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Rate Alerts

Regular updates on the savings market

🔔 New Tax Year - What are the Best Savings Rates?

Author: Anna Bowes
08th April 2016

Savings Champion Rate Alert

Friday 8th April 2016

Latest News


The new tax year is finally upon us, meaning that savers can once again deposit up to £15,240 into a tax free savings account (ISA).

This year we have seen very little in the way of an 'ISA Season' as such, but for those looking for the best rates, please take a look at our Fixed Rate ISA and Variable Rate ISABest Buy Tables.

Provider Account Name Balance AER

Teachers Building Society

Cash ISA Notice 90 (Issue 5)

£100+

 1.50%

Clydesdale Bank

Cash ISA - 40 Day Notice

£15,000+

 1.50%

Aldermore

1 Year Fixed Rate Cash ISA

£1,000+

 1.50%

Aldermore

2 Year Fixed Rate Cash ISA

£1,000+

 1.75%

Bank of Cyprus UK

3 Year Fixed Rate Cash ISA

£500+

 1.85%
Click Here for all Best Buy Tables »

The 6th of April marked the beginning of the new Personal Savings Allowance (PSA) which means that for basic rate taxpayers, the first £1,000 of interest earned on their savings will be tax free which for higher rate taxpayers, it’ll be the first £500. For more information on what the PSA is and to see how this will affect you, here is our handy Personal Savings Allowance Factsheet.

In the meantime, please see below some of the best accounts on the market.

 
Provider Account Name Balance AER

TSB

Classic Plus

£1 - £2,000

4.89%

Nationwide Building Society

 FlexDirect Current Account

£1 - £2,500

4.89%

Santander

123 Current Account

£3,000 - £20,000

2.96%

RCI Bank

Freedom Savings Account

£100+

1.45%
Click Here for all Best Buy Tables »