The Cash ISA is simply just the same as other savings account but with tax free interest paid. All you need to do, is place your cash into a savings account. These are designed for long term savers who also have a separate current account.

We at pension calculator look at the best 5 cash ISAs using unbiased independent information and update our data every month. This is to give you the information to help you choose the best rates tailored to you and your families needs.

At pension calculator, we update our information monthly, whereas banks and building societies are constantly changing interest rates and small print.

We strongly advose you to look at the terms and conditions of each account before opening a cash ISA. It is important to make the most of your account, however, whilst a high interest rate is always good, you may find that the terms and conditions are in fact much worse for you than another account with a 0.5% lower interest rate.

The amount which you can put into your ISA is limited every year, but you can take out a Cash ISA whenever you want. The limit has increased in the past few years to £5,340 from £3,000 a year in 2010. The more you invest, the more you saveThe amount of money you can save by having a Cash ISA over a with a cash ISA, and are available to anyone aged 16 and over in the UK.

Due to inflation savings can be eroded, having money locked away in an account with interest 2 or 3% below inflation will lose you money. One of the great things about cash ISAs is that they are tax-intelligent, saving you money.