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Product focus: Cash ISAs

Product focus: Cash ISAs

Category: Savings

Updated: 22/09/2011
First Published: 12/01/2011

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 It is now over 6 months old so the content may be out of date.

Normally, a slice of any interest you earn from a savings account goes straight to the taxman, but interest earned on ISAs is tax-free. Savers can currently invest £5,100 per annum in a Cash ISA tax free and from April the limit will rise each year in line with inflation. Savers who have invested their annual allowance in Cash ISAs since their introduction in 1999 could have more than £70,000 saved tax-free, so its worth making the most of your allowance.

Santander - Direct ISA issue 6

Savers transferring at least £9,000 into the Direct ISA will be paid a rate of:

  • 2.75% including an introductory bonus rate of 2.25% variable for 12 months.
  • Savers investing under £9,000 will be paid a rate of 2% yearly including an introductory bonus rate of 1.50% variable for 12 months.
  • The account comes with a cash card, so savers can get instant access to their money if they want to make a withdrawal.

Halifax– Cash ISA Direct Reward

Halifax is currently paying a rate of:

  • 2.80% on it Cash ISA Direct Reward account. The rate includes a 2.30% bonus for 12 months.
  • New and existing current account customers receive an additional 0.20% bonus taking the rate to a market leading 3.00%.
  • Savers can invest from as little as £1 into the account, which accepts transfer in.
  • No notice is required to make a withdrawal, giving savers easy access to funds of required.

Nationwide – eISA

This ISA from Nationwide is available to existing card account holders and pays:

  • 2.80% yearly including an introductory bonus rate of 1.05% until 31/12/2011.
  • Savers can invest upwards of a £1 into the account, which accepts transfers in.
  • The account is operated online and requires no notice to make a withdrawal.

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 Any products featured may be withdrawn by their provider or changed at any time.