Derin Clark

Derin Clark

Online Reporter
Published: 12/12/2019

Consumers looking to open an ISA just before Christmas will find a number of competitive rates available in the ISA charts this week. The top fixed rate from last week was still available on a five year fixed ISA, while highly attractive rates were also available on short-term ISAs as well. Last week’s top-paying easy access ISA from Virgin Money was no longer available this week, but savers will still be able to find competitive rates currently available in the charts.

It should be noted that the rates below are the best rates available on Thursday and, although correct at the time of publishing, they may not be available on Friday. 

The best fixed rate ISA savings rates

Provider Account Term Rate AER
Secure Trust Bank 5 Year Fixed Rate Cash ISA 06.01.25 2.02%
UBL UK 3 Year Fixed Rate Cash ISA Three years 1.76%
UBL UK 2 Year Fixed Rate Cash ISA Two years 1.67%
Cynergy Bank Loyalty Fixed Rate Cash ISA One year 1.45%

Savers looking to lock their money into a long-term fixed rate ISA this week found that Secure Trust Bank remained at the top of the five year fixed ISA chart. Secure Trust Bank remains in first position with its 5 Year Fixed Rate Cash ISA paying 2.02% gross yearly on an opening minimum deposit of £1,000. This ISA allows transfers in from cash ISAs only and can be opened online and then managed online and by phone.

Back to the top of the three and two year charts this week was UBL UK. Its 3 Year Fixed Rate Cash ISA tops the three year chart paying 1.79% gross on maturity, while its 2 Year Fixed Rate Cash ISA offers a chart-topping 1.68% on maturity. Both accounts require an opening minimum deposit of £2,000 and both allow transfers in from cash ISAs. Savers can open these ISAs in branch or by post and then manage them by post. In addition to this, there are versions of both accounts that pay interest on anniversary and monthly at a lower gross rate, while there is also a version of 3 Year Fixed Rate Cash ISA that pays interest quarterly, again at a lower gross rate.

Remaining at the top of the one year fixed ISA chart this week was Cynergy Bank, with its Loyalty Fixed Rate Cash ISA paying 1.45% gross on an opening minimum deposit of £500. Savers should be aware that this ISA is only available to existing customers of six months or more. This ISA allows transfers in and can only be opened online, but can then be managed online, in branch, by post and by phone. 

The best easy access ISA rates

Provider Account Notice Rate AER
Al Rayan Bank Instant Access Cash ISA Instant 1.36% expected profit rate
Yorkshire Building Society 1 Year Limited Access Saver ISA Issue 2 None 1.35%
Family Building Society Market Tracker Cash ISA (2) Instant 1.34%

Last Friday, Virgin Money reduced the rates on its chart-topping easy access ISAs, resulting in Al Rayan Bank being the only provider to offer the top rate this week. Al Rayan Bank offers an expected profit rate of 1.35% gross on its Instant Access Cash ISA, which pays profit monthly. This ISA requires an opening minimum deposit of £50 and allows unlimited further additions and withdrawals. Transfers in are also allowed. It can be both opened and managed online, in branch, by post, by phone and via its mobile app.

Taking second spot in the chart this week was Yorkshire Building Society with its 1 Year Limited Access Saver ISA Issue 2, which pays 1.35% gross on anniversary. A £100 minimum deposit is required to open this account. It allows unlimited further additions, however withdrawals are restricted to one withdrawal day per account year. Transfers in are allowed. This ISA can only be opened and managed online.

Third in the chart this week was Family Building Society with its Market Tracker Cash ISA (2) paying 1.34% gross yearly and requires an opening minimum deposit of £500. This ISA allows unlimited further additions and withdrawals. Transfers in are permitted. It can be opened online, in branch, by post and then managed by phone as well. It should also be noted that this ISA has a rate guarantee, which means that the gross rate is guaranteed to be at least 0.05% above Market Tracker Saver account interest rate.

The best notice ISA rates

Provider Account Notice Rate AER
Teachers Building Society Education ISA (Issue 1) 90 days 1.40%
Aldermore 30 Day Notice Cash ISA Issue 7 30 days 1.30%

There was no change at the top of the notice ISA chart this week with Teacher’s Building Society remaining in first place with its Education ISA (Issue 1). This ISA pays 1.40% gross yearly on an opening minimum deposit of £100. It should be noted that this ISA is only available to teachers and other education professionals. It allows unlimited further additions, while withdrawals are allowed subject to 90 days’ notice. Transfers in are allowed. This ISA can be both opened and managed online and by post.

Aldermore continued to offer the top short-term ISA notice rate this week, with its 30 Day Notice Cash ISA Issue 7 paying 1.30% gross on anniversary on an opening minimum deposit of £1,000. This ISA allows unlimited further additions and withdrawals are permitted subject to 30 days’ notice, if notice is not given, early access is allowed on 30 days’ loss of interest. This ISA also allows transfers in. It can be opened and managed online.

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.

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy