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Top Cash ISAs for transfers

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Last updated on

31 July 2014

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2 Comments

Not all Cash ISAs allow you to transfer existing ISA funds in. But these do.

Here at lovemoney HQ, we regularly bang on about the importance of opening a Cash ISA. After all, these accounts are a great way for you to save tax-free.

But do you know what rate of interest your ISA is paying? Are you sure it’s competitive? If not, we’d suggest finding out now. If it’s not, it’s time to move your money.

Unfortunately, there’s just one snag with this. Some of the best interest rates are for Cash ISAs which don’t allow transfers in from existing ISAs, meaning you can only open them with fresh funds.

For a round-up of the top ISAs for the current 2014/15 tax year, regardless of restrictions, take a look at The best Cash ISAs.

For the top ISAs that are only available to people who already have products with a financial institution or live in certain geographic areas, see The hidden best buy Cash ISAs.

Here we're going to look at the best Cash ISAs that allow transfers in. We've included accounts that are tied to popular current accounts and those that have tiered interest rates.

Following the increase in the annual ISA allowance to £15,000, rates have improved slightly.

Easy access ISAs

The table below highlights the best easy access Cash ISAs that allow transfers in.

Account

Interest Rate (AER)

Minimum deposit

Access

Coventry BS ISA Reward*

2.50%

£1

Branch

Loughborough BS Cash ISA*** 1.80%^ £25,000 Branch, post
Danske Bank Cash ISA 1.75% £30,000 Branch
HSBC Loyalty Cash ISA 1.60% (0.49% after 12 months) £1 Branch, online, phone
BM Savings ISA Extra Issue 11 1.55% (0.5% after 12 months) £1 Post
Kent Reliance Easy Access Cash NISA
Issue 9
1.55% 
 
£1,000 Post, branch
BM Savings ISA Extra 11 1.55%^ (0.50% after first 12 months) £1 Online, post, phone

Virgin Money Easy Access E-ISA 9

1.50% £1 Online

Halifax ISA Saver Online

1.50% (0.25% after first 12 months) £1 Online

GE Capital Direct GE Saver Cash ISA

1.50%

£500

Online

Santander 123 Direct ISA Saver****

1.50%

£500

Online, phone

Nationwide Instant ISA Saver

1.50%

£1,000^

Online, branch

Cheshire BS ISA Saver

1.50% (including a bonus until 14th September 2014)

£1,000

 

Online, phone

Britannia Select Access Cash ISA 5 1.40% £500 Branch, post
First Direct Cash ISA** 1.30%^ £1
Online, post, phone

*Must have held Coventry BS ISA in February 2013

**Must have 1st account to qualify

***Must be existing member or live in LE, NG or DE postcode areas

****Must be Santander 123 current account, 123 credit card or Select customer

^Lower rates available for smaller deposits

Notice ISAs

If you don't think you'll need to access your ISA money, then you could instead opt for a notice ISA. Historically, they have generally paid better interest rates than easy-access ISAs, but that is only just the case right now.

Account

Interest Rate (AER)

Minimum deposit

Notes

Access

Clydesdale Bank 40 Day Notice Cash ISA

2.00%^

£24,000

40 days’ notice required for withdrawals.

Branch, post, phone

Yorkshire Bank 40 Day Notice Cash ISA

2.00%^

£24,000

40 days’ notice required for withdrawals.

Branch, post, phone

Islamic Bank of Britain Sharia-compliant Notice Cash ISA

1.80%*

£250

120 days’ notice required for withdrawals.

Online, post, branch, phone

Furness BS ISA 90 2

1.60%^

£9.0001

90 days’ notice required for withdrawals.

Branch, post

*Anticipated profit rate

^Lower rates available for smaller deposits

Fixed rate cash ISAs

If you’d prefer to tie up your savings for a year or more, you could usually earn a far higher rate of interest with a fixed rate cash ISA. However, at the moment only longer-term accounts are paying better rates. And there are currently no 'exclusive' rates for people transferring old ISAs over.

Here are the top-paying fixed-rate Cash ISAs across a range of timespans that accept transfers in.

 

Account

 

Interest rate (AER)

Minimum deposit

Length of fixed rate

Access

  Leeds BS 5 Year Fixed Rate ISA Issue 39    2.85% £100 Five years Online, branch, post
  Julian Hodge Bank 5 Year Fixed ISA   2.85% £5000 Five years Branch, post
  Skipton BS Online 5 Year Fixed Rate ISA   2.75% £500 Five years Online
  Principality BS Five Year Fixed Rate Cash ISA
Issue 129
  2.75% £500 Five years Online, branch, post
  Coventry BS Fixed Rate ISA 21    2.75% £1 Four years (ends 31/05/18) Online, branch, phone, post
  Nationwide 5 Year Fixed Rate ISA   2.50% £1 Five years Branch
  Clydesdale Bank Cash ISA- Fixed Rate Bond
(Issue 25)  
  2.45% £2,000 Three years (ends 31/10/17) Branch
  Yorkshire Bank Cash ISA- Fixed Rate Bond
(Issue 25)
  2.45% £2,000 Three years (ends 31/10/17) Branch
 

Virgin Money Fixed Rate Cash E-ISA

 

2.25%

£1

Three years

Online, branch, post

 

Clydesdale Bank Cash ISA Fixed Rate Bonds

 

2.45%

£2,000

Three years (fixed until 31st October 2017)

Branch

 

Yorkshire Bank Cash ISA Fixed Rate Bonds

 

2.45%

£2,000

Three years (fixed until 31st October 2017)

Branch

 

Virgin Money Fixed Rate Cash E-ISA 

 

2.10%

£1

Two years

Online

 

Virgin Money Fixed Rate Cash E-ISA

 

1.76%

£1

One year

Online

For a comprehensive round-up of all the latest Cash ISAs read The best Cash ISAs.

Compare Cash ISAs

This article is regularly updated with the latest rates

More on ISAs and savings

Where to earn most interest on your cash

The top fixed-rate savings bonds

Top instant access savings accounts

 

 

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