Best Cash ISA Rates?

This is an up to date list of some of the top rates for a variety of accounts, it is not an exhaustive list, it is not advice and you need to check the detail – I suggest using the moneyfacts website, which is reasonably good at cutting to the chase. Banks and Building Societies are not alike. The parentage of Banks needs to be considered for proper protection under the FSCS. Rates remain poor and despite rising inflation, there is little appetite amongst banks for providing higher rates of interest.

Make sure that you are not paying tax on interest if it can be avoided (accounts held in non taxpayer or basic rate taxpayer name for spouses).

Two Year Deposit
Online: Post Office 3.96%
Bank: Clydesdale 3.82%
Building Society: National Counties 3.76%

One Year Deposit
Online: Derbyshire 3.55%
Bank: Santander 4.20%
Building Society: Barnsley 5.00%

Cash ISA – Fixed Rate
Bank: Halifax 4.40%
Building Society: Barnsley 5.00%

Instant Access
Online: Derbyshire 3.16%
Bank: Santander 2.50%
Building Society: Nottingham 3.25%

Cash ISA – Variable Rate
Online: AA Savings 3.05%
Bank: Santander 4.00%
Building Society: Newcastle 3.05%

You will recall from your history lessons that the English and Spanish had a few scraps at sea. It has been 423 years since the Spanish Armada attempted to remove Queen Elizabeth I from the throne after she refused the offer of marriage from Philip II. Today the relationship between Spain and England is significantly better. Santander, a global Spanish bank now has a significant high street presence her in Britain, not to mention appearances as the lead sponsor of the McLaren Formula One team. Their advert suggests that they are driven to do better than other banks, I wonder if you have any thoughts on this? Investor compensation was not really that widely available in 1588 but in 2011 you would be wise to check what compensation and investor protection is available for your deposits – in Spanish banks or anyone else’s. Details are found at the FSCS website. You have been warned. One of their adverts appears below, this is not an endorsement or advice to use Santander.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email