Money saving: The best NISAs on the market

The cash ISA has now become the NISA – they're basically the same thing except you can now deposit more than the old amount of £5,940.


by Jack White |
Published on

The great thing about NISAs is that any interest you earn is tax free. For example, if you earned £100 interest in a regular savings account you would only see £80 of that.

But with a NISA you keep the whole £100. Any money you deposit into your NISA, and any interest earned, remains cash free for as long as it's in there. So you money really is your money.

With NISAs you can deposit up to £15,000 a year and the slate is wiped clean at the start of every new tax year.

Here's the best on the market:

Post Office

Best for: Easy access

Rate: 1.55% AER variable Minimum deposit: £100 Interest paid: Annually

You can only make two withdrawals throughout the tax year, and if you make more then you'll either reed to transfer or close the account.


Virgin Money

Best for: Long term

Rate: 2.25% Minimum deposit: £1 Fixed term: Three years Withdrawal penalty: 120 days' interest


Rate: 2.2% Minimum deposit: £1 Fixed term: Four years Withdrawal penalty: 320 days' interest

Newcastle BS

Best for: No access

Rate: 2.57% AER variable Minimum deposit: £0 (Penalty if you deposit £0 per month)** Interest paid:** Monthly Access: No

Just so you know, whilst we may receive a commission or other compensation from the links on this website, we never allow this to influence product selections - read why you should trust us