The Best ISA Rates This Week 01 07 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 01/07/2021

This week saw a number of ISA providers increase their rates or launch new products. Marcus by Goldman Sachs® for example introduced a 0.10% bonus on its easy access ISA resulting in it paying the second best easy access ISA rate in the chart. Close Brothers Savings also made notable rate increases on some of its ISAs this week, resulting in its two year fixed ISA now joint-top of the two year fixed ISA chart.

Savers should note that the rates below are the best rates available at 2pm on Thursday 1 July 2021 and, although correct at the time of publishing, providers may reduce or withdraw rates at any time. As well as this, the rates highlighted are only those available to new customers.

Alternative options for long-term ISA savers

Long-term ISA savers may want to consider investing in a stocks and shares ISA, although this is a much riskier option compared to a cash ISA. More information about investing in a stocks and shares ISA can be found on our stocks and shares ISA page.

The best fixed rate ISA savings rates

 

Provider

Account

Notice

Rate AER

 

State Bank of India

5 Year Cash ISA Fixed Deposit

Five years

1.55%

Find out more

State Bank of India

3 Year Cash ISA Fixed Deposit

Three years

1.10%

Find out more

Close Brothers Savings

Paragon Bank
 
Shawbrook Bank

2 Year Fixed Rate Cash ISA
2 Year Fixed Rate Cash ISA
2 Year Fixed Rate Cash ISA Bond Issue 49

Two years
 
Two years
 
Two years

0.85%
 
0.85%
 
0.85%

Find out more
 
Find out more
 
Find out more

UBL UK

1 Year Fixed Rate Cash ISA

One year

0.71%

Go to provider’s site

 

New to the top of the fixed rate ISA chart this week was State Bank of India which pays 1.55% gross on maturity on its 5 Year Cash ISA Fixed Deposit. State Bank of India also topped the three year fixed ISA chart this week with its 3 Year Cash ISA Fixed Deposit paying 1.10% gross on maturity. Both ISAs require a £5,000 minimum deposit to open and are only available to those with a State Bank of India current or savings account. They allow earlier access on closure only and subject to 30 days’ notice, no interest is paid if the account is closed before the first anniversary and there is a 1% loss of interest if it is closed after the first anniversary. Transfers in from cash ISAs are accepted. The ISAs can be opened and managed online, in branch and by post.

Three ISAs topped the two year fixed ISA chart this week. Close Brothers Savings pays 0.85% gross on anniversary on its 2 Year Fixed Rate Cash ISA. It requires a £10,000 minimum deposit to open. Earlier access is permitted on closure only and subject to 150 days’ loss of interest. The ISA accepts transfers in but transfer instructions must be received within 10 days of account opening. It must be opened online but can then be managed online, by post and by phone. Paragon Bank pays 0.85% gross on anniversary on its 2 Year Fixed Rate Cash ISA. A £500 minimum deposit is needed to open this ISA, which allows earlier access subject to 180 days’ loss of interest. Transfers in are accepted. This is a flexible ISA, which means that savers can withdraw and replace money into the ISA within the same tax year without it counting towards the annual ISA allowance. It can be opened and managed online and by post. There is a version of this ISA that pays interest monthly at the same gross rate. Shawbrook Bank’s 2 Year Fixed Rate Cash ISA Bond Issue 49 pays 0.85% gross on anniversary and requires a £1,000 minimum deposit to open. It allows earlier access subject to 180 days’ loss of interest. Transfers in are accepted. The ISA can only be opened online but it can be managed online and by phone. There is also a version of this ISA that pays interest monthly at the same gross rate.

The top rate in the one year fixed ISA chart this week comes from UBL UK, which pays 0.71% gross on maturity on its 1 Year Fixed Rate Cash ISA. This ISA requires a £2,000 minimum deposit to open. It permits earlier access on closure only and subject to 90 days’ loss of interest. Transfers in from cash ISAs are accepted. The ISA can be opened online, in branch, by post or via mobile app and then managed online, in branch, by post, by phone and via mobile app.

