8 Best Fixed Rate Cash ISAs

The top-paying savings accounts are those that lock your money away for up to five years. Tax-efficient ISA accounts make sure you earn the most income possible

Emma Wall 11 March, 2014 | 12:24PM
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Fixed rate ISAs offer the highest paying interest rates, and let you keep all of the interest paid. If you can afford to lock your money away out of reach do so; the longer you lock your cash away the higher the interest rate reward.

Cash is an essential part of any investor’s portfolio. It helps provide liquidity and hedges against stock market volatility. It makes sense to ensure your cash is working as hard for you as your investments – and the best way to actively manage your cash is to seek out the best paying cash ISA.

This year you can shield up to £5,760 from the taxman in a cash ISA, but hurry as you only have until April 5 to use your allowance. Investors who have accrued cash ISA savings in previous tax years can transfer previous savings into the new cash ISA account in order for the whole pot to benefit from the new interest rate. Just look for cash ISAs that allow transfers in.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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