Cash Isa deals of the week 10 September 2015Top savings rates of the week

10 September 2015

Line of piggy banks

Which? Money provides our weekly roundup of the best cash Isa deals on the market to help you invest your tax-free allowance for 2015/2016.

Cash Isa allowance for 2015/2016

Each year you can deposit your savings into a cash or stocks and shares Isa, or both. The overall limit for the 2015/16 tax year, for both cash and stocks and shares, is £15,240.

In his 2015 Budget, Chancellor George Osborne announced that savers will be able to take out and put money back into their cash Isa without it counting towards their annual tax-free Isa entitlement for that tax year. These changes will be introduced in autumn 2015.

To maximise your tax-free allowance, remember to save in a cash Isa before putting your money in an ordinary taxable savings account.

Here, we take a look at some of the best cash Isa rates on the market. If you're keen to find out more about any of the deals, we've also included links to Which? Money Compare, where you'll find more details about each Isa.

Best-rate cash Isas

We have excluded Isas with certain qualifying conditions and restrictions on withdrawals.

Instant-access cash Isa 

The top rate meeting our criteria is from Punjab National Bank, offering 1.65% AER. Isas from Punjab National Bank must be opened in branch. Click here for more information on this Isa. 

The instant-access Isa from National Savings & Investments (NS&I) is next in our table, paying 1.50% AER.

Notice cash Isa

Notice cash Isa accounts once paid a higher rate for locking up your money than instant-access Isas, but at the moment there aren't any notice Isa accounts paying more than the top instant-access cash Isa rate.

Dudley Building Society's 30 Day Isa tops the table, paying 1.45% AER on balances between £100 and £500,000. Click here for more information about this Isa. 

Beverley Building Society's 30 Day Isa offers the next best rates in our table, paying between 1.30% and 1.40% AER depending on your balance.

One-year fixed-rate cash Isa

Currently topping the one-year fixed-rate cash Isa tables is Al Rayan Bank, paying 1.90% AER. However, the rate from Al Rayan Bank is an 'expected profit rate' from its sharia-compliant investments, so returns are not guaranteed. Click here for more information about the Al Rayan Bank Isa. 

Shawbrook Bank offers the next best rate in our table, at 1.85% AER. 

Two-year fixed-rate cash Isa

Virgin Money tops this table, paying 2.06% AER. Click here for more information about this Isa. 

Coventry Building Society offers the next best rate in our table, at 2.05% AER. Halifax, Julian Hodge Bank, Principality Building Society, Shawbrook Bank and Skipton Building Society offer the next best rates in our table, all at 2.00% AER.

Three-year fixed-rate cash Isa 

Leeds Building Society and Punjab National Bank offer the best rates in our table in this category, both paying 2.30% AER. Click here for the three-year fixed-rate Isa from Leeds Building Society or click here to find out more about Punjab National Bank's Isa.

Virgin Money offers the next best rate in our table, paying 2.25% AER from initial deposits of just £1.

Four-year fixed-rate cash Isa 

Punjab National Bank's four-year cash Isa tops this table, paying 2.35% AER. Click here to find out more about this Isa.

Julian Hodge Bank offers the next best rate in our table, paying 2.15% AER. This account can only be opened and operated by post.

Five-year fixed-rate cash Isa 

Julian Hodge Bank's rate of 2.55% AER comes top of our five-year fixed-rate table. More information can be found here.

Virgin Money offers the next best rate in our table, paying 2.51% AER from initial deposits of just £1.

Which? Money Compare table: Fixed-rate cash Isas - compare hundreds of deals

Help to Buy Isa - first-time buyers

On 1 December 2015 the new Help to Buy Isa will be launched, with the aim of helping would-be first-time buyers save a deposit for their first home.

You can't contribute to a cash Isa in the same tax year as a Help to Buy Isa. Therefore, if you want to open a Help to Buy Isa in the 2015/2016 tax year, make sure you don't add any money to a cash Isa in this tax year. 

The Which? Money Compare tables let you search hundreds of savings accounts and cash Isa deals from providers large and small so that you can find a good home for your nest egg. We also combine this with our unique customer scores that show you how well the providers featured are likely to treat you in the long run.

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