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Product focus: Cash ISAs

Product focus: Cash ISAs

Category: Savings

Updated: 01/02/2010
First Published: 01/02/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

There are just over two months to go until the annual cash ISA allowance is raised from £3,600 to £5,100. Savers looking for the best account have plenty to choose from at the moment, with a variety of providers offering reasonable products. Here are the current top three cash ISAs for savers who wish to access cash without giving advance notice.

Standard Life Cash Savings – Cash ISA Direct Access

This account pays a rate of 2.65pc on its anniversary. A monthly interest option is available at 2.61pc. A minimum deposit of just £1 is required. No notice is needed to access funds, although further additions can be made while the issue is open. All transactions must be made by BACS. Interest must be compounded. The account can be operated by savers aged 16 and over by telephone or online.

Barclays Bank – Golden ISA

The Golden ISA account pays a monthly rate of 2.55pc. Interest is paid on the first working day of the month. Savers must make a minimum deposit of £1. Funds can be accessed instantly. The account can be operated in branch or by telephone, although existing Barclays Bank current account customers can apply online or by telephone. Savers must be aged 16 and over.

Marks & Spencer Money – Advantage Cash ISA

This account pays a rate of 2.50pc including a 1.00pc bonus until 21st July 2010. A minimum deposit of £10 is required, although monthly payments made by direct debit require a minimum deposit is £25. Customers can split their full ISA allowance between the Marks & Spencer Money Fixed Rate Options and the variable Cash ISA. Funds can be accessed without advance notice and withdrawals can be made via BACS to a nominated account. The account can be operated by post and telephone by savers aged 16 and over, although it can be opened online.
Find the best savings accounts for you - Compare cash ISAs

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 Any products featured may be withdrawn by their provider or changed at any time.