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Product focus: ISA transfers

Product focus: ISA transfers

Category: Savings

Updated: 19/12/2012
First Published: 22/03/2010

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 It is now over 6 months old so the content may be out of date.

If savers had taken full advantage of their ISA and previous TESSA allowances they could have saved more than £60,000 to date. With such significant sums involved it comes as no surprise that the number of accounts accepting transfers in has jumped from 74pc to 90pc in the last five years. Here are some of the most competitive deals accepting transfers in.

Newcastle Building Society – Reward Saver ISA

The highest variable rate on the market accepting transfers in comes from Newcastle Building Society, whose Reward Saver ISA is currently paying 3.00pc, including a 1.00pc bonus for 12 months. Savers can invest upwards of £500 into the ISA, or opt to split the money with other ISAs in Newcastle Building Society's range. If access is required during the term then savers must either give 120 days' notice, or lose 120 days' interest for earlier access.

Halifax – Fixed Rate ISA Saver

If savers are looking to fix the rate they receive then they might like to consider the Fixed Rate ISA Saver from Halifax. The branch operated account has a two year term and pays 3.50pc. Savers can invest from £500 into the account, but once opened further additions are not permitted. Access to funds during the term is available on closure only, subject to 30 days' notice and a loss of 180 days' interest.

Post Office – Fixed Rate Cash ISA

Savers looking to tie their money up for just one year are being offered a rate of 3.00pc from the Post Office. Savers can invest from £500 into the account, but further additions are not permitted after the initial investment. Access to funds during the one year term is permitted, but will be subject to a loss of 90 days' interest.

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 Any products featured may be withdrawn by their provider or changed at any time.