The best ISA rates this week 05.12.19 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 05/12/2019

This week saw a lot of change in the fixed rate savings chart, with new rates topping the chart for all terms. Those looking for an easy access or notice ISA will also be pleased to see that these charts continued to offer a number of competitive top rates.

It should be noted that the rates below are the best rates available on Thursday and, although correct at the time of publishing, they may not be available on Friday.     

The best fixed rate ISA savings rates

Provider Account Term Rate AER
Secure Trust Bank 5 Year Fixed Rate Cash ISA Five years 2.02%
Secure Trust Bank 3 Year Fixed Rate Cash ISA Three years 1.77%
Secure Trust Bank 2 Year Fixed Rate Cash ISA Two years 1.68%
Cynergy Bank Loyalty Fixed Rate Cash ISA One year 1.45%

There was good news for savers looking to put their money into a fixed rate ISA this year, as there were new top rates available in all charts. Secure Trust Bank was new to the top of the five, three and two year fixed ISA charts this week. Its 5 Year Fixed Rate Cash ISA tops the fixed ISA chart overall paying 2.02% gross yearly on an opening minimum deposit of £1,000. As well as this, its 3 Year Fixed Rate Cash ISA topped the three year chart paying 1.77% gross yearly and the two year chart with its 2 Year Fixed Rate Cash ISA paying 1.68% gross yearly. Both these ISAs also require a minimum opening deposit of £1,000. All the ISAs allow transfers in and can only be opened online but then managed by phone as well.

While Secure Trust Bank topped these charts offering the best AER rate, it should be noted that UBL UK continued to offer the top gross rates for all these terms. Its 5 Year Fixed Rate Cash ISA pays 2.09% gross on maturity, its 3 Year Fixed Rate Cash ISA pays 1.79% gross on maturity and its 2 Year Fixed Rate Cash ISA pays 1.68% gross on maturity. All these ISAs require a minimum opening deposit of £2,000 and allow transfers in. They can be opened in branch or by post and then managed by post only.

New to the top of the one year fixed ISA chart this week was Cynergy Bank with its Loyalty Fixed Rate Cash ISA paying 1.45% gross on anniversary. This ISA is only available to existing customers of six months or more and requires an opening minimum deposit of £500, while transfers in are allowed. It can only be opened online but can then be managed online, in branch, by post and by phone.

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 Take E-ISA Issue 12 None 1.36%
Virgin Money Man Utd Double Take E-ISA Issue 11 None 1.36%
Yorkshire Building Society 1 Year Limited Access Saver ISA Issue 2 None 1.35%

Savers looking to have quick access to their money will be pleased to see that last week’s top rates were still available this week. Virgin Money offers the top gross rate with its Double Take E-ISA Issue 12 and Man Utd Double Take E-ISA Issue 11 both paying 1.36% gross yearly on an opening minimum deposit of just £1. Both these accounts allow unlimited further additions while withdrawals are restricted to two per calendar year. Transfers in are allowed with both ISAs. They can only be opened and managed online. There are also versions of both these accounts that pay interest monthly at a slightly lower gross rate.

Al Rayan Bank also continued to offer a highly competitive rate this week with its Instant Access Cash ISA paying an expected profit rate of 1.35% gross monthly. This account requires an opening minimum deposit of £50. It allows unlimited further additions and withdrawals. Transfers in are permitted. The account can be both opened and managed online, in branch, by post, by phone and via mobile app.

In addition to this, Yorkshire Building Society also remained highly competitive this week, offering a rate of 1.35% gross on its 1 Year Limited Access Saver ISA Issue 2. This account pays interest on anniversary and requires an opening minimum deposit of £100. Unlimited further additions can be made into the account, while withdrawals are restricted to one withdrawal day per account year. Transfers in are allowed. This account can only be opened and managed online.   

The best notice ISA rates

Provider Account Notice Rate AER
Teachers Building Society Education ISA (Issue 1) 90 days 1.40%
Aldermore 30 Day Notice Cash ISA Issue 7 30 days 1.30%

A notice ISA is a great option for savers looking for competitive rates but who do not want to have to lock their money into a fixed term account. The best rate in the notice ISA chart this week came from Teachers Building Society, which pays 1.40% gross yearly on its Education ISA (Issue 1). Savers should be aware that this ISA is only available to teachers and other education professionals. For those eligible, this ISA requires an opening minimum deposit of £100 and allows unlimited further additions, while withdrawals are permitted but subject to 90 days’ notice. Transfers in are allowed. It can be both opened and managed online and by post.

Aldermore continued to offer the top rate in the 30 day notice chart with its 30 Day Notice Cash ISA Issue 7 paying 1.30% gross on anniversary. This ISA requires a £1,000 minimum deposit to open. Unlimited further additions are allowed, while withdrawals are permitted subject to 30 days’ notice. Earlier access is permitted but will incur a 30-day loss of interest penalty. Transfers in are allowed. This ISA can only be opened and managed online. There is also a version of this ISA that pays interest monthly at a lower gross rate.

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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