Individual Savings accounts (ISAs) are a not only a great way to save money but they also provides a great opportunity to get tax free interest accumulation.
Its growing popularity among the people has influenced banks and financial institutions to come up with different deals for ISA. These ISA deals by different banks have core focus to allure customers with their attractive offers and provide competitive rates.
It is very important, therefore, to pick the best ISA deal available in the market. In order to go for the most appropriate individual savings account, little research or homework is required to attain win-win situation. It is essential to compare ISA rates to get a hold of the most advantageous offer.
Other than comparing interest rates, there are some key factors which are crucial in deciding on the institution for your savings account. These factors include minimum investment, mode of access, transfer facility, and other benefits. You should be aware that some deals are attractive at first look, but later on it could surface its shortcomings and prove to be a poor offer.
It is important to compare cash ISA of different banks and financial institutions to get great interest rate along with other beneficial services. Following are the few institutions with their comparison parameters.
Compare Cash ISA rates| Cash ISA rates Comparison
| Account Name | Interest Rate AER | Transfer in | Access | Details |
|---|---|---|---|---|
| Natiowide e-ISA | 3.10% | Yes | Online only | This account can be opened with £1. Interest rate includes a bonus for the first year. |
| Halifax ISA Direct Reward | 3.20% | Yes | Branch, Online, Telephone | The account can be opened from a meagre amount of £1 and this minimum amount has to be in the account for the initial 12 months. The interest rate includes a bonus of 0.2% for holders of Halifax Current Account. |
| Birmingham Midshires ISA | 2.90% | Yes | Post Only | Minimum investment required is £1. Allows unlimited withdrawals without any loss of interest or penalties. Bonus of 1.20% for the 1st 15 months is included in the rate. |
| Northern Rock e-ISA | 2.80% | Yes | Online Only | You can open your account from as little as £1. This ISA do not offer any introductory bonus, however, you will have unrestricted access to your money. |
| Northern Rock Easy ISA | 2.65% | Yes | Post, Branch | Do not offer any bonus. Minimum required investment is £1. |
| Lloyds TSB Cash ISA Saver | 2.65% | Yes | Branch, Telephone, Online | £1 minimum investment required. 1.65% AER bonus included for 18 months. |
| Natwest Cash ISA | 2.00% | Yes | Branch, Post, Online, Telephone | To get this rate, a minimum investment of £50,000 is required. There are different rates for balances below this. |