SYLVIA MORRIS: This little-known Isa tip lets you lock in a top rate AND keep your cash accessible… don’t miss out

Savers usually face a dilemma between locking away their money for a year or more to get a good interest rate or keeping it in an easy-access account and putting up with a much lower one.

But there is a breed of little-known accounts that pay a good rate – and don’t involve tying your money up.

Notice accounts pay as much as 4.3 pc – considerably better than most easy-access accounts that typically pay less than 4 per cent.

A notice account means you give the bank or building society warning when you want to take money out – usually 40 or 60 days.

You could switch some of your easy-access cash Isa money into these to run side-by-side.

There is a breed of little-known ISA accounts that pay a good rate – and don’t involve tying your money up

A new account from Aldermore Bank pays 4.3 pc and asks for 60 days’ notice. It joins Paragon Bank which pays 4.15 per cent if you are willing to give 40 days’ notice.

Both are flexible in that you can take money out and replace it in the same tax year without the move counting towards your overall £20,000 annual cash Isa allowance. 

Both, in line with Isa rules, let you have immediate access rather than sitting out the notice period – but for a fee. 

Aldermore charges 60 days’ interest which brings the rate on any money you do take out without giving notice to 3.6 per cent. 

At Paragon, it’s 40 days, reducing the rate to around 3.7 per cent. 

An alternative to a notice account is an easy-access account which limits the number of withdrawals you make each year. 

Vida Savings pays 4.11 per cent on its Defined Access Isa 3 which allows a comparatively generous four withdrawals a year. 

Aldermore Double Access Issue 3 pays 4.2 per cent and allows just two withdrawals.

On the high street, Coventry’s 5 Access Isa offers a more generous 4.15 per cent and lets you make five withdrawals.

Trading 212’s easy-access cash Isa* is flexible and pays 4.38 per cent, the top rate for an easy-access rate on the market. 

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