And don't banks know it - they're locked in an 'Isa war', battling to lure savvy bargain-hunting savers onto new juicy teasers.
Great swathes of new Isa launches make it frustratingly tough to pick the best deal as the 6 April end-of-tax-year deadline draws ever closer.
But don't worry - that's where This is Money comes in.
We've hand-picked five accounts we reckon are worth a gander.
Each suits a different type of saver and we've listed the facts, figures and reasons for our choice.
Yes, one or two might mean moving your cash again next year (or later in April if rates have improved), but others are also Steady Eddies that can be left to pootle along on their own.
As always, this is a guide – a taster of the best cash Isa plays for 2011. It's essential that you check This is Money's savings rates tables regularly as well to get a holistic lowdown.
We'll be keeping this page bang up to date as the Isa war rages on through February, March and April.
In no particular order, then, let's get going...
Halifax Isa Direct Reward – 3%
- Facts: Pays 3% variable rate (increased from 2.8% on 28 February) or 3.2% to Halifax current account customers. It's totally instant access – you get unlimited withdrawals above £10 – and there is a tiny £1 minimum balance. After 12 months, the rate drops to 0.5%, so you'll have to move your cash. Transfers in are permitted.
- This is Money says: This isn't the best instant access Isa rate around, but ticks all This is Money's key boxes. The AA is the current table-topper with its 3.35% instant access Isa, Santander offers 3.3% and Barclays 3.25%. But none of them allows transfers in of previous years' Isa savings. For that reason Halifax keeps its place in our five favourites. Savers with no existing Isas or happy to have savings in two different places should seriously consider the Barclays deal for new savings (see below).
Halifax is an Isa winner this year. It launched a pioneering 'Isa promise' last October, guaranteeing to pay interest from the day it receives your transfer application.
That means no loss of interest. It should be an industry-wide practice but sadly isn't; savers lose £3bn a year due to delays, Consumer Focus reckons. Only Nationwide offers the same guarantee, (see below). With economists expecting the Bank of England to hike base rate from 0.5% in May, instant access is a very sensible option for now. If rates rise in the new tax year, you'll be able to take advantage.
Barclays Golden Isa - 3.25%
- [Read a full review here]
- Facts: Currently pays 3.25% variable and is guaranteed to track the Bank of England base rate for twelve months. This account does not allow transfers in, which makes it best for two types of savers: 1) those without an existing Isa pot; 2) savers who haven't yet exhausted this year's £5,100 Isa allowance. You only need £1 to open the account, but this must come from the 2010-2011 allowance. If the account is still open on 6 April, savers can open the Isa using next year's £5,340 allowance. An introductory bonus of 1 percentage point is payable for a year.
- This is Money says: Barclays is our winner for new Isa savings in 2011. Santander actually offers a better rate at 3.3% and also promises to track the Bank of England base rate. Here's the big BUT... Santander has been tainted by reports of dreadful customer service after a nightmarish 2010. The Spanish bank insists it is doing everything to improve.
Look at it this way: on this year's £5,100 you'd earn an £168.30 at Santander. With the Golden Isa you'd earn £165.75. Is that £2.55 worth risking it with Santander? We're still a little nervous on that front - so it missed out on this list. (For those interested, even if you top up with next year's £5,340 allowance on 6 April, it's only £5.01 extra over twelve months.)
The AA offers a better rate than these two for new savers at 3.35% instant access. But it doesn't track the Bank of England base rate. This is worth paying for, too, because economists expect a rate rise in the first half of 2011, with others possible later in the year. If base rate moves up to 1.25% by December - which isn't beyond the realms of possibility, experts say - the Golden Isa will pay an extremely healthy 4% tax-free, which would beat inflation today.
Yorkshire Building Society's two-year fix - 3.5%
- Facts: This is the second-best rate over two years, fixed until 30 April 2013. It pays monthly interest at 3.45%, too. Transfers are allowed and the crown jewel is a short window to add next year's £5,340 Isa allowance between 6 - 30 April. You can only open the Isa at a Yorkshire branch, via post or over the phone on 0845 1200 100.
