Derin Clark

Derin Clark

Online Reporter
Published: 05/03/2020

There has not been much movement at the tops of the ISA charts this week, which will be a disappointment to savers hoping to see new competitive rates entering the charts ahead of the ISA season. Saying this, the charts have remained competitive this week, especially in the three year fixed ISA and the easy access ISA charts.

The best fixed rate ISA savings rates

Provider Account Term Rate AER
United Trust Bank ISA 7 Year Bond Seven years 1.85%
Principality Building Society 5 Year Fixed Rate Cash ISA Issue 218 Five years 1.70%
Barclays Bank 3-Year Flexible Cash ISA – Issue 26 Three years 1.70%
OakNorth Bank 24 Month Fixed Rate Cash ISA 24 months 1.51%
OakNorth Bank 12 Month Fixed Rate Cash ISA 12 months 1.41%

There was no movement at the top of the fixed rate ISA chart this week, with United Trust bank continuing to pay the best rate overall. United Trust Bank pays 1.85% gross on anniversary on its ISA 7 Year Bond. This ISA requires a minimum opening deposit of £15,000 and allows transfers in. It must be opened by post but can then be managed by post and by phone.

Remaining at the top of the five year fixed rate ISA chart this week was Principality Building Society, which pays 1.70% gross on anniversary on its 5 Year Fixed Rate Cash ISA Issue 218. A minimum deposit of £500 is required to open this ISA. Transfers in are allowed. It can be opened online or in branch, then managed online, in branch and by post. There is also a version of this ISA that pays interest monthly at a slightly lower gross rate.

Barclays Bank continued to top the three year fixed rate ISA chart this week also offering a rate of 1.70% gross on its 3-Year Flexible Cash ISA – Issue 26. Interest is paid on maturity. This ISA requires a minimum opening deposit of just £1 and it allows transfers in. It can be both opened and managed online, in branch, by phone and via mobile app. A version of this ISA is available that pays interest monthly at the same gross rate.

Offering the best rate in both the two and one year fixed rate ISA charts this week was OakNorth Bank. It tops the two year chart with its 24 Month Fixed Rate Cash ISA, which pays 1.51% gross monthly, while its 12 Month Fixed Rate Cash ISA tops the one year chart paying 1.41% gross monthly. Both ISAs require a minimum opening deposit of just £1. They allow transfers in from cash ISAs only, but initial deposits must be received within 30 calendar days or the account will be closed. These ISAs can only be opened online, but can then be managed online, by phone and via mobile app.

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 Instant 1.36% (expected profit rate)
Virgin Money Double Tale E-ISA Issue 14 None 1.31%

Leeds Building Society

Yorkshire Building Society

Double Access Cash ISA
1 Year Limited Access Saver ISA Issue 3
Annual Access Account ISA

Instant

None

Instant

1.30%

1.30%

1.30%

Savers looking for the flexibility of an easy access ISA will find that Al Rayan Bank continued to offer the best rate in the chart this week. Its Instant Access Cash ISA pays an expected profit rate of 1.36% gross monthly. It requires a minimum deposit of £50 to open. Unlimited further additions and withdrawals are allowed. It permits transfers in. This ISA can be both opened and managed online, in branch, by post, by phone and via mobile app, but after 13 March a hard token device will be required to bank online.

The second-best easy access rate once again came from Virgin Money this week. Virgin Money pays 1.31% gross yearly on its Double Take E-ISA Issue 14. To open this ISA, a minimum deposit of just £1 is required. It allows unlimited further additions, but withdrawals are restricted to two per calendar year. Transfers in are permitted. This ISA can only be opened and managed online. There is also a version that pays interest monthly at a slightly lower gross rate.

Two providers continued to offer the third-best rate in the easy access chart this week. Leeds Building Society pays 1.30% gross yearly on its Double Access Cash ISA, while Yorkshire Building Society pays 1.30% gross on anniversary on its 1 Year Limited Access Saver ISA Issue 3 and its Annual Access Account ISA. Leeds Building Society’s Double Access Cash ISA requires a minimum opening deposit of £5,000. It allows unlimited further additions. Penalty-free withdrawals are restricted to two per calendar year, followed by a 30-day loss of interest penalty on all further withdrawals. Transfers in are allowed. It can be opened online, in branch and by post and then managed in branch and by post.

Yorkshire Building Society’s 1 Year Limited Access Saver ISA Issue 3 and Annual Access Account ISA both require an opening minimum deposit of £100. They both allow unlimited further additions, but restrict withdrawals to one withdrawal day per account year. Transfers in are permitted on both ISAs. The 1 Year Limited Access Saver ISA Issue 3 can only be opened and managed online, and it reverts to a Limited Access Saver ISA Issue 1 after 12 months. Annual Access Account ISA can be opened in branch or by post and then managed online, in branch and by post. It reverts to an Easy ISA after 12 months.

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
Teachers Building Society Education ISA (Issue 1) 90 days 1.40%
Paragon Bank 120 Day Notice Cash ISA – Issue 1 120 days 1.31%
Aldermore 30 Day Notice Cash ISA Issue 7 30 days 1.30%

Savers looking for a notice ISA will find that the best rate is again being offered by Teachers Building Society. Its Education ISA (Issue 1) pays 1.40% gross yearly. This is a highly restrictive ISA that is only available to teachers and other education professionals. It requires a minimum opening deposit of £100. This ISA allows unlimited further additions. Withdrawals are permitted, but are subject to 90 days’ notice. It allows transfers in. This ISA can be both opened and managed online and by post.

The best notice ISA rate on an ISA without any opening restrictions came from Paragon Bank this week. Paragon Bank pays 1.31% gross on anniversary on its 120 Day Notice Cash ISA – Issue 1. To open this ISA, a £500 minimum deposit is required. It allows unlimited further additions and permits withdrawals, although withdrawals are subject to 120 days’ notice. Transfers in are allowed. This ISA can only be opened and managed online. There is also a version that pays interest monthly but at a slightly lower gross rate.

The third-best notice ISA rate came from Aldermore this week, which pays 1.30% gross on anniversary on its 30 Day Notice Cash ISA Issue 7. This ISA requires a minimum opening deposit of £1,000 and allows unlimited further additions. Withdrawals are permitted subject to 30 days’ notice. Access is allowed without the required notice, but a 30-day loss of interest penalty applies. Transfers in are allowed. This ISA must be opened and managed online. In addition, there is a version that pays interest monthly at a slightly lower gross rate.

Notice ISAs

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

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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