Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 New Tax Year Approaching Fast!

Author: Anna Bowes
09th March 2016

 

Savings Champion Rate Alert
Wednesday 9th March 2016

Latest News

 

The new tax year is almost upon us, with less than a month left to deposit your 2015/16 Cash ISA allowance.

The new tax year will start on 6th April 2016 and HMRC has announced that it will introduce a new Personal Savings Allowance (PSA). For more information on this, please take a look at our free PSA Factsheet.

Don’t forget your Cash ISA allowance is in addition to the Personal Savings Allowance. Although the introduction of the PSA can only be a good thing, not least as it gives you more choice on where to save tax-free, it’s worth remembering that should interest rates rise in the future, the amount you can save utilising your PSA will diminish, whilst money held in a Cash ISA will remain tax-free regardless of what interest rate you are getting. 

Please see the table below for the best Cash ISAs currently on the market. For more information, call us on 0800 321 3581, we'd love to hear from you!
 
Provider Account Name Balance AER
Teachers Building Society

Cash ISA Notice 90 Issue 5

£100+
1.50%

Virgin Money

1 Year Fixed Rate Cash E-ISA Issue 166

£1+
1.50%

State Bank of India

Online Cash ISA 2 Year Fixed Deposit 

£15,000+
2.00%

State Bank of India

Online Cash ISA 3 Year Fixed Deposit 

£15,000+
2.30%

State Bank of India

Online Cash ISA 5 Year Fixed Deposit 

£15,000+
2.60%
Best Buy Tables »

Best Savings Deals Summary

If you have any queries regarding our Best Buy Tables, an account featured or the suitability of the account for your needs, please call Savings Champion on 0800 321 3581

Best Buy Table Best Account(s) Best Rate (Gross)

High Interest Paying Current Account

TSB Bank /
Nationwide Building Society

4.89%

Easy Access

RCI Bank*

1.55%

Fixed Rate Bonds

Bank of Baroda (5 years)

3.05%

Variable Rate ISAs

Teachers Building Society

1.50%

Fixed Rate Cash ISAs

State Bank of India (5 years)

2.60%

Notice Accounts
Charter Savings Bank

1.70%

Monthly Income

State Bank of India (5 years)

2.96%

Regular Savings

First Direct / M&S Bank

6.00%

Children's Accounts

Halifax (Regular Saver)

6.00%

Junior ISAs

Halifax

4.00%

Help to Buy ISAs

Halifax

4.00%

* Deposits held with RCI Bank are covered by the FGDR, which is the French equivalent of the UK Financial Services Compensation Scheme (FSCS). Please contact us if you would like further information.

Our Best Buy Tables are based on whole of market research, independent and have no commercial bias, ensuring that you can rely on them to make an informed decision. Alternatively, please call us on 0800 321 3581 to discuss your savings with one of our expert advisers.