The Best ISA Rates This Week 08 07 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 08/07/2021

During the last seven days a number of banks have increased their ISA rates, including UBL UK and OakNorth Bank. UBL UK increased its three and five year fixed rate ISA rates, resulting in both topping their charts, while OakNorth Bank’s rate rises resulted in it topping the one and two year fixed rate ISA charts.

Savers should note that the rates below are the best rates available at 12.30pm on Thursday 8 July 2021 and, although correct at the time of publishing, providers may reduce or withdraw rates at any time. As well as this, the rates highlighted are only those available to new customers.

The best fixed rate ISA savings rates

 

Provider

Account

Notice

Rate AER

 

UBL UK

5 Year Fixed Rate Cash ISA

1.31%

Five years

Go to provider’s site

UBL UK

3 Year Fixed Rate Cash ISA

1.06%

Three years

Go to provider’s site

OakNorth Bank

Fixed Rate Cash ISA

0.86%

24 months

Find out more

OakNorth Bank

Fixed Rate Cash ISA

0.72%

12 months

Find out more

 

Topping the fixed rate ISA chart this week was UBL UK with its 5 Year Fixed Rate Cash ISA paying 1.34% gross on maturity. There are also versions of this ISA that pay 1.31% gross on anniversary and 1.30% gross quarterly or monthly. As well as this, UBL UK topped the three year fixed rate ISA chart this week with its 3 Year Fixed Rate Cash ISA paying 1.07% gross on maturity, 1.06% gross on anniversary or quarterly, and 1.05% gross monthly. All versions of both ISAs require a £2,000 minimum deposit to open. Earlier access is permitted on closure only and subject to 270 days’ loss of interest on the three-year options and 365 days’ loss of interest on the five year options. Transfers in from cash ISAs are accepted. Transfers out are subject to the same loss of interest penalties as earlier access. They can be opened online, in branch, by post or via mobile app and then managed online, in branch, by post, by phone and via mobile app.

OakNorth Bank had the top paying two and one year fixed rate ISAs this week. The 24 month version of its Fixed Rate Cash ISA pays 0.86% gross monthly and the 12 month version pays 0.72% gross monthly. Both ISAs require a £1 minimum deposit to open. They allow earlier access subject to 90 days’ loss of interest on the 12 month option and 180 days’ loss of interest on the 24 month version. Both ISAs allow transfers in from cash ISAs but the accounts must be funded within 30 days’ of account approval or the account will be closed. They can be opened and managed online or via mobile app.

Compare the best fixed rate ISAs

The best easy access ISA rates

 

Provider

Account

Notice

Rate AER

 

Cynergy Bank

Online ISA (Issue 14)

None

0.54%

Find out more

Marcus by Goldman Sachs®

Cash ISA

None

0.50% (includes a 0.10% bonus for 12 months)

Find out more

Charter Savings Bank
Coventry Building Society
Yorkshire Building Society

Easy Access Cash ISA - Issue 21
Limited Access ISA (2)
Annual Access Account ISA Issue 4

None
 
Instant
 
Instant

0.45%
 
0.45%
 
0.45%

Find out more
 
Find out more
 
Find out more

 

The top easy access ISA rate in our chart this week continued to come from Cynergy Bank, which pays 0.54% gross yearly on its Online ISA (Issue 14). This ISA requires a £1 minimum deposit to open. A Cynergy Bank Authenticator App or Digipass is needed to open and managed this ISA. It allows further additions and withdrawals. Transfers in from cash ISAs are permitted on account opening only. This ISA must be opened and managed online.

The next best easy access ISA rate this week came from Marcus by Goldman Sachs® with its Cash ISA paying 0.50% gross monthly, which includes a 0.10% bonus for 12 months. To open this ISA a deposit is not needed, but a UK mobile number is required. It allows further additions and withdrawals via a nominated account. Transfers in are not allowed. The ISA can be opened online or by mobile app and then managed online, by phone and via mobile app.

Three ISAs had the third-best easy access ISA rate this week. Charter Savings Bank pays 0.45% gross on anniversary on its Easy Access Cash ISA – Issue 21, which requires a £5,000 minimum deposit to open. Further additions and withdrawals are allowed via a nominated account. Transfers in are accepted. It must be opened and managed online. There is a version of this ISA that pays interest monthly at the same gross rate.

Coventry Building Society’s Limited Access ISA (2) pays 0.45% gross on anniversary on a £1 minimum opening deposit. This ISA allows further additions, but withdrawals are restricted to six penalty-free withdrawals per annum and all further withdrawals are subject to 50 days’ loss of interest. Transfers in are accepted but all transferred in funds (with the exception of cash ISAs) must be sent by cheque with a transfer history form. As well as this, it is a flexible ISA, so savers can withdraw and replace money into the ISA within the same tax year without it counting towards the annual ISA allowance. It can be opened and managed online, in branch, by post and by phone. There is also a version of this ISA that pays interest monthly at the same gross rate.

Yorkshire Building Society pays 0.45% gross on anniversary on its Annual Access Account ISA Issue 4. To open this ISA a £100 minimum deposit is needed, which must be new money to the institution, along with any other deposits into the account. Further additions are allowed. Withdrawals are only permitted on one day per anniversary year. Transfers in are accepted and flexible ISA rules apply. The ISA can be opened in branch or by post and then managed online, in branch and by post. It should be noted that after 12 months this ISA reverts to an Easy ISA.

Compare the best easy access ISAs

The best notice ISA rates

 

Provider

Account

Notice

Rate AER

 

Aldermore

30 Day Notice Cash ISA Issue 12

30 days

0.35%

Find out more

Buckinghamshire Building Society

30 Day Cash ISA

30 days

0.30%

Find out more

 

Remaining at the top of the notice ISA chart this week was Aldermore. Its 30 Day Notice Cash ISA Issue 12 pays 0.35% gross on anniversary and requires a £1,000 minimum deposit to open. It allows further additions. Withdrawals are permitted subject to 30 days’ notice or earlier access is allowed subject to 30 days’ loss of interest. Transfers in are accepted and flexible ISA rules apply. It must be opened and managed online. There is a version of this ISA that pays interest monthly at the same gross rate.

Buckinghamshire Building Society continued to pay the next best notice ISA rate of 0.30% gross yearly on its 30 Day Cash ISA. This ISA requires a £100 minimum deposit to open and allows further additions. Withdrawals can be made subject to 30 days’ notice or earlier access is permitted subject to 30 days’ loss of interest. It does not accept transfers in. The ISA can be opened and managed in branch or by post. There is also a version of the ISA that pays interest monthly at the same gross rate.

Compare the best notice ISAs

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. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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