The Best ISA Rates This Week 10.12.20 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 10/12/2020

There was little change at the top of the ISA charts this week, with the top rates available last week still topping the fixed, easy access and notice ISA charts this week. Saying this, some providers have reduced or withdrawn rates, resulting in less choice in top-paying accounts in the easy access and three year fixed rate ISA charts.

Savers should be aware that the rates below are the best rates available at 1.30pm on Thursday 10 December 2020 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 3 Year Fixed Rate Cash ISA (10) Three years 0.80%

Cambridge Building Society

Marsden Building Society
Monmouthshire Building Society

Members’ 2 Year Fixed Rate ISA (Issue 3)
Fixed Rate Cash ISA (Issue 132)
2 Year Fixed Rate Cash ISA - Issue 8

Two years


28.02.23

Two years

0.80%


0.80%

0.80%

Vernon Building Society Fixed Rate Cash ISA to 31st March 2022 31.03.22 0.75%

 

This week, Shawbrook Bank continued to offer the top-paying fixed rate ISA, 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. Transfers in are accepted. It must be opened online but can then be managed online and by phone. There is also a version of this ISA that pays interest monthly at a slightly lower gross rate of 1.24%.

In the five year fixed rate ISA chart, UBL UK continued to have the best rate of 1.18% gross on maturity on its 5 Year Fixed Rate Cash ISA. There are also 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 and accept transfers in from cash ISAs. These ISAs can be opened in branch or by post but must then be managed by post.

The top rate in the three year fixed rate ISA chart came from Family Building Society this week, which pays 0.80% gross yearly on its 3 Year Fixed Rate Cash ISA (10). A £1,000 minimum deposit is needed to open this ISA. It is only available to existing customers who have had a Family Building Society ISA for at least two months. Transfers in from cash ISAs are accepted. This ISA can be opened in branch or by post and then managed online, in branch, by post and by phone.
Three ISAs continued to offer the best two year fixed ISA rate of 0.80% gross this week.

Cambridge Building Society pays 0.80% gross yearly on its Members’ 2 Year Fixed Rate ISA (Issue 3). This ISA is only available to existing members who have held a savings or mortgage account with Cambridge Building Society for the last three months. A £500 minimum deposit is needed to open the ISA, which accepts transfers in until 5 April 2021. It can be both opened and managed in branch, by post and by phone. Marsden Building Society pays 0.80% gross yearly on its Fixed Rate Cash ISA (Issue 132), which requires a £5,000 minimum deposit to open. This ISA is only available to existing members and/or locals within certain postcodes. Transfers in from cash ISAs are accepted but must be received within 30 days of account opening. This ISA can only be opened and managed in branch. Monmouthshire Building Society pays 0.80% gross yearly on its 2 Year Fixed Rate Cash ISA – Issue 8. To open this ISA, a £3,000 minimum deposit is needed. Transfers in from cash ISAs are accepted. It can be opened in branch and then managed online, in branch and by post. It is restricted to those living in England and Wales.

Savers looking for a one year fixed rate ISA will find that Vernon Building Society once again topped the chart this week, with its Fixed Rate Cash ISA to 31st March 2022 paying 0.75% gross yearly. This ISA requires a £10,000 minimum deposit to open. It accepts transfers in from cash ISAs. The ISA can be opened in branch or by post and then managed online, in branch and by post.

Compare the best 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 (Issue 2) Instant 0.60% (expected profit rate)
Earl Shilton Building Society Instant Access Cash ISA Instant 0.60%
Scottish Building Society Loyalty Cash ISA (New customers) Instant 0.60%

 

Three ISAs offered the top easy access ISA rate of 0.60% gross 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. Further additions are allowed and withdrawals can be made at any time. Transfers in are accepted. The ISA can be both opened and managed online, in branch, by post, by phone and via mobile app.

Earl Shilton Building Society pays 0.60% gross yearly on its Instant Access Cash ISA, which is restricted to existing members and/or locals within certain postcodes. A minimum deposit of £10 is needed to open this ISA. Further additions and withdrawals are allowed but transfers in are not accepted. It can be both opened and managed in branch and by post. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.

Scottish Building Society pays 0.60% gross yearly on its Loyalty Cash ISA (New customers), which requires a £1 minimum deposit to open. Unlimited further additions and withdrawals are permitted. This ISA accepts transfers in. It can be both opened and managed in branch and by post.

Compare the best 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
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 best 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 is restricted to existing members and/or locals living within certain postcodes. It requires a £10 minimum deposit to open. Further additions can be made. Withdrawals are allowed subject to 90 days’ notice or, if notice is not given, earlier access is permitted 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. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.

The second-best notice ISA rate this week came from Chorley Building Society, which pays 0.60% gross yearly on its 90 Day Cash ISA. To open this ISA, a £1 minimum deposit is needed. Further additions are allowed. Withdrawals can be made subject to 90 days’ loss of interest or, if notice is not given, earlier access is allowed subject to 90 days’ loss of interest. It can be opened online, in branch or by post and then managed in branch and by post.

Two ISAs offered the third-best notice ISA rate this week. Aldermore’s 30 Day Notice Cash ISA Issue 10 pays 0.55% gross on anniversary or monthly. A £1,000 minimum deposit is needed to open this ISA, which allows unlimited further additions. Withdrawals are permitted subject to 30 days’ notice or, if notice is not given, earlier access is allowed subject to 30 days’ loss of interest. It accepts transfers in. This ISA can only be opened and managed online. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance. Marsden Building Society’s Branch Cash ISA 95 (Issue 2) pays 0.55% gross yearly on deposits between £5,000 and £25,000. Savers should be aware that a higher rate of 0.65% gross is paid on deposits of £25,000 and over, but a lower rate of 0.45% gross is paid on deposits of £1,000. This ISA allows further additions. Withdrawals can be made subject 95 days’ notice or, if notice is not given, earlier access is permitted on closure only and subject to 95 days’ loss of interest. Transfers in from cash ISAs are accepted. This ISA can be opened and managed in branch.

Compare the best notice ISAs

All the rates available can be found on our notice ISA charts.

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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