Top Cash ISAs for transfers

lovemoney staff
by Lovemoney Staff lovemoney staff on 04 April 2014  |  Comments 4 comments

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

Top Cash ISAs for transfers

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.

Of course, if you’re one of our many savvy readers, you probably already have one. But even so, that doesn’t excuse you entirely.

After all, 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 and if it’s not paying a decent rate of interest, 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 2013/14 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. Unfortunately, in common with other savings products, rates continue to plummet, but here are the best around now. We've included accounts that are tied to popular current accounts and those that have tiered interest rates.

Easy access ISAs

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

Account

Interest Rate (AER)

Minimum deposit

Access

First Direct Cash ISA

2.00%*

£40,000

Online

Scottish BS Cash ISA

1.80%**

£30,000

Branch, post

Beverley BS Cash ISA

1.80%**

£35,000

Branch, post

Danske Bank Cash ISA

1.75%**

£30,000

Branch

Ulster Bank Cash ISA

1.75%**

£35,000

Online, branch, phone

First Trust Bank Cash ISA

1.75%**

£50,000

Branch

Metro Bank Instant Access Cash ISA

1.65%

£1

Branch, post

Santander Direct ISA

1.60%

£500

Online, branch, phone

*Must have 1st account to qualify; lower rates available for smaller deposits

**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.

Account

Interest Rate (AER)

Minimum deposit

Notes

Access

National Counties BS 45-Day Notice ISA

2.00%*

£35,000

45 days’ notice required for withdrawals. Lower rates available for smaller deposits.

Online, post, branch, phone

Principality BS Principality Promise ISA

1.80%

£500

30 days’ notice required for withdrawals.

Branch

Islamic Bank of Britain Sharia-compliant Notice Cash ISA

1.80%

£250

120 days’ notice required for withdrawals.

Online, post, branch

Beverley BS Cash ISA

1.80%*

£35,000

30 days’ notice required for withdrawals.

Branch, post

*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.

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

Skipton BS Online Five-Year Fixed Rate ISA

3.00%

£500

Five years (fixed until 15th April 2019)

Online

Leeds BS Five-Year Fixed Rate ISA (being withdrawn on 4th April)

2.80%

£1

Five years (fixed until 30th April 2019)

Online, branch, post

Nationwide Fixed Rate ISA

2.40%

£1

Four years

Branch

Halifax ISA Saver Fixed

2.40%

£500

Four years

Online, branch, phone

Lloyds Bank Fixed Rate Cash ISA

2.40%

£3,000

Four years

Branch, phone

Santander 123 Fixed Rate ISA

2.30%*

£500

Two years

Branch, phone

Nationwide Fixed Rate ISA

2.25%

£1

Three years

Branch

Halifax ISA Saver Fixed

2.25%

£500

Three years

Online, branch, phone

Skipton BS Online Fixed Rate ISA

2.25%

£500

Three years (fixed until 15th April 2017)

Online

Lloyds Bank Fixed Rate Cash ISA

2.25%

£3,000

Three years

Branch, phone

Britannia Fixed Rate Cash ISA

2.10%**

£1

Two years (fixed until 5th April 2016)

Branch

Britannia Fixed Rate Cash ISA

2.05%

£1

Two years (fixed until 5th April 2016)

Branch

Nationwide Fixed Rate ISA

2.05%

£1

Two years

Branch

Cheshire BS Fixed Rate Cash ISA

2.05%

£100

Two years

Branch

Derbyshire BS Fixed Rate Cash ISA

2.05%

£100

Two years

Branch

Dunfermline BS Fixed Rate Cash ISA

2.05%

£100

Two years

Branch

Halifax ISA Saver Fixed

2.05%

£500

Two years

Online, branch, phone

Halifax ISA Saver Fixed

2.00%

£500

18 months

Online, branch, phone

Britannia Fixed Rate Cash ISA

1.90%**

£1

One year (fixed until 5th April 2015)

Branch

Metro Bank Fixed Rate Cash ISA

1.75%

£1

One year

Branch

Britannia Fixed Rate Cash ISA

1.71%

£1

One year

Branch

*Only available to 123 current account customers, 123 credit card customers and Select customers

**Must have Co-operative Bank or smile current account and have funded it with at least £800 for past three months and fund it with £800 each month from opening

Compare Cash ISAs

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

 

Enjoyed this? Show it some love

Twitter
General

Comments (4)

  • coloratura
    Love rating 81
    coloratura said

    No wonder the Chancellor so kindly wants us to put £15,000 tax free in an ISA. At 2% interest at the best it hardly gives you much - the banks and the Government are laughing at us. Better to splurge your savings on something you really like or look for a much better interest rate somewhere if possible. The only possibility via ISA's is to go via a Peer to Peer lending group possibly, although naturally you should do your research first.

    Report on 24 March 2014  |  Love thisLove  0 loves
  • Simon Ward
    Love rating 8
    Simon Ward said

    Brian McCusker,

    Thanks for pointing out, but as there was no information on this rate change on First Trust website that is why we have gone with 1.75%.

    Best wishes

    Simon

    Report on 25 March 2014  |  Love thisLove  0 loves

Post a comment

Sign in or register to post a reply.

Our top deals

Provider & account name AER/Gross Interest paid Apply
now

GE Capital Direct
GE Saver Issue 6

1.10% /
1.10%
Anniversary Apply

Scottish Widows Bank
Direct Transfer Account 2

1.00% /
1.00%
Anniversary Apply

NatWest
Instant Saver

0.50% /
0.50%
Quarterly Apply
W3C  Thank you for using One Flew Over the Cuckoo's Nest