The Best ISA Rates This Week 11.02.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 11/02/2021

With just weeks away until the traditional start of the ISA season, savers hoping to see new higher rates entering the charts will be disappointed and there is no sign yet that this year will see a competitive ISA season. Savers looking for the best rate will need to consider a fixed rate ISA, but should keep in mind that with the best-paying five year fixed ISA rate at just 1.30% AER, locking into a long-term ISA could see their savings erode over time due to inflation.

Savers should also note that the rates below are the best rates available at 1pm on Thursday 11 February 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
Gatehouse Bank 5 Year Fixed Term Green Cash ISA Five years 1.30% (expected profit rate)
Gatehouse Bank 3 Year Fixed Term Green Cash ISA Three years 0.90% (expected profit rate)
Gatehouse Bank 2 Year Fixed Term Green Cash ISA Two years 0.80% (expected profit rate)
Al Rayan Bank Fixed Term Deposit Cash ISA 12-months 0.65% (expected profit rate)

 

Gatehouse Bank continued to top the fixed rate ISA chart this week with its 5 Year Fixed Term Green Cash ISA paying an expected profit rate of 1.30% gross on anniversary. It also topped the three and two year fixed ISA charts this week, with its 3 Year Fixed Term Green Cash ISA paying an expected profit rate of 0.90% gross on anniversary and its 2 Year Fixed Term Green Cash ISA paying an expected profit rate of 0.80% gross on anniversary. All these ISAs require a £1,000 minimum deposit to open and accept transfers in. They must be opened and managed online. These ISAs come with the incentive of Gatehouse Bank planting a tree in a UK woodland when an account is opened and funded, and the trees are planted in UK woodland projects certified by the UK Government’s Woodland Carbon Code.

Topping the one year fixed ISA chart this week was Al Rayan Bank with the 12-month version of its Fixed Term Deposit Cash ISA paying an expected profit rate of 0.65% gross quarterly. To open this ISA, a £1,000 minimum deposit is needed. It accepts transfers in for up to 30 days from account opening. The ISA can be opened online, in branch, by phone or via mobile app and then managed online, in branch, by post, by phone and via mobile app.

Compare the best fixed rate ISAs

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)
Cynergy Bank
Virgin Money
Online ISA (Issue 9)
Easy Access Cash ISA Exclusive Issue 1
None
Instant
0.50%
0.50%
Ecology Building Society
Harpenden Building Society

Ecology Cash ISA

Cash ISA

None

Instant

0.45%

0.45%

 

Al Rayan Bank remained at the top of the easy access ISA chart this week paying 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.

Cynergy Bank and Virgin Money both paid the second-best easy access ISA rates on ISAs that do not have opening restrictions. Cynergy Bank pays 0.50% gross yearly on its Online ISA (Issue 9), on a £1 minimum deposit. As well as this, savers need a Cynergy Bank Authenticator App or Digipass to open and manage this ISA. It allows further additions and withdrawals. Transfers in are only permitted on account opening. The ISA must be opened and managed online. Virgin Money pays 0.50% gross yearly on its Easy Access Cash ISA Exclusive Issue 1, which requires no minimum deposit to open. This ISA is available to new Virgin Money, Clydesdale Bank or Yorkshire Bank current account customers or those who have held a current account from 4.12.19. It allows further additions and withdrawals. Transfers in are accepted. The ISA can be opened online or in branch and then managed online, in branch, by post, by phone and via mobile app. Tipton & Coseley Building Society also pays 0.50% gross yearly on its Branch ISA (Issue 4), but savers should be aware that this ISA is only available to those who live within the B, DY, WS or WV postcode areas.

Both Ecology Building Society and Harpenden Building Society had the third-best easy access ISA rate this week on ISAs without opening restrictions. Ecology Building Society pays 0.45% gross yearly on its Ecology Cash ISA, which requires a £25 minimum deposit to open. Further additions and withdrawals are permitted. Transfers in are not accepted. This ISA must be opened by post but can then be managed online and by post. Harpenden Building Society pays 0.45% gross yearly on its Cash ISA. This ISA requires a £1 minimum deposit to open and allows further additions and withdrawals. Transfers in are not accepted. It can be opened in branch or by post and then managed online, in branch and by post. Progressive Building Society also pays 0.45% gross yearly on its Cash ISA Saver but savers should not that this ISA is only available to those living in Northern Ireland.

Compare the best easy access ISAs

The best notice ISA rates

Provider Account Notice Rate AER
Marsden Building Society Branch Cash ISA 95 (Issue 2) 95 days 0.55%
Aldermore 30 Day Notice Cash ISA Issue 11 30 days 0.40%
Kent Reliance Cash ISA – 60 Day Notice – Issue 25 60 days 0.35%

 

Marsden Building Society’s Branch Cash ISA 95 (Issue 2) continued to top the ISA notice chart this week, paying 0.55% gross yearly on deposits of £5,000. A higher rate of 0.65% is paid on deposits of £25,000, and a lower rate of 0.45% is paid on deposits of £1,000. Further additions are allowed. Withdrawals can be made subject to 95 days’ notice, or if notice is not given, earlier access is allowed on closure only on 95 days’ loss of interest. Transfers in from cash ISAs are accepted. This ISA must be opened and managed in branch.

Aldermore had the second-best notice ISA rate this week with its 30 Day Notice Cash ISA Issue 11 paying 0.40% gross on anniversary or monthly on a £1,000 minimum opening deposit. This ISA permits further additions. Withdrawals are allowed subject to 30 days’ notice, or if notice is not given, earlier access is permitted on 30 days’ loss of interest. Transfers in are accepted. It can only be opened and managed online.

The third-best notice ISA rate this week continued to be offered by Kent Reliance, which pays 0.35% gross yearly or monthly on its Cash ISA – 60 Day Notice – Issue 25. This ISA requires a £1,000 minimum deposit to open. It allows further additions via cash at a branch, cheque, bank transfer or debit card. Withdrawals can be made subject to 60 days’ notice. If notice is not given, earlier access is allowed on 60 days’ loss of interest. The withdrawal method is dependent on how the account was opened. Transfers in are accepted but transfer requests must be made within 30 days of account opening. The ISA can be opened online, in branch or by post and then managed online, in branch, by post and by phone.

Compare the best notice ISAs

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