What are the top cash ISAs?

Top cash ISA rates are harder to come by at the moment due to a combination of factors, including the Government's Funding for Lending Scheme and a persistently low base rate. However, it's still worth shopping around for the best deal, and here we outline some of the top cash ISA rates available now.

Instant access cash ISAs

For easy and fast access to your money, an instant access cash ISA is a useful option. Nationwide are offering a Web ISA paying 2.25% gross/AER fixed until September 2014. The account can be managed entirely online, although you will need to open a current account with Nationwide before you apply.

Short term fixed rate cash ISAs

If you don't want to tie up cash for much more than a year, Aldermore is currently offering a one year fixed rate cash ISA paying 1.85% gross/AER.

Medium term fixed rate cash ISAs

Natwest are currently offering a 2 year fixed rate cash ISA with a starting deposit of £1,000. This plan offers 2% gross/AER - but bear in mind that closing the account early could result in a penalty charge.

Cash ISA alternatives

If you'd normally consider putting your cash into a fixed rate ISA, you may want to consider an alternative type of cash ISA, known as a structured deposit ISA. These plans protect your money, with the potential to receive returns linked to the performance of an index such as the FTSE 100.

To find out more about structured deposit cash ISAs, click here.

No news, feature article or comment should be seen as a personal recommendation to invest. If you are in any doubt as to the suitability of a particular investment you should seek independent financial advice. Tax treatment is dependent on your individual circumstances and may change.

These are structured deposit plans that are capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term. The past performance of the FTSE 100 Index is not a guide to its future performance.