The Best ISA Rate This Week 05.11.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 05/11/2020

This week saw many of the top fixed ISA rates remain, but savers looking for the flexibility of an easy access ISA will be disappointed to see that last week’s second and third-best easy ISA rates are no longer available in the charts today. This highlights how fluid the ISA market is at the moment, and with the Bank of England’s announcement today, which will see further quantitative easing, savers should act quickly to secure the best rates in the charts.

It should be noted that the rates below are the best rates available at 12pm on Thursday 5 November 2020 and, although correct at the time of publishing, they may not be available after this time.

The best fixed rate ISA savings rates

Provider Account Term Rate AER
UBL UK 5 Year Fixed Rate Cash ISA Five years 1.40%
UBL UK 3 Year Fixed Rate Cash ISA Three years 1.10%
Newcastle Building Society Two Year Fixed Rate ISA (Issue 53) 22.12.22 0.95%
Newcastle Building Society One Year Fixed Rate ISA (Issue 37) 22.12.21 0.85%

 

Remaining at the top of the fixed rate ISA chart this week was UBL UK, which had the best-paying five and three year fixed rate ISAs. Its 5 Year Fixed Rate Cash ISA pays 1.44% gross on maturity, and also offers versions that pay 1.40% gross on anniversary and 1.39% gross quarterly or monthly. Its 3 Year Fixed Rate Cash ISA pays 1.11% gross on maturity, and offers versions that pay 1.10% gross on anniversary or quarterly and 1.09% monthly. All options require a £2,000 minimum deposit to open. Transfers in from cash ISAs are accepted. These ISAs can be opened in branch or by post, but must then be managed by post.

Newcastle Building Society had the top rate in the two and one year fixed rate ISA chart this week. Its Two Year Fixed Rate ISA (Issue 53) pays 0.95% gross yearly or monthly, and its One Year Fixed Rate ISA (Issue 37) pays 0.85% gross yearly or monthly. Both ISAs require a £500 minimum deposit to open and accept transfers in. They must be opened in branch but can then be managed online, in branch, by post and by phone.

Compare the best fixed rate ISAs

All the rates available can be found on our fixed rate ISA chart.

The best easy access ISA rates

Provider Account Notice Rate AER
Ford Money Flexible Cash ISA None 0.65%

Al Rayan Bank

Bath Building Society
Gatehouse Bank

Kent Reliance

Scottish Building Society

Instant Access Cash ISA (Issue 2)
Instant ISA
Easy Access Cash ISA

Cash ISA – Easy Access – Issue 24
Loyalty Cash ISA (New customers)

Instant

Instant
None

Instant

Instant

0.60% (expected profit rate)
0.60%
0.60% (expected profit rate)
0.60%

0.60%

 

The best easy access ISA rate this week came from Ford Money, which pays 0.65% gross on anniversary or monthly on its Flexible Cash ISA. To open this ISA, a £1 minimum deposit is needed. It allows unlimited further additions and withdrawals can be made at any time. Transfers in are accepted. This ISA can be opened online or by phone but must then be managed online.
Five ISAs offer the second-best easy access ISA rate without opening restrictions this week. Al Rayan Bank pays an expected profit rate of 0.60% gross monthly on its Instant Access Cash ISA (Issue 2). A £50 minimum deposit is needed to open this ISA, which allows unlimited further additions and withdrawals. Transfers in are accepted. This ISA can be both opened and managed online, in branch, by post, by phone and via mobile app.

Bath Building Society pays 0.60% gross yearly on its Instant ISA, which requires a £1 minimum deposit to open. Unlimited further additions and withdrawals are allowed. Transfers in from cash ISAs are accepted. This ISA can be both opened and managed in branch and by post.
Gatehouse Bank’s Easy Access Cash ISA requires a £1,000 minimum deposit to open and pays an expected profit rate of 0.60% gross on anniversary. This ISA allows unlimited further additions and withdrawals can be made at any time. It accepts transfers in. The ISA must be opened and managed online.

Kent Reliance pays 0.60% gross yearly or monthly on balances of £1,000 on its Cash ISA – Easy Access – Issue 24. A lower rate of 0.10% is paid on opening deposits of £1. It allows unlimited further additions and withdrawals can be made at any time, but the withdrawal method is dependent on how the account is opened. Transfers in are accepted but requests must be made within 30 days of account opening. This ISA can be opened online, in branch or by post and then managed online, in branch, by post and by phone.

Scottish Building Society’s Loyalty Cash ISA (New customers) pays 0.60% gross yearly on a £1 minimum opening deposit. This ISA permits unlimited further additions and withdrawals. It accepts transfers in. The ISA can be both opened and managed in branch and by post.

Compare the best easy access ISAs

All the rates available can be found on our easy access ISA chart.

The best notice ISA rates

Provider Account Notice Rate AER
Teacher Building Society Education ISA (Issue 1) 90 days 1.00%
Earl Shilton Building Society
Mansfield Building Society
90 Day Notice Cash ISA
90 Day Notice Cash ISA (2nd Issue)
90 days
90 days

0.75%

0.75%

Teachers Building Society Cash ISA Notice 90 (Issue 10) 90 days 0.70%

 

The top notice ISA rate this week came from Teachers Building Society, which pays 1.00% gross yearly on its Education ISA (Issue 1). This ISA is only available to teachers and other education professionals. It allows unlimited further additions. Withdrawals can be made subject to 90 days’ notice. External transfers in are accepted. This ISA can be both opened and managed online and by post.

Earl Shilton Building Society and Mansfield Building Society both paid the second-best notice ISA rate this week. Earl Shilton Building Society’s 90 Day Notice Cash ISA pays 0.75% gross yearly and requires a £10 minimum deposit to open. This ISA is only available to existing customers or those within certain postcodes. It allows unlimited further additions. Withdrawals can be made subject to 90 days’ notice, or if notice is not given, earlier access is permitted subject to 90 days’ loss of interest. Transfers in are not accepted. It can be both opened and managed in branch and by post. Mansfield Building Society pays 0.75% gross yearly on its 90 Day Notice Cash ISA (2nd Issue). A £1 minimum deposit is needed to open this ISA. Further additions are allowed while the issue remains open. Withdrawals are permitted subject to 90 days’ notice or, if notice is not given, earlier access is allowed subject to 90 days’ loss of interest. Transfers in are accepted. It can be both opened and managed in branch and by post.

The third-best notice ISA rate this week came from Teachers Building Society, which pays 0.70% gross yearly on its Cash ISA Notice 90 (Issue 10). This ISA allows unlimited further additions. Withdrawals must be made via Faster Payments Service to a nominated account and subject to 90 days’ notice. Transfers in are accepted. It can be both opened and managed online and by post.

Compare the best notice ISAs

All the rates available can be found on our notice ISA charts.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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