'Best last-minute cash ISA rates'
If you're looking to use your Cash ISA allowance then you're in the right place. However, there's some bad news first: Cash ISA interest rates, like most savings rates, are pretty dire.
The good news is you're now able to save £15,000 this tax year into a Cash ISA.
Below we've picked out the best rates for new Cash ISAs for this tax year.
Free ISA guides
Top instant-access Cash ISAs
The top high street instant-access rate right now is 1.50% available from NS&I, the Post Office and Nationwide (providing you bank with them). The Post Office ISA is different in that it allows you to spread your money between the easy-access ISA paying 1.50% and fixed rates paying more.
Account | Interest rate (AER) | Minimum deposit | Notes |
NS&I Direct ISA | 1.50% | £1 | Transfers and new subscriptions. |
Post Office Premier ISA | 1.50% (0.85% bonus for first 18 months) | £10 | Transfers and new subscriptions. |
Post Office Online ISA | 1.50% (0.85% bonus for first 12 months) | £100 | Transfers and new subscriptions. |
Skipton BS Bonus Cash ISA | 1.50% (0.5% bonus for first 12 months) | £1 | Transfers and new subscriptions. |
Nationwide Flexclusive ISA* | 1.50% | £1 | New subscriptions only. |
Dudley BS Cash ISA 30 | 1.50% | £100 | Transfers and new subscriptions. |
Bath BS Cash ISA | 1.45% | £1 | New subscriptions only. |
Tipton BS Premier ISA | 1.45% | £5,000 | New subscriptions only. |
Market Harborough BS Instant Access | 1.45%^ | £10,000 | New subscriptions only. |
^Lower rates available for smaller deposits
*Must have current account to qualify
Sometimes instant-access accounts come with temporary bonuses. We've got no problem with fixed bonuses. They mean that your interest rate can't fall below a certain level for a set period. That's not the case with a variable rate bonus though.
Just remember that the interest rate on your account will almost certainly crash once the bonus expires.
Top notice Cash ISAs
At the moment giving a little warning before making a withdrawal gets you a much higher interest rate with the top notice ISAs.
Account | Interest rate (AER) | Minimum deposit | Bonus | Notes |
|---|---|---|---|---|
Al Rayan Bank Notice Cash ISA | 2.02%* | £250 | None | Transfers and new subscriptions. |
Hinckley and Rugby BS 120-Day Notice Cash ISA | 1.60% | £500 | None | New subscriptions only. |
Furness ISA 90 | 1.60%^ | £9,001 | None | Transfers and new subscriptions. |
Shawbrook Bank 120 Day Notice Cash ISA Account Issue 3 | 1.55% | £1,000 | None | Transfers and new subscriptions |
*Anticipated profit rate
^Lower rates available for smaller deposits
Top fixed rate ISAs
Moving onto fixed rate ISAs, which lock up your money for a certain period of time.
With the Bank of England indicating that interest rates aren't likely to rise rapidly in the short term, it might be worth opting for a 18-month or two-year fixed rate in order to get a better return with the option to exit in the not too distant future.
Here are the best buys ordered by interest rate.
Account | Interest rate (AER) | Minimum deposit | Length of fixed rate | Notes |
|---|---|---|---|---|
State Bank of India Online 5 Years Cash ISA Fixed Deposit | 2.50% | £15,000 | Five years | Transfers and new subscriptions. |
State Bank of India Online 1000 Day Cash ISA Deposit | 2.30% | £15,000 | 1,000 days | Transfers and new subscriptions. |
Coventry BS Fixed Rate Cash ISA | 2.25% | £1 | Until 30th November 2018 | Transfers and new subscriptions. |
Yorkshire/Clydesdale Bank Cash ISA- Fixed Rate Bond | 2.10% | £2,000 | Until 28th April 2017 | Transfers and new subscriptions. |
Virgin Money Fixed Rate Cash E-ISA | 1.65% | £1 | Until 24th February 2016 | Transfers and new subscriptions. |
Even though they have significantly higher interest rates, beware of the risk that come from five year bonds. The danger with locking your money away for longer is that rates may rise in just a couple of years' time, leaving you stuck with an uncompetitive account.
Compare ISAs
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