If you are looking to put your cash on deposit it is important that you seek out the best rates available. Although rates generally are low at present even the obtaining the slightest improvement in the rate of interest you receive is well worth the effort.
To start off with ensure you are making full use of your annual cash ISA allowance (currently £5,640).
Best Cash ISA rates
Cash ISA variable rate
Santander Direct ISA Issue 9
- 3.30% (AER) - incl 2.80% bonus for first 12 months
- Min. deposit £2,500
- Unlimited withdrawals without penalty
- Transfers accepted up to £29,999
Cash ISA fixed rate
Cheshire BS Direct Cash ISA ( Issue 2)
- 3.50% (AER) Fixed - incl 2.50% bonus until 31/10/2013
- Min. deposit £1,000
- Instant access
- No transfers in accepted
Once you have used up your annual ISA allowance then here are the best cash rates.
Instant Access (balances below £25,000)
Coventry BS Online Saver (2)
- 3.15% (AER) - incl 1.15% bonus for first 12 months
- Min. investment £1
- Max. investment £250,000
- Choose monthly or annual interest
- 4 penalty free withdrawals per year
Instant Access (balances of £25,000+)
Nationwide BS MySave Online Plus
- 3.17% (AER) - incl 1.62% bonus for first 12 months
- 2.85% (AER) for balances £1,000 - £24,999 - incl. 1.31% bonus for first 12 months
- Min. balance £1, max. investment £5m
- 1 penalty free withdrawal per year
If you are comfortable with locking your cash in for a period of time, then these are the best rates.
Fixed Rate Bond - 1 Year Term
cahoot 1 Year Fixed Rate Bond (issue 3)
- 3.60% (AER)
- Min. deposit £25,000
- Max. deposit £2m
- No additional deposits, withdrawals or account closure during term
Fixed Rate Bond - 2 Year Term
Allied Irish (GB) Savings Direct 2 Year Fixed Rate Bond
- 3.80% (AER)
- Min investment £1,000
- Max. investment £2m
- No additional deposits
- Withdrawals at the banks discretion and subject to interest penalties
Fixed Rate Bond - 5 Year Term
Vanquis Bank 5 Year Fixed Rate Bond
- 4.41% (AER)
- Min. investment £1,000
- Max. investment £250,000
- Monthly or annual interest payments
- No additional deposits, withdrawals or closure during term
