The Best ISA Rate This Week 11.03.21 | moneyfacts.co.uk

Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.

MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Derin Clark

Derin Clark

Online Reporter
Published: 11/03/2021

Time is running out to make the most of the 2020/21 ISA tax allowance and savers wanting to use up their allowance should act quickly to secure the best deals. Savers looking for competitive ISA deals will be disappointed to see that there has not been much change at the top of the ISA charts this week and it is looking highly unlikely that there will be a competitive ISA season this year.

Savers should also note that the rates below are the best rates available at 12pm on Thursday 11 March 2021 and, although correct at the time of publishing, they may not be available after this time.

An alternative to a cash ISA could be a stocks and shares ISA, which offers the same tax-free allowance, although savers should be aware these are a much riskier option and are normally only suited to long term investors. More information about can be found on our stocks and shares ISA page

The best fixed rate ISA savings rates

Provider Account Term Rate AER
Shawbrook Bank 7 Year Fixed Rate Cash ISA Bond Issue 3 Seven years 1.25%

Gatehouse Bank

UBL UK

5 Year Fixed Term Green Cash ISA
5 Year Fixed Rate Cash ISA

Five years

Five years

1.15% (expected profit rate)
1.15%
Gatehouse Bank 3 Year Fixed Term Green Cash ISA Three years 0.80% (expected profit rate)
State Bank of India 2 Year Cash ISA Fixed Deposit Two years 0.65%
Cynergy Bank Loyalty Fixed Rate Cash ISA One year 0.55%

 

This week, Shawbrook Bank continued to offer the top-paying fixed rate ISA with its 7 Year Fixed Rate Cash ISA Bond Issue 3 paying 1.25% gross on anniversary. This ISA requires a £1,000 minimum deposit to open and transfers in are accepted. It must be opened online but can be managed online and by phone. There is also a version of this ISA that pays interest monthly at a reduced gross rate.

Both Gatehouse Bank and UBL UK topped the five year fixed rate ISA chart this week. Gatehouse Bank’s 5 Year Fixed Term Green Cash ISA pays an expected profit rate of 1.15% gross on anniversary. The ISA requires a £1,000 minimum deposit to open and includes the incentive of Gatehouse Bank planting a tree in a UK woodland when an account is opened and funded – the trees are planted in UK woodland projects certified by the UK Government’s Woodland Carbon Code. It accepts transfers in. This ISA can only be opened and managed online. UBL UK’s 5 Year Fixed Rate Cash ISA pays 1.15% gross on anniversary and quarterly, there are also versions of this ISA that pay 1.18% gross on maturity and 1.14% gross monthly. All options require a £2,000 minimum deposit to open. Transfers in from cash ISAs are accepted. The ISA can be opened in branch or by post and then managed by post.

Topping the three year fixed rate ISA chart this week was Gatehouse Bank, which pays an expected profit rate of 0.80% gross on anniversary. To open this ISA, a £1,000 minimum deposit is needed. It has the benefit of Gatehouse Bank planting a tree in a UK woodland when an account is opened and funded – the trees are planted in UK woodland projects certified by the UK Government’s Woodland Carbon Code. This ISA accepts transfers in. It must be opened and managed online.

The top two year fixed rate ISA came from State Bank of India, which pays 0.65% gross on maturity on its 2 Year Cash ISA Fixed Deposit. This ISA requires a £5,000 minimum deposit to open and a new State Bank of India current or savings account is needed. It accepts transfers in from cash ISAs. The ISA can be both opened and managed online, in branch and by post.

Although Cynergy Bank had the top-paying one year fixed rate ISA, with its Loyalty Fixed Rate Cash ISA paying 0.55% gross on anniversary. This ISA is only available to existing customers of six months or more. For those eligible, this ISA requires a £500 minimum deposit to open and accepts transfers in from cash ISAs. It must be opened online and can then managed online, by post and by phone. For those not eligible, the next best rate in the one year fixed ISA chart is 0.50% AER, which is paid on ISAs offered by Tipton & Coseley Building Society and West Brom Building Society. More information about these ISAs can be found on our one year fixed ISA charts.

Compare the best fixed rate ISAs

The best easy access ISA rates

Provider Account Notice Rate AER
Al Rayan Bank Instant Access Cash ISA (Issue 2) Instant 0.60% (expected profit rate)
Virgin Money Easy Access Cash ISA Exclusive Issue 1 Instant 0.50%

 

Al Rayan Bank continued to top the easy access ISA chart this week, with its Instant Access Cash ISA (Issue 2) paying an expected profit rate of 0.60% gross monthly. This ISA requires a £50 minimum deposit to open. It allows further additions and withdrawals. Transfers in are accepted. The ISA can be both opened and managed online, in branch, by post, by phone and via mobile app.

The next best easy access ISA rate came from Virgin Money this week, with its Easy Access Cash ISA Exclusive Issue 1 paying 0.50% gross yearly. No minimum deposit is needed to open this ISA, although savers should be aware that it is only available to Virgin Money, Clydesdale Bank or Yorkshire Bank current account customers from 4.12.19. This account allows further additions and withdrawals. Transfers in are accepted. It can be opened online or in branch and then managed online, in branch, by post, by phone and via mobile app.

A total of 10 providers offered the third-best easy access ISA rate of 0.40% AER this week. These providers are Paragon Bank, Charter Savings Bank, Leeds Building Society, Marsden Building Society, Nationwide Building Society, Progressive Building Society, Stafford Railway Building Society, Tipton & Coseley Building Society, Vernon Building Society, and Yorkshire Building Society. 

Savers interested in these ISAs should visit our easy access ISA chart for more information about their terms and conditions.

Compare the best easy access ISAs

The best notice ISA rates

Provider Account Notice Rate AER
Marsden Building Society Branch Cash ISA 95 (Issue 2) 95 days 0.55%
Tipton & Coseley Building Society 30 Day Notice ISA (Issue 2) 30 days 0.45%
Aldermore 30 Day Notice Cash ISA Issue 11 30 days 0.40%

 

Marsden Building Society continued to offer the top-paying notice ISA this week, with its Branch Cash ISA 95 (Issue 2) paying 0.55% gross yearly on deposits of £5,000. A higher rate of 0.65% is paid on deposits of £25,000 and a lower rate of 0.45% is paid on deposits of £1,000, which is the minimum opening deposit. This ISA allows further additions. Withdrawals can be made on 95 days’ notice or earlier access is permitted on closure only and subject to 95 days’ loss of interest. Transfers in from cash ISAs are accepted. This ISA can only be opened and managed in branch.

The next best rate came from Tipton & Coseley Building Society, which pays 0.45% gross yearly on its 30 Day Notice ISA (Issue 2). This ISA requires a £100 minimum deposit to open, but is only available to those living within certain postcode areas. It allows further additions. Withdrawals are permitted subject to 30 days’ notice or if notice is not given, earlier access is allowed on 30 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 Aldermore, which pays 0.40% gross on anniversary on its 30 Day Notice Cash ISA Issue 11. This ISA requires a £1,000 minimum deposit to open and allows further additions. Withdrawals can be made subject to 30 days’ notice, alternatively earlier access is allowed on 30 days’ loss of interest. Transfers in are accepted. This ISA must be opened and managed online. There is also a version of this ISA that pays interest monthly at the same gross rate.

Compare the best notice ISAs

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. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

ISA document

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy