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The best Cash ISAs for the new tax year

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We take a look at the best new Cash ISAs for 2014/15.


The 2014/15 tax year has now begun, meaning a new ISA allowance.

Things are a little different this year, with the big revamp of how ISAs work coming into force from July. For more, read Budget 2014: Is this a brave new world for savers?

But in the meantime, if you have savings that need a home where they can earn a tax-free return, these are the top Cash ISAs to take a look at.

Easy access

Let’s start with the ISAs that don’t lock up access to your cash.

ISA

Rate

Minimum deposit

Bonus

Notes

Nationwide BS Flexclusive ISA

1.75%

£1

None

New subscriptions only. Must hold Nationwide current account.

Metro Bank Instant Access ISA

1.65%

£1

None

New subscriptions and transfers.

Santander Direct Saver ISA

1.60%

£1

1.10% for the first year

New subscriptions and transfers.

Cheshire BS Easy Saver ISA

1.60%

£1

None

New subscriptions only.

Dunfermline BS Easy Saver ISA

1.60%

£1

None

New subscriptions only.

Halifax ISA Saver Online

1.55%

£1

1.30% for first 12 months

New subscriptions and transfers.

As you can see, the best rate available on an easy access ISA right now comes from Nationwide. However, you need to have a Nationwide current account to get your hands on it.

Metro Bank comes next, though as you can only open it in branch it won’t be an option for everyone.

Two of the accounts mentioned above 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.

ISA

Rate

Minimum deposit

Bonus

Notes

Islamic Bank of Britain Sharia-compliant Notice Cash ISA

1.80%

£250

None

Transfers and new subscriptions.

120 days’ notice required for withdrawals.

Earl Shilton BS 90-Day Notice ISA

1.80%

£10

None

New subscriptions only. 90 days’ notice required for withdrawals.

Hinckley and Rugby BS 120-Day Notice Cash ISA

1.75%

£500

None

New subscriptions only. 120 days’ notice required for withdrawals.

Teachers BS Cash ISA Notice 90

1.65%

£100

None

New subscriptions only. 90 days’ notice required for withdrawals.

Free ISA guides

Top fixed rate ISAs

Those rates are not exactly high enough to set the heart racing. If you want to get a better rate, then locking your cash up for a longer period in a fixed rate Cash ISA may be the answer, particularly as the Bank of England has indicated that interest rates aren’t likely to rise quickly in the short term.

ISA

Rate

Minimum deposit

Term

Notes

Skipton BS Online Five-Year Fixed Rate ISA

3.00%

£500

Five years (fixed until 15th April 2019)

Transfers and new subscriptions.

Coventry BS Fixed Rate ISA

2.75%

£5,940

Four years (fixed until 31st May 2018)

New subscriptions only.

Newcastle BS Fixed Rate Options

2.75%

£500

Five years (fixed until 20th May 2019)

Transfers and new subscriptions.

Principality BS Fixed Rate Cash ISA

2.75%

£500

Five years

Transfers and new subscriptions.

Nationwide BS Fixed Rate ISA

2.40%

£1

Four years

Transfers and new subscriptions.

Santander Two Year Fixed Rate ISA*

2.30%

£500

Two years

Transfers and new subscriptions.

Skipton BS Online Fixed Rate ISA

2.25%

£500

Three years (fixed until 15th April 2017)

Transfers and new subscriptions.

Nationwide BS Fixed Rate ISA

2.25%

£1

Three years

Transfers and new subscriptions.

Halifax ISA Saver Fixed

2.05%

£500

Two years

Transfers and new subscriptions.

Cheshire BS Fixed Rate ISA

2.05%

£100

Two years

Transfers and new subscriptions.

Derbyshire BS Fixed Rate ISA

2.05%

£100

Two years

Transfers and new subscriptions.

Dunfermline Fixed Rate ISA

2.05%

£100

Two years

Transfers and new subscriptions.

Nationwide BS Fixed Rate ISA

2.05%

£100

Two years

Transfers and new subscriptions.

Halifax ISA Saver Fixed

2.00%

£500

18 months

Transfers and new subscriptions.

Metro Bank Fixed Rate ISA

1.75%

£1

One year

Transfers and new subscriptions.

Tesco Bank Fixed Rate ISA

1.65%

£1

One year

Transfers and new subscriptions.

Halifax ISA Saver Fixed

1.65%

£500

One year

Transfers and new subscriptions.

Kent Reliance BS Fixed Rate Cash ISA

1.65%

£1,000

One year

Transfers and new subscriptions.

*Must hold Santander current account or credit card

Free ISA guides

More on savings:

The best fixed rate savings accounts

April 2014's Premium Bonds winners

Budget 2014: Is this a brave new world for savers?

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