The best ISA rates this week 10.09.20

Savers looking for an easy access ISA will be pleased to see that a new top rate has entered the chart this week. Meanwhile, savers looking to lock into a long-term ISA are still able to get the top rate of 1.40% AER this week.

It should be noted that the rates below are the best rates available at 12pm on Thursday 10 September 2020 and, although correct at the time of publishing, they may not be available after this time.

Remaining at the top of the fixed rate ISA chart this week was UBL UK with its 5 Year Fixed Rate Cash ISA. This ISA pays 1.44% gross on maturity, but there are also options that pay 1.40% gross on anniversary and 1.39% gross quarterly or monthly. All options require a £2,000 minimum deposit to open. Transfers in from cash ISAs are accepted. They can be opened in branch or by post, but can then only be managed by post.

Both Gatehouse Bank and UBL UK had the top rate in the three year fixed rate ISA chart this week. Gatehouse Bank pays an expected profit rate of 1.10% gross on anniversary on its 3 Year Fixed Term Cash ISA. To open this ISA, a minimum deposit of £1,000 is needed. It accepts transfers in. This ISA can only be opened and managed online. UBL UK’s 3 Year Fixed Rate Cash ISA pays 1.11% gross on maturity, as well as offering versions that pay 1.10% gross on anniversary or quarterly, and 1.09% gross monthly. All options require a £2,000 minimum deposit to open and accept transfers in from cash ISAs. They can be opened in branch or by post and then managed by post.

The top rate in the two year fixed ISA chart this week came from Skipton Building Society, which pays 0.95% gross on anniversary on its 30 Month Fixed Rate ISA Issue 130 and its 30 Month Online Fixed Rate ISA Issue 130. Both ISAs require a £10,000 minimum deposit to open. They allow transfers in from seven days from account opening. The 30 Month Fixed Rate ISA Issue 130 can be both opened and managed in branch, by post, and by phone. 30 Month Online Fixed Rate ISA Issue 130 can only be opened and managed online.

Secure Trust Bank had the top-paying one year fixed rate ISA this week with its 1 Year Fixed Rate Cash ISA paying 0.86% gross yearly. This ISA, which matures on the 20 October 2021, requires a £1,000 minimum deposit to open. Transfers in from cash ISAs are accepted. The ISA must be opened online, but can then be managed online and by phone.

New to the top of the easy access ISA chart this week was Coventry Building Society, which pays 0.96% gross on anniversary or monthly. This ISA requires a minimum opening deposit of just £1. It allows unlimited further additions. Three penalty-free withdrawals are permitted per annum, and any withdrawals after this are subject to 50 days’ loss of interest. Transfers in are accepted. This ISA must be opened and managed online.

Both Cynergy Bank and National Savings & Investments (NS&I) had the second-best paying easy access ISAs this week. Cynergy Bank pays 0.90% gross yearly on its Online ISA (Issue 4), which requires a £1 minimum deposit to open. Unlimited further additions are allowed and withdrawals can be made at any time. Transfers in from cash ISAs are accepted. The ISA can only be opened and managed online. To open and manage this ISA, a Cynergy Bank Authenticator App or Digipass is required.

NS&I pays 0.90% gross yearly on its Direct ISA, which requires a £1 minimum deposit to open. Unlimited further additions are allowed. Withdrawals can be made at any time but all withdrawals must be made via a nominated account. Transfers in are not accepted. This ISA can be both opened and managed online and by phone. This ISA is 100% back by HM Treasury.