Trading 212’s Cash ISA can be opened with just £1 (Image: Getty)
A ranking of some of the “best” easy access Cash ISAs available this week has been topped by an account offering 4.51% AER. Trading 212’s Cash ISA Promo Rate account remains at the top of Moneyfacts’ weekly round-up despite its rate falling from 4.76% to 4.51%.
Moneyfacts said the headline rate is paid monthly and includes a bonus rate of 0.91% for savers who apply via its website before July 3. The account can be opened with as little as £1 and managed online as well as via the provider’s mobile app. Rhiannon Philps from Moneyfacts said the ISA allows unlimited additions and withdrawals.
She explained that as a flexible ISA savers can replace money previously withdrawn in the same tax-year without affecting the annual ISA allowance, which is currently £20,000.
Rhiannon added: “Before applying for this ISA, it’s important to check Trading 212’s partner banks to make sure your money will be fully covered by the Financial Services Compensation Scheme.”
The FSCS fund protects consumers from £85,000 to £120,000 if an authorised financial services firm goes bust.
Trading 212’s offer has also been listed as Martin Lewis’s Money Saving Expert’s “top pick” of the week.
While Moneyfacts’ top three easy access ISA accounts saw their rates drop this week, fixed rate ISAs have risen, according to the financial comparison company.
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Top of Moneyfacts‘ “best” fixed Cash ISA rates this week is Isbank’s Meteor Savings – 1 Year Fixed Rate Cash ISA, which is offering 4.75% AER. The same rate is available for Meteor Savings – 2 Year Fixed Rate Cash ISA.
Savers will need at least £1,000 to open either account and won’t be able to add any more after making their opening deposit.
Both accounts pay interest when they mature and are available via the provider’s Meteor Savings platform.
Money Saving Expert describes the savings platform’s rate as “decent” in its current round-up of the top fixed rate Cash ISAs.
The “best” notice Cash ISA rate this week is Dudley Building Society’s 30 Day Notice Cash ISA Issue 4, according to Moneyfacts.
This provider’s rate at the time of writing is 3.95% AER and the account allows transfers in from other ISAs.
Savers can open this account with £100 or more with interest paid annually. You can access funds earlier, but this is subject to a 30 day loss of interest.
An ISA allows people to save or invest up to £20,000 per tax year without paying income tax, capital gains tax or tax on interest or dividends.