Savers only have a few hours left to use their Isa cash balance for this tax year.
At midnight tonight – the end of the tax year – you lose that allowance, which allows you to deposit up to £20,000 in a cash Isa and earn interest, tax-free.
Many of the best accounts have already been withdrawn. But there are still some good rates that can be opened and funded today.
Isas: There are still some good rates that can be opened and funded today
Opening an account online is the easiest way to do this. With some providers, this can take five to ten minutes if the bank or building society can perform the identity checks electronically.
You can also apply today until closing time in the branches of some High Street banks and building societies.
If you don’t already have an account with your chosen provider, you’ll need to go through the usual identity checks.
To avoid this, you can open an easily accessible Isa with a bank or building society where you have an account and they have already done the identity checks.
Then, once it’s open, you can transfer it to another provider with a better rate. Some applications can be submitted until 10pm tonight – it will take a few hours for the money to be in your account. It should be there tonight at 11:59 PM.
Coventry BS, National Savings & Investments (NS&I), Virgin Money, Halifax, Nationwide, Skipton and Hargreaves Lansdown Active Savings platform all have this late deadline.
With Santander, which offers top rates, you must open your account before 9pm.
Marcus (by Goldman Sachs) says to open an account at 10:30 pm and deposit the money. You can still open a cash Isa at Halifax, Nationwide, Coventry BS, Skipton and Leeds BS branches.
Yorkshire BS says existing customers can open an account online or in branches today. If you don’t have an account yet, you’re too late.
Make sure you have the correct documents ready when applying online – you will need to provide your address and telephone details as well as your current account details, email address and social security number. As a new customer in a branch, you also need an address and proof of identity.
One of the best easily accessible deals is the Santander e-Isa at 3.2 percent. If you are tempted by this, make a journal entry to move your money in a year’s time, as the rate will drop dramatically.
Marcus account pays 3.2 percent starting today, including a 0.25 point bonus paid for one year.
Yorkshire BS pays a better 3.35 per cent on its Limited Access Isa as of today, which allows you to withdraw money one day a year. And for existing members, the Loyalty Six Isa pays 4.25 per cent on up to £20,000, and allows six withdrawals per year.
Coventry BS Limited Access Isa (Online) pays 3.25 per cent and lets you do six withdrawals a year. Hargreaves Lansdown offers this Isa on its Active Savings platform and existing customers can get a £100 bonus.
Other easy access accounts still available include Virgin Money’s Easy Access Cash Isa for current account holders, Skipton’s Cash Isa Tracker, Nationwide 1 Year Triple Access Online Isa (up to three withdrawals), all at 3 percent.
NS&I pays a lower 2.15 percent. Halifax Isa Bonus Saver pays a slightly higher 3.1 percent, although you can only make four withdrawals.
Santander has a one-year fixed rate Isa of 4.15 percent or 4.25 percent for 18 months. Halifax pays 4.1 percent for one year and Virgin 4.26 percent for two years.
We do not include accounts with bonuses or limited withdrawals in our best buy easy-access tables, but we will keep you updated on the top rates.
From tomorrow you will have a new Isa benefit of £20,000 for the new tax year, which runs from 6 April 2023 to 5 April 2024.
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