With the autumn ISA season now coming to an end, savers will be disappointed to see that despite it being traditionally a time of competitive rates, ISA rates have actually fallen over the last few months.
Research carried out by Moneyfacts.co.uk found that since the 1 September 2019 to today, ISA rates for all terms have fallen with the biggest drop coming from two year fixed rate ISAs, which fell by 0.15%, while easy access ISAs saw the smallest fall of 0.05%. To put this in context, at the start of September, savers could get an average rate of 0.93% on easy access ISAs, 1.27% on one year fixed ISAs, 1.3% on two year fixed ISAs and 1.75% on five year fixed ISAs. Today, the average rate for an easy access ISA is 0.88%, a one year fixed ISA is 1.17%, a two year fixed ISA is 1.15% and a five year fixed ISA is 1.61%.
Currently, easy access ISAs have the most deals with 150 products available, an increase from 149 on the market at the start of September. There has also been an increase in products in the two and five year fixed ISA charts, with 79 two year fixed ISA products and 31 five year fixed ISA products available, an increase from 71 and 29 products respectively. However, one year fixed ISAs saw the total number of products fall during the autumn ISA season, from 71 available at the start of September to 68 available today.
| |
1 Sept rate |
Today’s rate |
1 Sept number of products |
Today’s number of products |
| Easy access ISA |
0.93% |
0.88% |
149 |
150 |
| One year fixed ISA |
1.27% |
1.17% |
71 |
68 |
| Two year fixed ISA |
1.3% |
1.15% |
71 |
79 |
| Five year fixed ISA |
1.75% |
1.61% |
29 |
31 |
