The best Cash ISA rates have been named by Martin Lewis’s Money Saving Expert. The personal finance champions listed the top four highest rates, as well as the four highest rates from well-known names. The list shows that the best rates often come from providers that aren’t as popular as the high street names, meaning many savers are missing out on better returns when it comes to the money they have stashed away. In fact, recent data uncovered the stark number of accounts where savers are earning little or no interest at all. Some savers are missing out on hundreds every year by keeping their funds in low-paying accounts, experts have warned.
For those looking for the best returns, there are four accounts that pay the highest rates. Meanwhile, four big-name brands pay the highest rates amongst their well-known counterparts.
According to Martin Lewis’s Money Saving Expert, the highest-paying easy access Cash ISA accounts are:
Chip – newbies only: This one pays a 4.79% rate, which includes 3.5% variable and a 12-month 1.29% bonus. Interest is paid monthly on this flexible ISA.
Moneybox – newbies only: The 4.53% is comprised of 3.45% variable and a 1-year 1.08% bonus. However, the rate falls to 0.75% after 3 withdrawals per year. Interest is paid monthly.
Meanwhile, the experts recognise that many people will prefer to store their money with names they are familiar with. In that case, the top-paying big-name east access accounts are:
Post Office: This Cash ISA pays a rate of 4.25%, which is made up of a 0.9% variable rate and a 1-year 3.35% bonus. Interest is paid annually, and the account is not flexible.
Tesco Bank: This account’s rate is 4.2%, which includes a 1.05% variable rate and a 1-year 3.15% bonus. This account is flexible, and interest is paid annually.
Leeds Building Society: The account pays a 4.16% variable rate for a year, and interest is paid annually. The account is not flexible.
