The Best ISA Rates This Week 07.01.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 07/01/2021

The start of 2021 has not resulted in much change at the top of the ISA charts, instead savers will find the majority of top rates available at the end of 2020 remaining in the charts this week. As the economic uncertainty caused by the pandemic continues, it is unlikely that rates will rise significantly over the coming weeks, but savers looking to get the best ISA rates should regularly check the ISA charts and act quickly if any new top rates enter the charts.

Savers should be aware that the rates below are the best rates available at 1pm on Thursday 7 January 2021 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
Shawbrook Bank

West Brom Building Society

3 Year Fixed Rate Cash ISA (11)
3 Year Fixed Rate Cash ISA Bond Issue 24
3 Year Fixed Rate ISA

Three years

Three years

31.12.23

0.75%

0.75%

0.75%

Marsden Building Society Fixed Rate Cash ISA (Issue 132) 28.02.23 0.80%
Al Rayan Bank Fixed Term Deposit Cash ISA 12-months 0.65% (expected profit rate)

 

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

The top five year fixed ISA rate this week came from UBL UK, which pays 1.18% gross on maturity on its 5 Year Fixed Rate Cash ISA. 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. They accept transfers in from cash ISAs. These ISAs can be opened in branch or by post, but they must then be managed by post.

Three ISAs had the top-paying three year fixed ISA rate this week. Family Building Society’s 3 Year Fixed Rate Cash ISA (11) pays 0.75% gross yearly on a £1,000 opening minimum deposit. This ISA is only available to existing members who have had a Family Building Society ISA for at least two months. It accepts transfers in from cash ISAs and can be opened in branch or by post. Once opened, it can be managed online, in branch, by post or by phone. Shawbrook Bank pays 0.75% gross on anniversary or monthly on its 3 Year Fixed Rate Cash ISA Bond Issue 24. To open this ISA, a £1,000 minimum deposit is needed. It accepts transfers in. This ISA must be opened online but can then be managed online and by phone. West Brom Building Society’s 3 Year Fixed Rate ISA pays 0.75% yearly until 31.12.2023. This ISA requires a £1,000 minimum deposit to open. It accepts transfers in. The ISA can only be opened and managed in branch.

Topping the two year fixed rate ISA chart this week was Marsden Building Society, which pays 0.80% gross yearly until 28.02.2023 on its Fixed Rate Cash ISA (Issue 132). This ISA is only available to existing members and/or locals who live within certain postcode areas. It requires a £5,000 minimum deposit to open. This ISA accepts transfers in but transfers must be received within 30 days of account opening. It can only be opened and managed in branch.

The top rate in the one year fixed rate ISA chart this week came from Al Rayan Bank, which pays an expected profit rate of 0.65% gross quarterly on its Fixed Term Deposit Cash ISA. A £1,000 minimum deposit is needed to open this ISA. Transfers in are accepted for up to 30 days from account opening. This ISA can be opened online, in branch, by phone or via mobile app. It can then be managed online, in branch, by post, by phone and via mobile app.

Compare the best notice accounts

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)
Earl Shilton Building Society Instant Access Cash ISA Instant 0.60%
Charter Savings Bank Easy Access Cash ISA - Issue 19 None 0.56%

 

Two ISAs had the top easy access ISA rate this week. Al Rayan Bank pays an expected profit rate of 0.60% gross monthly on its Instant Access Cash ISA (Issue 2). This ISA requires a £50 minimum deposit to open. It allows further additions and withdrawals. Transfers in are accepted. The ISA can be both opened and managed online, in branch, by post, by phone and via mobile app.

Also offering 0.60% gross this week was Earl Shilton Building Society’s Instant Access Cash ISA. This ISA pays interest yearly and requires a £10 minimum deposit to open. It is only available to existing members and/or locals within certain postcode areas. Further additions and withdrawals are permitted. Transfers in are not accepted. This ISA can be both opened and managed in branch and by post.

The second-best easy access ISA rate this week came from Charter Savings Bank, which pays 0.56% gross on anniversary or monthly on its Easy Access Cash ISA – Issue 19. To open this ISA, a £5,000 minimum deposit is needed. It allows further additions and withdrawals via a nominated account. Transfers in are accepted. The ISA can only be opened and managed online.

Compare the best easy access ISAs

The best notice ISA rates

Provider Account Notice Rate AER
Earl Shilton Building Society 90 Days Notice Cash ISA 90 days 0.75%
Chorley Building Society 90 Day Cash ISA 90 days 0.60%

Aldermore

Marsden Building Society

30 Day Notice Cash ISA Issue 10
Branch Cash ISA 95 (Issue 2)

30 days

95 days

0.55%

0.55%

 

The top notice ISA rate this week came from Earl Shilton Building Society, which pays 0.75% gross yearly on its 90 Days Notice Cash ISA. This ISA requires a £10 minimum deposit to open and is only available to existing members and/or locals living within certain postcode areas. It allows further additions. Withdrawals are permitted subject to 90 days’ notice and, if notice is not given, earlier access is allowed subject to 90 days’ loss of interest. Transfers in are not accepted. This ISA can be both opened and managed in branch and by post.

The next best notice ISA rate came from Chorley Building Society’s 90 Day Cash ISA, which pays 0.60% gross yearly on a £1 minimum opening deposit. Further additions are allowed, but all deposits must be new money to the institution. Withdrawals are permitted subject to 90 days’ notice and, if notice is not given, earlier access is permitted subject to 90 days’ loss of interest. Transfers in are permitted. This ISA can be opened online, in branch or by post and then managed in branch and by post.

Two ISAs had the third-best notice ISA rate this week. Aldermore pays 0.55% gross on anniversary or monthly on its 30 Day Notice Cash ISA Issue 10. A £1,000 minimum deposit is needed to open this ISA. It allows further additions. Withdrawals are permitted subject to 30 days’ notice and, if notice is not given, earlier access is allowed on 30 days’ loss of interest. This ISA accepts transfers in. It can only be opened and managed online. Marsden Building Society pays 0.55% gross yearly on Its Branch Cash ISA 95 (Issue 2) on a £5,000 deposit. This ISA pays a higher gross rate of 0.65% on deposits of £25,000 and over, as well as a lower gross rate of 0.45% on deposits of £1,000 to £4,999. Further additions are allowed. Withdrawals are allowed on 95 days’ notice and, if notice is not given, earlier access is permitted on closure only subject to 95 days’ loss of interest. This ISA can be opened and managed in branch.

Compare the best notice ISAs

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