Compare the best fixed rate ISAs

The best easy access rates

 

Provider

Account

Notice

Rate AER

 

Cynergy Bank

Online ISA (Issue 14)

None

0.54%

Find out more

Marcus by Goldman Sachs®

Cash ISA

None

0.50% (includes a 0.10% bonus for 12 months)

Find out more

Charter Savings Bank
Coventry Building Society
Yorkshire Building Society

Easy Access Cash ISA - Issue 21
Limited Access ISA (2)
Annual Access Account ISA Issue 4

None
 
Instant
 
Instant

0.45%
 
0.45%
 
0.45%

Find out more
 
Find out more
 
Find out more

 

Topping the easy access ISA chart this week was Cynergy Bank which pays 0.54% gross yearly on its Online ISA (Issue 14). This ISA requires a £1 minimum deposit to open and a Cynergy Bank Authenticator App or Digipass is needed to open and manage the account. It allows further additions and withdrawals. The ISA accepts transfers in, but transfers are only permitted on account opening. It must be opened and managed online.

The second-best rate comes from Marcus by Goldman Sachs® with its Cash ISA paying 0.50% gross monthly, which includes a 0.10% bonus for 12 months. This ISA does not require a deposit to open but a UK mobile number is needed. Further additions are allowed and withdrawals can be made, but all transactions must be via a nominated account . The ISA does not accept transfers in. It can be opened online or by mobile app and can then be managed online, by phone and via mobile app.

Three ISAs pay the next-best rate of 0.45% this week. Charter Savings Bank pays 0.45% gross on anniversary on its Easy Access Cash ISA – Issue 21, which requires a £5,000 minimum deposit to open. This ISA allows further additions and withdrawals , which must be made via a nominated account. Transfers in are accepted. It must be opened and managed online. There is also a version of this ISA that pays interest monthly at the same gross rate. Coventry Building Society pays 0.45% gross on anniversary on its Limited Access ISA (2). A minimum deposit of £1 is needed to open this ISA, which allows further additions. Up to six penalty-free withdrawals can be made per annum, all further withdrawals are subject to 50 days’ loss of interest. Transfers in are accepted . It is a flexible ISA, so savers can withdraw and replace money into the ISA within the same tax year without it counting towards the annual ISA allowance. It can be opened and managed online, in branch, by post and by phone. There is a version of this ISA that pays interest monthly at the same gross rate. Yorkshire Building Society pays 0.45% gross on anniversary on its Annual Access Account ISA Issue 4. This ISA requires a £100 minimum deposit to open and. it allows further additions, but all deposits must be new money to the building society. Withdrawals are restricted to one withdrawal day per anniversary year. Transfers in are accepted and this is also a flexible ISA. It can be opened in branch or by post and then managed online, in branch and by post. Savers should also be aware that this ISA reverts to an Easy ISA after 12 months.

Compare the best easy access ISAs

The best notice ISA rates

 

Provider

Account

Notice

Rate AER

 

Aldermore

30 Day Notice Cash ISA Issue 12

30 days

0.35%

Find out more

Buckinghamshire Building Society

30 Day Cash ISA

30 days

0.30%

Find out more

 

Aldermore once again paid the top notice ISA rate this week with its 30 Day Notice Cash ISA Issue 12 paying 0.35% gross. To open this ISA a £1,000 minimum deposit is needed. It allows further additions and withdrawals can be made subject to 30 days’ notice. Earlier access is permitted subject to 30 days’ loss of interest. Transfers in are accepted and this is a flexible ISA, so savers can withdraw and replace money into the ISA within the same tax year without it counting towards the annual ISA allowance. It must be opened and managed online. There is a version of this ISA that pays interest monthly at the same gross rate.

The next-best rate came from Buckinghamshire Building Society which pays 0.30% gross yearly on its 30 Day Cash ISA. This ISA requires a £100 minimum deposit to open. It allows further additions. Withdrawals are permitted subject to 30 days’ notice, alternatively earlier access is allowed subject to 30 days’ loss of interest. This ISA does not accept transfers in. It can be opened and managed in branch and by post. There is also a version of this ISA that pays interest monthly at the same gross rate.

Compare the best notice ISAs

Compare the best notice ISAs on our 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. 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.

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