ISA: Winners of 2007/08 ISA prize named
Cash ISA winners named
Thursday, 03 Apr 2008 16:44
The best performing cash ISAs over the last 12 months have been named.
A full cash investment of £3,000 on April 6th 2007 – providing no withdrawals are made – with top placed Alliance & Leicester would now be worth £3,250.58, while at Abbey it would have grown to £3,245.42.
However, both these ISAs demand that savers sign up to other products – the Alliance & Leicester Premier Accounts and the Abbey Guaranteed Growth Plan.
With fewer strings, the Moneyfacts.co.uk figures put Barclays in third place.
Rachel Thrussell, head of savings at Moneyfacts, said: "For those looking for a straightforward no frills cash ISA, Barclays came out on top with its Tax Beater account, but you needed to be quick to snap this one up, as it was withdrawn on May 11th 2007.
"Barclays has continued its strategy of offering a competitive tax free savings account this year, with its Tax Haven ISA paying 6.31 per cent gross, or 6.50 per cent AER when you take into account the monthly interest. If last year is anything to go by, this deal may not be on the shelves for long."
A total of 36 of the top 50 ISAs were with building societies.
The difference between the best and worst ISAs – both curiously from Alliance & Leicester – was £129.20. The average interest earned was £164.51.
Moneyfacts top ten Cash ISAs over 2007/08:
| | Company | Value | Notice or Term |
|---|
| Alliance & Leicester | £3,250.58 Ec | None | Operated by Internet and Telephone. New Premier Current account customers only |
|---|
| Abbey | £3,245.42 | Instant | Must be opened at the same time as a Guaranteed Growth Plan with equal amounts invested in each part. Operated by Internet and Telephone |
| Barclays Bank | £3,204.23 | Instant | - |
|---|
| National Counties BS | £3,184.94 | Instant | - |
|---|
| Bradford & Bingley | £3,184.50 | 1 Year | Fixed rate |
| Scarborough BS | £3,184.50 | 1 Year | Fixed rate |
| Scarborough BS | £3,182.79 | 31.03.09 | Fixed rate |
| National Savings & Investments | £3,182.75 | None | Operated by Internet and Telephone. |
|---|
| Northern Rock | £3,182.04 | 15.04.08 | Fixed Rate. |
|---|
| Egg | £3,181.50 | None | Operated via Internet. |
|---|
| Kent Reliance BS | £3,181.14 | None | Operated by Post |
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