This comparison simply includes all savings accounts.
Instant Access ISAs
Why we like it: Tax free ISA account. Make up to three withdrawals during the 12-month term of this account. Open with £1 or transfer in existing ISA funds. Invest up to £20,000 per tax year. Manage your account online. Interest paid at maturity. FSCS Protected. Must be UK resident and aged 16 or older. Make more than three withdrawals and the rate drops to 0.01% AER/gross p.a. (variable). Not available in branch
Why we like it: Instant ISA Saver is designed for those that want the convenience of a tax-free cash ISA with instant access. Earn 0.01% AER (variable) on balances between £1 and £9,999, 0.03% AER (variable) on balances between £10,000 and £49,999, and 0.05% (variable) AER on balanced over £50,000
Instant Access ISA
If you wish to access a fixed interest rate without necessarily tying up your money for a set period of time, you may want to open an Instant Access ISA.
An Instant Access ISA is an account that you can use to put your savings in and make your savings work harder for you.
An Instant Access ISA account has both the advantages of an ISA and some of the flexibility of an instant cash savings account.
If choose to open an Instant Access ISA, you will be able to withdraw as much as you like from the account, and providing you replace it within the same tax year it will not count towards your annual ISA allowance.
The ability to access your savings whilst enjoying competitive interest may help you to achieve your savings goals. Find our savings rates table above for the latest interest rate deals.
Features of an Instant Access ISA
You may benefit from opening an Instant Access ISA:
- No income tax – unlike other financial products the interest you earn in your ISA is not subject to tax
- Easy access – If you wish to open an Instant Access ISA, as opposed to a fixed rate cash ISA, you will benefit from competitive interest as well as easy access to your money, should you need it
- No need to declare – you are not obliged to declare your cash ISA or any interest you get from your ISA on your tax return
- Straightforward transfers – you have the option to transfer your cash ISA to another provider if you find a better interest rate