- This is Money says: This is a nifty little Isa. The ability to top up with next year's £5,340 cash Isa savings will suit savers in a quandary over splitting 2010 and 2011 Isa savings.
Before you dive in, remember that interest rates are expected to rise this year. With this account, you lose 180 days of interest on an early escape, so scarpering for a better deals isn't an option until 2013 – a downside.
On the other hand, some savers will see a fixed 3.5% as peace of mind. And (hopefully) the picture on interest rates might have cleared over the next 48 months.
Santander offers a better two-year rate at 3.7%. If you're a rate tart purist and always switch to the best deal no matter what, don't let us hold you back. But, as above, many of our readers have expressed concern over Santander's Isa transfer processes and service after a howling debacle last year. We're a little cautious. Also, Santander doesn't allow top-ups. When you put those two factors together, Yorkshire's our winner.
Nationwide's four-year Isas (monthly interest) – 4.2% to 4.3%
- Facts: A good number of savers (especially This is Money readers) rely on monthly interest from their Isa pots as a source of income – sometimes to pay essential bills. The only way of getting better returns is by fixing for long periods - four or five years. Nationwide leads the way here. Its four-year range, launched mid-February, pays a 4.2% on balances between £1 and £24,999, and 4.3% if you hold £25,000 or more. Again, this is a branch-based account.
- This is Money says: Many income seekers have crafted substantial nest eggs in Isas over the last 12 years. That means the higher 4.% might come into play here.
Both rates are good enough to beat inflation, which lurks menacingly at 4% (CPI). Good news (the inflation-beater bit), because pensioners who rely on monthly interest to pay bills can't afford to lose spending power.
Other decent monthly options are few and far between, but if you can afford to fix longer, consider Skipton BS below. Like Halifax above, Nationwide has pledged to pay interest from the day it receives a transfer application in its own 'Savings Promise' - a bona fide plus point.
*NEW ENTRY* Aldermore Bank's three-year fix - 4.01%
- Facts: Replacing Skipton's 5% five-year fix, which was withdrawn on 14 March, is Aldermore's three-year 4.01% deal. A minimum initial balance of £1,000 applies, which can be newly deposited or an existing Isa cash transferred in. Aldermore is a new bank in the UK - launched in 2009 - but your cash is fully protected by the Financial Services Compensation Scheme. So rest assured you'd get back 100% of your savings up to the £85,000 limit in the unlikely event Aldermore isn't around in 2014 when this three-year Isa matures.
- This is Money says: Savers who want a an inflation-beating return (measured against the 4% Consumer Prices Index for January) have to lock away their cash for a minimum of three years.
Nationwide offers a slightly better 4.05% over the period, but only on balances above £25,000. Aldermore is next best at 4.01% on above £1,000, which should cater for most Isa savers. A guaranteed 4% until 2014 isn't so terrible for savers craving solid returns. The Japanese natural disaster and Middle East unrest have caused doubts over the economy and, consequently, made a pre-June base rate rise less likely.
You must be sure you won't need the cash during the three-year period, though, as access is not allowed. Those with a £20,000 Isa pot can get £800 a year with this account. Halifax's 3% instant access would pay £600 this year.
If you're transferring a chunky Isa pot, your best bet might actually be to split your cash between instant access and a two or three-year deal for the best of both worlds.
Best of the rest: Isas that got bumped off the list
- Nationwide's Champion Isa - 2.76%. This account tracks the five top branch-based Isas on the High Street from eight different banks. We like the rate security that provides, but the link to the High Street is restrictive because rates are far worse than the top online-only deals. Nationwide adds a 1.21 percentage points to make the Champion Isa somewhat worthwhile for savers, but at 2.76% the rate is still significantly below the best deals above.
- Skipton's five-year fix - 5%. You might have heard mention of this best buy Isa in recent weeks. Sadly, Skipton's withdrawn its 5% - the top UK savings rate for nearly a year - due to 'overwhelming demand'. It leaves just BM Savings' 4.3% as the best five-year deal. Skipton is launching another five-year offer this week. We wait with baited breath...
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