cash Lifetime ISA set to be launched

It’s been announced that Skipton Building Society will launch the UK’s first cash Lifetime ISA (LISA... More

First-timers find Help to Buy ISAs less helpful
First-timers find Help to Buy ISAs less helpful

More first-time buyers may be getting on the ladder, but there's still the daunting task of saving a... More

Number of cash ISAs available hits five-year high
Number of cash ISAs available hits five-year high

The ISA market has been in the doldrums for some time, but thankfully, it looks as though there’s so... More

Concerns that too many are saving in cash ISAs
Concerns that too many are saving in cash ISAs

Cash remains king for many savers, but there are growing concerns that this preference could mean th... More

One month on from the Lifetime ISA
One month on from the Lifetime ISA

It’s now been four weeks since the Lifetime ISA was officially launched, but have savers embraced i... More

What is a cash ISA?
What is a cash ISA?

Cash ISAs are a special type of savings account that pay interest tax-free. Each tax year you get an... More

2017-18 ISA Allowance Guide
2017-18 ISA Allowance Guide

Download your FREE Guide to ISA allowances for the 2015-16 tax year. Find out everything you need t... More

How to transfer a cash ISA
How to transfer a cash ISA

Cash ISA transfers can allow you to get a better interest rate and bring your ISAs together in one p... More

New 4yr ISA enters top-3
New 4yr ISA enters top-3

Clydesdale Bank has launched a new four-year fixed rate cash ISA, which has entered the top-three of... More

Tesco’s variable ISA rate increased
Tesco’s variable ISA rate increased

Tesco Bank has increased the rate on its variable rate cash ISA by 0.47%, which has made it worthy o... More

Leeds’ 1yr ISA rate increased
Leeds’ 1yr ISA rate increased

Leeds BS has updated its fixed savings range and increased its one-year fixed ISA rate by 0.06%, whi... More

Variable ISA still competes
Variable ISA still competes

Coventry BS has decreased the rate on its variable rate cash ISA, yet despite this it has remained c... More

Furness’ Excellent 1 & 2yr ISAs
Furness’ Excellent 1 & 2yr ISAs

Furness BS has increased selected rates by up to 0.20%, which sees its one and two-year ISAs enter t... More

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