Savers have just a few hours left to use their cash Isa allowance for this tax year.
At midnight tonight — the end of the tax year — you will lose that allowance, which enables you to put up to £20,000 into a cash Isa and earn interest, tax-free.
Many of the best accounts have already been withdrawn. But there are still some good rates on offer that can be opened and funded today.
Isas: There are still some good rates on offer that can be opened and funded today
Opening an account online is the easiest way to do it. With some providers, this can take five to ten minutes — if the bank or building society can carry out identity checks electronically.
You can also apply in the branches of some High Street banks and building societies up until closing time today.
If you do not already hold an account with your chosen provider, you will have to go through the usual identity checks.
To avoid this, you could open an easy-access Isa with a bank or building society where you have an account and they have already run the identity checks.
Then, once it is open, you can transfer it to another provider with a better rate. Some will take applications up until 10pm tonight — leaving a couple of hours for the money to wing its way into your account. It has to be there by 11.59pm tonight.
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 an account must be opened and the money deposited by 10.30pm. You can still open a cash Isa at branches of Halifax, Nationwide, Coventry BS, Skipton and Leeds BS.
Yorkshire BS says existing customers can open an account today online or in branches. If you don’t have an account with it already, you are too late.
Make sure you have the right documents to hand when you apply online — you need to give your address and phone details and your current account information, email add-ress and your National Insurance number. As a new customer in a branch, you’ll also need proof of address and identity.
Among the best easy-access deals is the Santander e-Isa at 3.2 per cent. If you are tempted by this, then make a diary note to move your money in a year’s time because the rate will drop dramatically then.
Marcus account pays 3.2 per cent from today, including a 0.25 point bonus which is payable for a year.
Yorkshire BS pays a better 3.35 per cent from today on its Limited Access Isa, which allows you to make withdrawals on one day a year. And for existing members, its Loyalty Six Isa pays 4.25 per cent on up to £20,000, and allows six withdrawals a year.
Coventry BS Limited Access Isa (Online) pays 3.25 per cent and lets you make six withdrawals a year. Hargreaves Lansdown offers this Isa on its Active Savings platform and existing clients could get a £100 bonus.
Other top easy-access accounts still available include Virgin Money’s Easy Access Cash Isa for its current account holders, Skipton’s Cash Isa Tracker, Nationwide 1 year Triple Access Online Isa (maximum three withdrawals), all at 3 per cent.
NS&I pays a lower 2.15 per cent. Halifax Isa Bonus Saver pays a slightly higher 3.1 per cent, although you can only make four withdrawals.
Santander has a one-year fixed rate cash Isa at 4.15 per cent or 4.25 per cent for 18 months. Halifax pays 4.1 per cent for one year and Virgin 4.26 per cent for two years.
We are not including accounts with bonuses or limited withdrawals in our best buy easy-access tables, but keep you informed of the top rates.
From tomorrow, you will have a new £20,000 Isa allowance for the new tax year, which runs from April 6, 2023 until April 5, 2024.
