Which? Money provides its weekly look at the best savings deals currently available to help you deposit your cash in the right account.
Best instant access cash Isa accounts on the market
Although interest rates on taxable instant access and fixed term accounts are continuing to fall, rates on cash Isas have fared a little better overall.
Savers can earn 2.30% tax-free in Cheshire Building Society’s instant access Isa Saver while the best ordinary instant access account pays just 1.70% gross (1.36% after basic-rate tax at 20%).
If you haven’t used all of this year’s Isa allowance (£5,760 to 5 April) and you’re searching for a short-term home for your savings, the Cheshire Building Society’s cash Isa account may be the one for you. It’s worth noting that this postal account includes a 1.80% bonus payable to 31 October 2014.
As savings rates are still unpredictable, we highlight the top instant access cash Isa deals for you.
Cheshire BS sits at the top of the instant access cash Isa table this week, paying 2.30%. If you’re starting saving in a cash Isa from scratch and don’t have any previous balances to transfer, the Isas from Nationwide BS and National Savings & Investments (NS&I) currently offer a decent rate, both at 2.25%. Virgin Money are next with its Easy Access Cash Isa and Cash eIsa accounts, paying 2.15% from just £1.
Find more Best Rate products
- Best Rate savings accounts – to find the best instant, notice and one to five-year fixed rate accounts.
- Best Rate cash Isas – to find the best tax-free instant, notice or fixed rate cash Isa deals.
- Best Rate credit cards – to find the best cards to suit your requirements.
- Top unsecured personal loans – for borrowing £10,000 over 5-years or £5,000 over 3-years.
And finally… boost your savings
To find out if your savings account is paying a competitive interest rate, check out the Which? Savings Rate Booster tool and switch your account for a better deal if necessary.