Move fast to grab new Isa at top 1.02pc

CHARTER Savings Bank has launched the third issue of its easy-access cash Isa, at a leading 1.02 pc. It is unlikely to be around for long. Its first version, at 1.06 pc, was on sale for just three weeks.

Leeds BS’s new Limited Issue Online Access Isa pays 1.05 pc. But the account only runs until October 31 next year, when your money is moved into an instant access cash Isa maturity account.

Virgin Money pays 1.01 pc on its Defined Access Isa, but you can only make three withdrawals a year or the rate falls to 0.25 pc.

Other good deals include Ford Money’s Flexible Isa, which pays 1 pc. It lets you take money out without penalty and replace it without affecting your cash Isa allowance for the year. So, if you put in the full £20,000 Isa allowance, you could take out £ 5,000, for example, and replace it before the end of the tax year on April 5.

The top payers from Charter Savings Bank, Leeds BS and Virgin Money do not offer this flexibility, introduced by the Government last year. If you put in the full allowance and then take some out, you cannot replace it.

On fixed-rate cash Isas, Charter Savings Bank upped its rates to 1.3 pc for one year or 1.41 pc for two.

Virgin Money also upped the rate on its two-year Isa to 1.35 pc.