If you are looking for the highest cash ISA rates then you have to search the whole market and be careful about introductory deals that might see you end up with a lower rate after a year. To get the best cash ISA rates you should think about whether or not you want to be switching ISAs every year or if you want a stable and easy to manage account.

Cash ISA rates depend almost entirely on the Bank of England base interest rate but many ISA companies will try and tempt new customers into opening an account by offering cash ISA rates far in excess of this BoE rate for a year or six month but then it could drop below other ISAs after this period is up. So before you open a cash ISA you have to ask yourself whether you really want to be constantly looking for the best cash ISA rates or if you'd like an ISA you can always trust to have a high rate.

If you are looking for the highest cash ISA rates then you may want to consider a maxi ISA as some companies will offer a higher cash ISA rates to entice people into a maxi ISA. This does mean, however, that you will need to invest some money in shares but at least if you make some gains from them it will again be tax free. And there are also managed ISA funds where you can benefit from the highest cash ISA rates without needing any knowledge of the stock market.