Derin Clark

Derin Clark

Online Reporter
Published: 06/02/2020

This week saw some movement throughout the ISA charts, most notably Virgin Money has changed the issue number and increased the rate on one of its easy access ISAs, resulting it offering one of the most competitive rates in the chart. The fixed rate ISA chart, however, saw withdrawals this week, which has led to some of last week’s top rates no longer being available.

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
UBL UK 5 Year Fixed Rate Cash ISA Five years 1.91%
UBL UK 3 Year Fixed Rate Cash ISA Three years 1.67%
UBL UK 2 Year Fixed Rate Cash ISA Two years 1.50%
Cynergy Bank Loyalty Fixed Rate Cash ISA One year 1.45%

There have been some rate reductions and withdrawals in the fixed rate ISA chart this week. As a result, new rates have topped the three and two year charts, albeit at a lower rate than was previously being offered. UBL UK continued to top the chart overall with its 5 Year Fixed Rate Cash ISA paying 1.98% gross on maturity. UBL UK was also new to the top of the three year chart this week offering 1.70% gross on maturity on its 3 Year Fixed Rate Cash ISA . Both these ISAs require a minimum opening deposit of £2,000 and allow transfers in from cash ISAs only. They can be opened in branch or by post and then managed by post. Both these ISAs offer versions that pay interest on anniversary, quarterly and monthly at a slightly lower gross rate.

During the week, Marsden Building Society withdrew its Fixed Rate Cash ISA (Issue 118), which had been topping the two year chart. This has resulted in six providers now offering the top rate of 1.50% AER in the chart. Saying this, UBL UK offers the highest gross rate overall of 1.51% on maturity. This ISA requires a £2,000 minimum deposit to open and accepts transfers in from cash ISAs. It can be opened in branch or by post and then managed by post. In addition to this, there are versions of this account that pay interest on anniversary and monthly at a lower gross rate.

Cynergy Bank continued to top the one year chart with its Loyalty Fixed Rate Cash ISA paying 1.45% gross on anniversary. This ISA requires a minimum opening deposit of £500 but it is only available to existing customers of six months or more. It allows transfers in. For those who are not already customers of Cynergy Bank, it also offers a gross rate of 1.40% on its Fixed Rate Cash ISA. This ISA requires a minimum opening deposit of £500 and allows transfers in. Both accounts must be opened online but can then be managed online, by post and by phone.

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)
Cynergy Bank Online ISA (Issue 1) None 1.31%
Virgin Money Double Take E-ISA Issue 14 None 1.31%

Al Rayan Bank remained at the top of the easy access ISA chart this week with its Instant Access Cash ISA paying an expected profit rate of 1.35% gross monthly. A minimum deposit of £50 is required to open this ISA, which allows unlimited further additions and withdrawals. This ISA accepts transfers in. It can be both opened and managed online, in branch, by post, by phone and via its mobile app.

Cynergy Bank also continued to offer a highly competitive rate this week with its Online ISA (Issue 1) paying 1.31% gross yearly. This ISA requires a minimum opening deposit of just £1 and allows unlimited further additions and withdrawals. Transfers in are accepted. This ISA can only be opened and managed online.

Today, Virgin Money has changed the issue number and increased the rate on its Double Take E-ISA Issue 14, which now offers 1.31% gross yearly. A minimum deposit of just £1 is required to open this ISA, which allows unlimited further additions. Withdrawals are restricted to two withdrawals per calendar year. Transfers in are permitted. This ISA can only be opened and managed online. There is also a version of this ISA that pays interest monthly at a slightly lower gross rate.

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%

The highly restrictive Teachers Building Society once again topped the ISA notice chart this week with its Education ISA (Issue 1) paying 1.40% gross yearly. This ISA is only available to teachers and other education professionals and requires a minimum opening deposit of £100. It allows unlimited further additions, while withdrawals are permitted but subject to 90 days’ notice. This ISA accepts external transfers in only . It can be opened and managed online and by post. For those not in the education profession, Earl Shilton Building Society offers a 90-day notice ISA that pays 1.30% gross yearly. This ISA requires a £10 opening minimum deposit and allows unlimited further additions. Withdrawals are permitted subject to 90 days’ notice or 90 days’ loss of interest if notice is not given. Transfers in are not allowed. It can be both opened and managed in branch and by post.

Savers happy put their money into a notice account with a longer term can get 1.31% gross on anniversary on Paragon Bank’s 120 Day Notice Cash ISA – Issue 1. This ISA requires an opening minimum deposit of £500 and permits unlimited further additions. Withdrawals are allowed subject to 120 days’ notice, alternatively there is a 120-day loss of interest penalty if notice is not given. Transfers in are allowed. This ISA can only be opened and managed online.

Aldermore continued to offer a rate of 1.30% gross on anniversary on its 30 Day Notice Cash ISA Issue 7 this week. This ISA requires an opening minimum deposit of £1,000. It allows unlimited further additions and withdrawals are allowed subject to 30 days’ notice or a 30-day interest penalty if notice is not given. Transfers in are accepted. This account can only be opened and managed online.

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.

Cookies

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

I accept. Read our Cookie Policy