See our selection of the best cash ISAs available for the 2013/14 tax year. Remember, you have until 5th April 2014 to use your cash ISA allowance, so make sure you take advantage of your tax free allowance before it's too late.
James Caldwell, Director
|Provider||Plan Name||Deposit Taker||ISA Option||Term||Maximum Potential Return||More Info|
|Deposit Growth Plan||Investec Bank plc||5 years||130% x any FTSE 100 growth (no limit)||More Info >|
|Fund Manager||Account||Rate||Term||More Info|
|2 Year Fixed Rate Cash ISA||1.85%||2 Years||More Info >|
|1 Year Fixed Rate Cash ISA||1.85%||1 Year||More Info >|
|1 Year Fixed Rate Cash ISA||1.70%||1 Year||More Info >|
A cash ISA is a simple way get a good return on your money through tax-free interest, particularly if you're a novice when it comes to choosing savings accounts. In the current economic climate it's more important than ever to have some money stashed away for a rainy day.
There are several factors to consider when choosing a cash ISA:
Do you want easy access to your money? An instant access ISA might be the right choice for you, as long as you're willing to accept a slightly lower rate of interest.
Are you happy to lock away cash for a set period of time? Fixed-rate cash ISAs might be a better option as they have the potential to offer a greater return long-term.
Do you have a lump sum to invest, or are you planning to make small regular payments? Different ISA providers offer different minimum deposits ranging from just one pound to several thousand pounds.
There is no single 'right' cash ISA choice for everyone - it's a case of weighing up the different factors and considering which product and provider best meets your overall needs. Use our cash ISA rates tables for 2013/14 to compare different providers, research your options, and ensure you get a good savings rate.
Using your cash ISA allowance saves you money by allowing you to keep 100% of any interest you earn. Compare this to the usual tax rates on savings:
The above information gives you a general idea of what you could save - remember that it depends on your individual circumstances and may be subject to change in the future.
You are free to transfer your cash ISA at any time, making it easy to move your money around providers and ensure the most competitive rates. Bear in mind that if you try to do this by withdrawing your cash and then opening another ISA, you will lose all your tax-free benefits. To transfer an ISA without losing out, speak to your new provider, who will arrange the transfer of funds from your old cash ISA provider.
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.