With NS&I cutting the already paltry rate on its ISA, it's time to move your savings elsewhere. Not all ISAs allow you to make transfers, but these accounts do.
National Savings & Investments (NS&I) has cut the interest rate on its Direct ISA from 1% to 0.75%.
This is despite the Bank of England raising the Base Rate by the same amount in August.
With an interest rate of just 0.75%, NS&I's Direct ISA now lags well behind the rates offered by other providers and is below inflation.
Although many savers value the security that NS&I providers, it's worth noting that the Financial Services Compensation Scheme covers up to £85,000 of savings per banking group. Therefore, by spreading your savings around you can also ensure it is protected.
We’ve rounded up the best Cash ISAs that allow transfers of previous year’s ISA allowances as well as new subscriptions for 2018/19.
Easy access ISAs
The table below highlights the best easy access Cash ISAs that allow transfers in.
|
ISA |
Rate |
Minimum deposit |
Bonus |
Notes |
Access |
|
1.36%* |
£50 |
None |
Transfers and new subscriptions. |
Online, phone, post, in-branch, mobile app |
|
| Virgin Money Double Take Cash E-ISA | 1.35%** | £1 | None | Transfers and new subscriptions. | Online |
|
1.35% |
£100 |
None |
Transfers and new subscriptions |
Branch, postal |
* Anticipated profit rate (explained here)
**maximum two withdrawals per calendar year
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 |
Bonus |
Notes |
Access |
|---|---|---|---|---|---|
|
Charter Savings Bank 95 Day Notice Cash ISA - Issue 3 |
1.40% |
£1,000 |
None |
Transfers and new subscriptions. 95 days’ notice required for withdrawals. |
Online |
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. Bear in mind that locking your money away for years could be a risky move.
Here are the top-paying fixed-rate Cash ISAs, arranged by timespans, that accept transfers.
If you want to use this year's ISA allowance have a read of The best Cash ISAs.
|
Account |
Interest rate (AER) |
Minimum deposit |
Length of fixed rate |
Notes |
Access |
|---|---|---|---|---|---|
| Shawbrook Bank 5 year fixed rate cash ISA | 2.15% | £5,000 | Five years | Transfers and new subscriptions. | Online |
|
1.80% |
£1,000 |
Four years |
Transfers and new subscriptions. |
Online, postal |
|
|
1.86% |
£500 |
Three years |
Transfers and new subscriptions. |
Online |
|
|
1.81%* |
£1,000 |
Two years |
Transfers and new subscriptions. |
Online, in-branch, post, phone |
|
|
1.61%* |
£1,000 |
One year |
Transfers and new subscriptions. |
Online, in-branch, post, phone, mobile app |
*Anticipated profit rate (explained here)
Compare Cash ISAs
This article is regularly updated with the latest rates