Act fast to snap up top paying Isa

Skipton BS has launched a toppaying easy-access cash isa — though it is unlikely to be on sale for long.

its Limited Edition Cash isa pays 1.6 pc tax-free and you can transfer your existing cash isas into the account. Available online only, there is no bonus and no withdrawal restrictions.

West Bromwich BS has raised the rate on its Websaver Limited Access isa to 1.55 pc. there is no bonus, and you are limited to three withdrawals a year.

other top deals include national Savings & investments Direct isa at 1.5 pc, available over the phone or internet. But you cannot transfer your existing cash isas into this account.

the post office premier isa, available only on the High Street, pays 1.4 pc. the account comes with a bonus for the first 18 months, after which the rate drops to 0.65 pc.

With Virgin Money Defined Access account, you earn 1.41 pc with no bonus, but you are restricted to three withdrawals a year. it’s available in the High Street and over the internet.

on fixed-rate deals, Shawbrook Bank pays a top 1.7 pc, followed by Virgin Money and Aldermore Bank, both at 1.65 pc for one year. For two years, Shawbrook pays 1.95 pc.

Among the best High Street deals are kent Reliance at 1.85 pc and Skipton and Mansfield building societies, both at 1.75 pc. Barclays pays 1.71 pc.

You can put £15,240 into a cash isa this tax year, which runs until April 5 next year, and earn tax-free interest.

You don’t have to put it all in at once, but can set up a regular savings plan into an easy-access account.