Money Saving Tips

Cash Isas: The best offers for 2009 After the Government announced its intention to raise the Isa limit to £10,200 in April, savers can now use up their full £3,600 cash Isa allowance before April 2010, or £5,100 allowance for the over-50s. After the end of the last tax-year's Isa season, the rates on tax-free cash Isas have been far better than present rates on the general variable rate savings market. Since the Bank of England slashed bank rate to 0.5% last month, (the best rate from variable), the best cash Isa rate from RBS and NatWest is 3.51%. According to price comparison website Moneyfacts.co.uk. the best cash Isa over the past year comes from National Counties Building Society. Its rate is currently just 1.81% and the other best performers over the last 12 months - from Loughborough Building Society, Barclays and Egg - are no longer open to new customers. The RBS Cash Isa Plus, does not allow transfers, but stands equally the same rate – the NatWest e-Isa – does, but all transfers have to be over £10,000 in value to access the top rate. You can still invest in the e-Isa with a minimum as £1, but the rate then falls to 3.25%. The First Direct e-Isa has a rate of 3.1% fixed until April 2010, while Halifax Isa Direct Reward has 3% on deposits over £1,000, with the rate fixed for the first 12 months. There has to be always £1,000 in the account and savers should not make more than four withdrawals. Bonus cash Isas Barclays Golden Isa has the best rate on the market at 3.61%, with a bonus of 1% for the first 12 months. High Street supermarket Marks & Spencer follows with a rate of 3.1%, also with a 1% bonus. ING Direct has a cash Isa with a rate of 3%, but this carries a large bonus rate of 1.47% for the first 12 months, falling to an unimpressive 1.53% after this. Fixed rate cash Isas Chelsea Building Society has recently launched the best one-year fixed-rate Isa on the market at 3.25%, although savers must deposit more than £7,200 and this must come from money already in Isa accounts. Lloyds TSB is close behind with a cash Isa at 3.2%, but savers must have more than £30,000 to invest. Principality, over two years with a rate of 3.3% and Leeds, three years at 3.25%. Halifax has four-year cash Isa on the market at 3.3%. The best one-year Isa was from Bradford & Bingley at 6.25%, followed by the private bank Julian Hodge Bank at 6.15%. Regular saver Isas Britannia Building Society has a regular saver that pays 3.1% if you set aside between £10 and £250 per month. Rates on taxed regular savers are much better with a regular saver from Barclays offering 6% and Halifax 4%. The best is the First Direct Regular Saver Isa at 7% on savings between £25 and £300 set aside per month, but you must be a First Direct 1st Account holder to open this account.