ISA Ideas

• Cash ISAs
• Fixed Rate Cash ISAs
• Instant Access Cash ISAs
• Structured Cash ISAs
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• ISAs Explained
• 5 Factors to Consider when choosing a Cash ISA
• What can Cash ISAs include?

Cash ISAs

Latest Deals for Cash ISAs

HM Treasury has set the new 2012/13 Cash ISA Allowance at £5,680.

 

Use our Cash ISA tables below for a selection of market leading Cash ISAs for instant access, fixed rate and alternative ideas to maximise tax free returns.

 

James Caldwell, Director

Cash ISA Selection

Provider	Plan Name	Deposit Taker	ISA Option	Term	Maximum Potential Return	More Info
	FTSE 100 3 Year Deposit Plan	Investec Bank plc		3 years	17.25%	More Info >
3 year structured deposit plan Capital protected Target return of 17.25% Available as a Cash ISA & for ISA transfers Also available to businesses, charities and trusts Plan designed to be held for full term May close early if oversubscribed
	Income Deposit Plan	Royal Bank of Scotland plc		6 Years	7.00% per annum	More Info >
6 year structured deposit plan Capital protected Available for Cash ISA & Cash ISA transfers Also available to businesses, charities and trusts Income is not guaranteed Plan designed to be held for full term May close early if oversubscribed
	FTSE 100 Kick Out Deposit Plan - Option 2	Investec Bank plc		Up to 5 years	6.00% per annum	More Info >
5 year structured deposit plan Capital protected Potential for early maturity after years 2,3 and 4 Available as a Cash ISA & for ISA transfers Also available to businesses, charities and trusts Plan designed to be held for full term May close early if oversubscribed

Important Information: Structured deposits offer you the potential to earn higher returns than you would with a regular savings account. Your returns are based on the performance of an index or commodity. If the investment does not perform well you may receive no income or capital growth, but you can be confident that your capital will be repaid. You have no access to your deposit during the term of the account, typically 3 to 6 years but your original capital will be repaid in full at the end of the term. In the event that the deposit taker is unable to repay your initial investment and any returns stated you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) depending on your individual circumstances.

Instant Access Cash ISA Selection

Fund Manager	Account	Rate	Term	More Info
	Nationwide Online ISA	3.10%	Instant Access	More Info >
Introductory fixed rate of 3.10% AER tax-free until 30 September 2013 After 31st October 2013 reverts to variable rate Minimum opening balance of £1,000 Transfer in from existing cash ISAs
	ING Direct Cash ISA	3.00%	Instant Access	More Info >
3.00% AER guaranteed rate for 12 months (2.96% gross p.a.) Open with £1 Instant access Tax free savings
	E-Cash ISA	2.50%	Instant Access	More Info >
Open with £10 Transfers allowed from other cash ISAs

Fixed Rate Cash ISA Selection

Fund Manager	Account	Rate	Term	More Info
	2 Year Fixed Rate Cash ISA	3.70%	2 Years	More Info >
3.70% tax free/AER fixed on balances of £10,000 or more 3.40% tax free/AER fixed on balances of less than £10,000 Minimum opening balance of £3,000 Additional deposits allowed
	1 Year Fixed Rate Cash ISA	3.30%	1 Year	More Info >
Minimum opening balance of £1,000 Manage your account online Withdraw cash early if you need to (subject to loss of interest) Transfer from other cash ISA providers

Cash ISAs

Cash ISAs are one of the most tax-efficient ways to save your money because you pay no income tax on the interest you make. Depending on your requirements, you can choose from a wide range of Cash ISAs, including fixed or instant access, or Cash ISAs that aim to pay a return linked to the performance of the FTSE 100 Index, while protecting your capital.

ISA Allowances

The current Cash ISA allowance for 2012/13 is £5,640 which is an increase of £300 over last year and is available until April 5th 2013. It is important to remember that the Cash ISA allowance applies to everyone on an individual basis if you are aged 16 or over (for a stocks and shares ISA you must be 18 or older). So if you are married or in a relationship you can both hold your own ISA. You must be a resident or ordinarily a resident in the UK to qualify for an ISA.

Cash ISA Rates

Cash ISA rates change all the time so the deals available last year may have changed significantly - you certainly don't want to assume that when it comes to taking out your annual Cash ISA that your current cash ISA provider will offer you the best deal. There is nothing stopping you have multiple Cash ISA providers, but if you have Cash ISAs from previous years where the rates of interest are no longer competitive you should consider a Cash ISA transfer. The good news is that your new Cash ISA provider should do all the work for you to make this happen. Ask the Cash ISA provider whose interest rates you like for a Cash ISA transfer form.

Choosing a Cash ISA

Cash ISAs come in different forms:

• Variable Rate Cash ISAs - Rates will move up and down and you will normally have access to your money at short notice.
• Fixed Rate Cash ISAs - The interest rate will be fixed for a term and conditions will normally apply to accessing your money early.
• Alternative Cash ISA Plans - These Cash ISA Plans are often called structured deposit plans and will normally require you to lock money away for a fixed term. While capital is protected the additional return on your money will normally be linked to the performance of the stock market e.g. the FTSE 100.