The Best ISA Rates This Week 13.08.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 13/08/2020

Those looking for a short-term fixed rate ISA will be pleased to see that a slightly higher one year fixed ISA rate was available in the chart this week. Overall, the top rates in the ISA charts remained stable this week, but savers looking to get the best possible rates should act quickly as the current uncertain economic climate means that there is a high possibility of top rates being withdrawn or reduced at any time.

Savers should note that the rates below are the best rates available at 2pm on Thursday 13 August 2020 and, although correct at the time of publishing, they may not be available after this time.

The best fixed rate ISA savings rate

Provider Account Term Rate AER

Shawbrook Bank

United Trust Bank

7 Year Fixed Rate Cash ISA Bond Issue 3
ISA 7 Year Bond

Seven years

Seven years

1.25%

1.25%

Charter Savings Bank 5 Year Fixed Rate Cash ISA Five years 1.21%
UBL UK 3 Year Fixed Rate Cash ISA Three years 1.10%
Charter Savings Bank 2 Year Fixed Rate Cash ISA Two years 0.92%
Coventry Building Society Fixed Rate ISA (114) 30.11.2021 One year 0.77%

 

Both Shawbrook Bank and United Trust Bank continued to offer their chart-topping fixed ISA rates this week. Shawbrook Bank pays 1.25% gross on anniversary on its 7 Year Fixed Rate Cash ISA Bond Issue 3. This ISA requires a £1,000 minimum deposit to open and accepts transfers in. The ISA 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 rate of 1.24% gross. United Trust Bank pays 1.25% gross on anniversary on its ISA 7 Year Bond. To open this ISA, a minimum deposit of £15,000 is needed. It accepts transfers in. This ISA can only be opened by post but can then be managed by post and by phone.

Charter Savings Bank topped the five year fixed rate ISA chart this week with its 5 Year Fixed Rate Cash ISA paying 1.21% gross on anniversary. This ISA requires a £5,000 minimum deposit to open. It accepts transfers in. This ISA can only be opened and managed online. There is also a version of this ISA that pays interest monthly at 1.20% gross. Charter Savings Bank also topped the two year ISA chart, paying 0.92% gross on anniversary. This ISA has the same terms and conditions as the five-year option.

The top rate in the three year fixed rate ISA chart this week came from UBL UK, which pays 1.11% gross on maturity on its 3 Year Fixed Rate Cash ISA. To open this ISA, a £2,000 minimum deposit is needed. It accepts transfers in from cash ISAs. The ISA can be opened in branch or by post but can only be managed by post. There are also versions of this ISA that pays 1.10% gross on anniversary or quarterly, and 1.09% gross monthly.

Topping the one year fixed rate ISA chart this week was Coventry Building Society, which pays 0.77% gross yearly on its Fixed Rate ISA (114). This ISA requires a £1 minimum opening deposit. It accepts transfers in within 14 days of account opening or while the issue remains open, whichever period is longer. It can be both opened and managed online, by post and by phone.

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
Cynergy Bank Online ISA (Issue 4) None 0.90%
National Savings & Investments Direct ISA None 0.90%
Skipton Building Society Online Bonus Cash ISA Issue 12 None 0.70% (including a 0.50% bonus for six months)

 

Both Cynergy Bank and National Savings & Investments (NS&I) continued to offer the top rate in the easy access ISA chart this week. Cynergy Bank pays 0.90% gross yearly on its Online ISA (Issue 4). This ISA requires a minimum opening deposit of £1. It allows unlimited further additions and withdrawals can be made at any time. Transfers in from cash ISAs are accepted. This ISA can only be both opened and managed online using the Cynergy Bank Authenticator App or Digipass.

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

Skipton Building Society offered the second-best easy access ISA rate this week, with its Online Bonus Cash ISA Issue 12 paying 0.95% gross on anniversary, which includes a 0.50% bonus for six months. The additional interest payment is made at the end of the bonus term and savers could consider reviewing the account when the bonus expires. To open this ISA, a minimum deposit of £1 is needed. It allows unlimited further additions and withdrawals can be made at any time. Transfers in are accepted. This ISA must be opened and managed online.

Easy access ISAs

All the rates available can be found on our easy access ISA chart.

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.

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