The best Cash ISAs for the new tax year

We take a look at the best new Cash ISAs for 2015/16

We take a look at the best new Cash ISAs for 2015/16

The 2015/16 tax year has begun, meaning a new ISA allowance of up to £15,240 in a Cash ISA.

So if you have savings that need a home where they can earn a tax-free return, these are the top deals to go for.

Easy access

Let's start with the ISAs that don't lock up access to your cash.
ISARateMinimum depositBonusNotes
HSBC Loyalty Cash ISA1.60%£11.09% for 12 monthsTransfers and new subscriptions.

Top rate only available to HSBC Premier current account customers.
Skipton BS Online Bonus Cash ISA Issue 41.50%£10.5% for 12 monthsNew subscriptions only.
NS&I Direct ISA1.50%£1NoneNew subscriptions only.
Nationwide Flexclusive ISA1.50%£1NoneNew subscriptions only.

Only available to Nationwide current account customers.
Post Office Money Online ISA – Easy Access Issue 11.50%£1000.85% for 12 monthsTransfers and new subscriptions.
Santander Direct ISA Saver Issue 101.50%£500NoneTransfers and new subscriptions.

Rate only available to Santander 123 World or Santander Select customers.

As you can see, the top return on an easy access ISA pays 1.60%, but it's reserved for HSBC Premier current account customers. Other HSBC current account holders get a lower rate.

The next best rate open to all is 1.50% from Skipton Building Society and NS&I. These accounts can be opened with £1 but transfers of previous years' allowances aren't permitted.

Three of the accounts mentioned pay bonuses for the first year. The plus side of a bonus is that you get a better rate at the start. However, you do need to make a note of when your bonus ends as you'll need to move your cash to a new ISA to avoid suffering a big drop in the interest rate.

Free ISA guides

Notice Cash ISAs

With a notice savings account, you give up access to your cash for a small period in exchange for (in theory) an improved interest rate.
ISARateMinimum depositBonusNotes
Al Rayan Bank Notice Cash ISA2.00%*£250NoneTransfers and new subscriptions.

120 days' notice for withdrawals.
Hinckley and Rugby 120-Day Notice Cash ISA Issue 21.60%£500NoneNew subscriptions only.

120 days' notice for withdrawals.

*Anticipated profit rate

There are only two notice Cash ISAs that beat the rates available on easy access alternatives.

The top deal from Al Rayan Bank pays 2% - a third more than the top easy access account open to all, but you'll need to give 120 days' notice before you can get access to any of your cash.

Free ISA guides

Top fixed rate ISAs

The rates on easy access and notice Cash ISAs aren't exactly high enough to set the heart racing.

If you want to get a better return, then locking your cash up for a longer period in a fixed rate Cash ISA may be the answer.

Here are the top deals across each term right now.
ISARateMinimum depositTermNotes
State Bank of India Cash ISA Fixed Deposit Account2.50%£15,000Five yearsTransfers and new subscriptions.
Virgin Money Fixed Rate Cash ISA2.35%£1Fixed until 24th April 2020Transfers and new subscriptions.
State Bank of India Online 1,000 Day Cash ISA Deposit2.30%£15,0001,000 daysTransfers and new subscriptions.
Coventry BS Fixed Rate ISA (26)2.25%£1Fixed until 31st May 2019New subscriptions only.
Yorkshire BS / Norwich & Peterborough/ Chelsea/ Barnsley BS Fixed Rate ISA2.15%£100Fixed until 31st March 2018Transfers and new subscriptions.
Yorkshire Bank / Clydesdale Bank Cash ISA Fixed Rate Bond2.10%£2,000Fixed until 28th April 2017Transfers and new subscriptions.
Al Rayan Bank 12-Month Term Deposit ISA1.90%£1,000One yearTransfers and new subscriptions.

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