The Best ISA Rates This Week 03.12.20 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 03/12/2020

Just five ISAs pay rates above 1.00% this week, all of which are long-term fixed rate ISAs. Savers hoping to get a competitive easy access ISA may be disappointed to see that although five ISAs pay the top rate, it stands at just 0.60%. In the notice ISA chart, the top rate is 0.75%, but both ISAs paying this rate have opening restrictions.

It should be noted that the rates below are the best rates available at 1pm on Thursday 3 December 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
Shawbrook Bank 7 Year Fixed Rate Cash ISA Bond Issue 3 Seven years 1.25%
UBL UK 5 Year Fixed Rate Cash ISA Five years 1.15%
Family Building Society
Gatehouse Bank
3 Year Fixed Rate Cash ISA (10)
3 Year Fixed Term Cash ISA

Three years

Three years

0.80%

0.80% (expected profit rate)

Cambridge Building Society

Marsden Building Society
Monmouthshire Building Society

Members' 2 Year Fixed Rate ISA (Issue 3)
Fixed Rate Cash ISA (Issue 132)
2 Year Fixed Rate Cash ISA - Issue 8

Two years


28.02.23

Two years

0.80%


0.80%

0.80%

Vernon Building Society Fixed Rate Cash ISA to 31st March 2022 31.03.22 0.75%

 

Remaining at the top of the fixed rate ISA chart this week is Shawbrook Bank, which pays 1.25% gross on anniversary on its 7 Year Fixed Rate Cash ISA Bond Issue 3. This ISA requires a £1,000 minimum deposit to open. It accepts transfers in. The ISA must be opened online but can then be managed online and by phone. There is a version of this ISA that pays interest monthly at a lower gross rate of 1.24%.

UBL UK had the highest-paying five year fixed rate ISA this week, with its 5 Year Fixed Rate Cash ISA paying 1.18% gross on maturity. There are versions of this ISA that pay 1.15% gross on anniversary or quarterly and 1.14% gross monthly. All versions 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.

Two ISAs had the top-paying three year fixed rate of 0.80% this week. Family Building Society pays 0.80% gross yearly on its 3 Year Fixed Rate Cash ISA (10), which requires a £1,000 minimum deposit to open. This ISA is only available to existing members who have held a Family Building Society ISA for at least two months. It accepts transfers in from cash ISAs. The ISA can be opened in branch or by post and then managed online, in branch, by post and by phone. Gatehouse Bank pays an expected profit rate of 0.80% gross on anniversary on its 3 Year Fixed Term Cash ISA. A minimum deposit of £1,000 is needed to open this ISA. Transfers in are accepted. It must be opened and managed online.

The top two year rate this week was also 0.80%, which is offered by three ISAs. Cambridge Building Society pays 0.80% gross yearly on its Members’ 2 Year Fixed Rate ISA (Issue 3). This ISA is only available to existing members who have held a savings or mortgage account with Cambridge Building Society for the last three months. It requires a £500 minimum deposit to open. Transfers in are accepted until 5 April 2021. The ISA can be both opened and managed in branch, by post and by phone. Marsden Building Society pays 0.80% gross yearly on its Fixed Rate Cash ISA (Issue 132). This ISA is restricted to existing members and/or those living within specific postcode areas. A £5,000 minimum deposit is needed to open the ISA. Transfers in are accepted but must be received within 30 days of the account opening. It must be opened and managed in branch. Monmouthshire Building Society pays 0.80% gross yearly on its 2 Year Fixed Rate Cash ISA – Issue 8, which requires a £3,000 minimum deposit to open. This ISA accepts transfers in from cash ISAs. It must be opened in branch and is restricted to those living in England and Wales. It can then be managed online, in branch and by post.

The top rate in the one year fixed rate ISA chart this week came from Vernon Building Society, which pays 0.75% gross yearly on its Fixed Rate Cash ISA to 31st March 2022. A £10,000 minimum deposit is needed to open this ISA. It accepts transfers in from cash ISAs. The ISA can be opened in branch or by post and then managed online, in branch and by post.

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
Al Rayan Bank Instant Access Cash ISA (Issue 2) Instant 0.60% (expected profit rate)
Bath Building Society Instant ISA Instant 0.60%
Earl Shilton Building Society Instant Access Cash ISA Instant 0.60%
Scottish Building Society Loyalty Cash ISA Instant 0.60%
Teachers Building Society Teachers for Teachers Easy Access ISA (Issue 1) None 0.60%

 

Five ISAs offered the top easy access ISA rate of 0.60% 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. It allows further additions and unlimited withdrawals. Transfers in are accepted. The 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 minimum deposit of just £1 to open. 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.

The Instant Access Cash ISA from Earl Shilton Building Society pays 0.60% gross yearly but is restricted to existing members and/or those who live within specific postcode areas. A minimum deposit of £10 is needed to open this ISA, which allows both further additions and withdrawals. Transfers in are not permitted. The ISA can be both opened and managed in branch and by post.

Scottish Building Society pays 0.60% gross yearly on its Loyalty Cash ISA, which requires a £1 minimum deposit to open. This ISA permits further additions and withdrawals. It accepts transfers in. The ISA can be both opened and managed in branch and by post.

Teachers Building Society pays 0.60% gross yearly on its Teachers for Teachers Easy Access ISA (Issue 1), but this ISA is restricted to teachers and other education professionals. It requires a £100 minimum deposit to open. Further additions and withdrawals are allowed, and all withdrawals must be made via a nominated account. External transfers in are accepted. The ISA can be both opened and managed online 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
Earl Shilton Building Society
Teachers Building Society
90 Days Notice Cash ISA
Education ISA (Issue 2)

90 days

90 days

0.75%

0.75%

Aldermore 30 Day Notice Cash ISA Issue 10 30 days 0.55%

 

Two ISAs had the top-paying notice ISA rate this week. Earl Shilton Building Society pays 0.75% gross yearly on its 90 Day Notice Cash ISA. This ISA is restricted to existing members and/or those who live within certain postcode areas. It requires a £10 minimum deposit to open. It allows further additions. 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 not permitted. This ISA can be both opened and managed in branch and by post.

Teachers Building Society pays 0.75% gross yearly on its Education ISA (Issue 2), which is only available to teachers and other education professionals. A minimum deposit of £100 is needed to open this ISA. It allows further additions. Withdrawals are permitted subject to 90 days’ notice and must be made via a nominated account. External transfers in are accepted. This ISA can be both opened and managed online and by post.

For those looking for a shorter notice period, Aldermore has the top rate in the 30 days ISA chart. Aldermore pays 0.55% gross on anniversary or monthly on its 30 Day Notice Cash ISA Issue 10. This ISA requires a £1,000 minimum deposit to open. Further additions are allowed. Withdrawals are permitted subject to 30 days’ notice or, if notice is not given, earlier access is allowed subject to 30 days’ loss of interest. Transfers in are accepted. The ISA must be opened and managed online.

Compare the best notice ISAs

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

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