Mini Cash ISA Survey

Money Box compiled a survey on 20 June

Money Box surveyed a selection of Mini Cash Individual Savings Accounts offering fixed and variable rates of interest.

Please contact Isa providers with individual queries.

This survey was compiled on 20 June 2002.

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Mini Cash Isa's with Fixed Rates of Interest

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Cumberland Building Society

Account name: Fixed Interest Fixed Term Cash Isa.

Rate of Interest: 5.2% until 17 May 2005

Minimum Deposit: £3,000

You must close the account to withdraw money.

If you close the acount in the first year there will be 180 days loss of interest. In the second year it is 120 days or 90 days loss in the 3rd year.

Geographical restrictions apply.

A branch locator can be found on the website.

Customer Services: 0800 028 3746

Halifax

Account name: Fixed Rate Halifax Isa Saver.

The rate of interest varies according to the length of fixed term:

1 year fixed = 4.5%
2 year fixed = 5.1%
3 year fixed = 5.3%
4 year fixed = 5.4%
5 year fixed = 5.6%

Minimum Deposit: £3,000.

No further deposits within the investment term.

If you want to access funds within the fixed period you must close the account and lose 180 days interest.

30 days notice is required to close the account.

Julian Hodge Bank

Name of Account: Fixed Rate Mini Cash Isa

The rate of Interest varies according to the length of fixed term:

1 year = 4.7%
2 years = 5.1%
3 years = 5.3 %
4 years = 5.35%
5 years = 5.4%

Minimum deposit: £1,000.

Only one deposit allowed. If you do not use up your full Isa allowance upon opening the account you will lose the portion you do not use.

Restrictions: No access until end of fixed term. Postal account only.

Kent Reliance Building Society

Name of Account: Fixed Rate Fixed Term Mini Cash Isa

Current interest rate:

2 year fix = 4.75%
3 year fix = 5.05%

Minimum deposit: £100

Money can be accessed within the fixed term but with a loss of 100 days interest.

Norwich & Peterborough Building Society

Account name: 5 Year Fixed Rate Mini Cash Isa

Current interest rate: 5.4% fixed for 5 years

Minimum deposit: £3,000

Restrictions: Can access funds within fixed term but with loss of 120 days interest. Do not accept transfers in.

Portman Building Society

Account name: 2 Year Fixed Rate Isa

Interest Rate: 5% fixed to 30 April 2004

Minimum Balance: £3,000.

You must close the account to gain access to your money within fixed term with 90 days loss of interest.

Liverpool Victoria

Account name: Guaranteed Interest Isa

The rate of interest varies according to the length of fixed term:

One year
£500 - £2,499 = 4.10%
£2,500 - £9,999 = 4.30%
£10, 000 and over = 4.40%

Two years
£500 - £2,499 = 5.20%
£2,500 - £9,999 = 5.40%
£10,000 and over = 5.50%

Three years
£500 - £2,499 = 5.10%
£2,500 - £9,999 = 5.30%
£10,000 and over = 5.40%

Four years
£500 - £2,499 = 5.45%
£2,500 - £9,999 = 5.65%
£10,000 and over = 5.75%

Five years
£500 - £2,499 = 5.00%
£2,500 - £9,999 = 5.20%
£10,000 and over = 5.30%

Minimum deposit: £500 Restrictions: At discretion of Liverpool Victoria

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Mini Cash Isa's with Variable Rates of Interest

The following variable rate Isa products are open to new and existing customers but better rates are often available to existing customers so please check with your bank/building society for details.

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Cheltenham & Gloucester

Name of Account: C & G Cash Isa
Current Rate of Interest: 4.50%
Minimum deposit: £100
Access: Instant
Operation: Branch & Postal
Restrictions: Further addition or withdrawals must be £100 or over

Customer Service: 0800 2263 41

Julian Hodge Bank

Account name: Variable Rate Mini Cash Isa
Current Rate of Interest: 4.55% (Always ¼% above Bank of England base rate)
Minimum deposit: £250
Access: 3 months notice
Operation: Postal
Restrictions: None

Customer Service: 0800 028 3746

Kent Reliance Building Society

Name of Account: Mini Cash Isa
Current Rate of Interest: 4.4%
Minimum deposit: £1
Access: Instant
Operation: Branch & Postal
Restrictions: None

Customer Service: 0800 783 4248

Monmouthshire Building Society

Account name: Mini Cash Isa
Current Rate of Interest: 4.45%
Minimum deposit: £10
Access: Instant
Operation: Branch & Postal
Restrictions: None

Customer Service: 01633 844 444

Principality Building Society

Account name: Cash Isa Account
Current Rate of Interest: 4.3%
Minimum deposit: £100 within Wales or £2,500 throughout rest of UK
Access: 30 days
Operation: Branch
Restrictions: Earlier access on 30 day loss of interest

Customer Service: 029 2023 44 77

Shepshed Building Society

Account name: Mini Cash Isa
Current Rate of Interest: 4.4%
Minimum deposit: £100
Access: 60 day notice
Operation: Branch & Postal
Restrictions: Earlier access on 60 day loss of interest

Customer Service: 01509 822 000

Tipton & Coseley Building Society

Account name: Mini Cash Isa
Current Rate of Interest: 4.35%
Minimum deposit: £1
Access: 7 days notice
Operation: Branch & Postal
Restrictions: No earlier access

Customer Service: 0121 557 2551