Cash ISA Guide 2017-18
Make the most of your 2017-18 Cash ISA allowance
ISAs (Individual Savings Accounts) are one of the only means of saving without having to give a cut of the profits to the taxman.
To make the most of your cash ISA allowance, you can choose the right kind of savings product to suit your needs. If you want the highest savings rates, then there is a range of fixed rate cash ISA of 1-5 years. Or if you don't want to lock your money away, you can opt for an instant access cash ISA. Alternatively, you can use structured deposit ISAs which offer potentially higher returns than fixed rate savings, but these returns are dependent on the performance of an index, such as the FTSE 100. Use the tables below to compare our latest selections of market-leading cash ISAs:
|Provider||Plan Name||Deposit Taker||ISA Option||Term||Maximum Potential Return||More Info|
|FTSE 100 6 Year Deposit Plan||Investec Bank plc||6 years|
at end of term
|More Info >|
|FTSE 100 Kick Out Deposit Plan||Investec Bank plc||Up to|
|More Info >|
|6 Year Defensive Deposit Plan||Investec Bank plc||6 years|
at end of term
|More Info >|
Important Information: Structured deposits offer you the potential to earn higher returns than you would with a regular savings account. Your returns are based on the performance of an index or commodity. If the investment does not perform well you may receive no income or capital growth, but you can be confident that your capital will be repaid. You have no access to your deposit during the term of the account, typically 3 to 6 years but your original capital will be repaid in full at the end of the term. In the event that the deposit taker is unable to repay your initial investment and any returns stated you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) depending on your individual circumstances.
Transferring previous years’ cash ISA savings into an ISA account with a higher rate could significantly boost any tax-efficient interest you earn. Transferring is easy, but you must make sure that you transfer properly.
If you encash your previous years’ ISA allowances they will lose their tax exempt status and you will undo your previous good work. All you need to do is request a transfer form for the new account, fill it in, and your new ISA provider should do the rest for you.
You may wish to consolidate any existing ISAs into one new ISA account to maximise any increased returns, because some cash ISA providers offer tiered interest rates, so the more you save the higher interest rate you get. Another thing to bear in mind is that you can transfer your existing cash ISAs into stocks & shares ISAs, but not the other way round, so once your cash ISA has become a stocks and shares ISA, you can't change it back.
The earlier you save your ISA allowance in a tax year, the more time there is for it to generate interest, protected from tax.
There is a wide range of savings options to choose from for your cash ISA allowance. use the tables we've provided to discover some of the latest deals on fixed rates, instant access and structured deposit alternatives.
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested.
Investments in Stocks & Shares ISAs do not contain the same degree of capital security as investments in deposits. Stocks and shares ISAs are designed as medium to long term investments of, for example, five years or more. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.