The best ISA rates this week 15.04.21 | moneyfacts.co.uk

Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.


Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 15/04/2021

In terms of the best ISA rates this week, there have been very few changes and savers should look to capture these rates or risk them being withdrawn by the banks.


Savers should also note that the rates below are the best rates available at 4pm on Thursday 15 April 2021 and, although correct at the time of publishing, they may not be available after this time.

Is the stock market an option to improve returns?

Stocks and shares ISAs offer the same tax-free allowances as a cash ISA, but your savings are instead invested in the stock market. This means your capital is at risk, but over the longer-term this could generate a greater return than current low cash rates.

Find out more about stocks and shares ISAs.

The best fixed rate ISA savings rates

Provider

Account

Notice

Rate AER

 

Shawbrook Bank

7 Year Fixed Rate Cash ISA Bond Issue 3

Seven years

1.25%

Find out more

Shawbrook Bank

5 Year Fixed Rate Cash ISA Bond Issue 25

Five years

1.10%

Find out more

Close Brothers Savings

3 Year Fixed Rate Cash ISA

Three years

0.70%

Find out more

State Bank of India

2 Year Cash ISA Fixed Deposit

Two years

0.65%

Find out more

Monmouthshire Building Society

1 Year Fixed Rate Cash ISA – Issue 13

One year

0.49%

Find out more

There were no changes in the best rate fixed rate ISAs this week.

Over seven years, Shawbrook Bank offers the best fixed rate ISA with its 7 Year Fixed Rate Cash ISA Bond Issue 3 at 1.25% gross. Interest is paid on anniversary. Shawbrook Bank also has the best five-year fixed rate ISA, paying 1.10% gross on anniversary on its 5 Year Fixed Rate Cash ISA Bond Issue 25. These ISAs have a £1,000 minimum deposit to open and they permit earlier access subject to 360 days’ loss of interest. Transfers in are accepted. The ISAs must be opened online but can then be managed online and by phone. There are also versions of both these ISAs that pay interest monthly at a slightly lower gross rate of 1.24% gross on the seven-year option and 1.09% gross on the five-year option.


The best three-year fixed rate ISA right now is from Close Brothers Savings, with its 3 Year Fixed Rate Cash ISA paying 0.70% gross. The minimum deposit is £10,000 and interest is paid on anniversary. It allows earlier access on closure only and subject to 270 days’ loss of interest. The ISA accepts transfers in but transfer instructions must be received within 10 days of account opening. It must be opened online but can then be managed online, by post and by phone.

The best two-year fixed rate ISA this week is from State Bank of India (SBI) paying 0.65% gross on its 2 Year Cash ISA Fixed Deposit. Interest is paid on maturity and savers need at least £5,000 to open the ISA. Savers will also need to open or have a SBI current or savings account. It allows earlier access on closure only on 30 days’ notice, but it will pay zero interest if the ISA is closed before the first anniversary. After this, there is a 1% loss of interest. Transfers in from cash ISAs are accepted. The ISA can be both opened and managed online, in branch and by post.

The best one-year fixed ISA rate ISA this week is from Monmouthshire Building Society. The mutual has an interest rate of 0.49% gross on its 1 Year Fixed Rate Cash ISA – Issue 13. Interest is paid on maturity of the ISA bond. Savers need a £3,000 minimum deposit to open this ISA and they must live in England or Wales to be eligible. Earlier access is allowed on closure of the ISA only and is subject to 90 days’ loss of interest. Transfers in from cash ISAs are accepted. The ISA must be opened in branch but can then be managed online, in branch and by post.

Compare the best fixed rate ISAs

The best easy access ISA rates

Provider

Account

Notice  

Rate AER

 

Paragon Bank

Limited Edition Easy Access ISA (Issue 6)

None

0.41%

Find out more

Charter Savings Bank

Easy Access Cash ISA – Issue 20

None

0.40%

Find out more

Marcus by Goldman Sachs

Cash ISA

None

0.40%

Find out more

This week we have focussed on those easy access ISAs that can be opened online and have no withdrawal restrictions. The accounts listed above allow unlimited withdrawals and do not impose interest rate penalties if you make too many withdrawals.


Paragon Bank has the best easy access ISA rate this week with a rate of 0.41% gross on anniversary. The account is called the Limited Edition Easy Access ISA (Issue 6) and as the name suggests savers may want to act quickly to get this rate before the account is withdrawn. There is a £1 minimum deposit to open and further additions via a nominated account, while withdrawals are allowed. The ISA accepts transfers in. It must be opened and managed online. There is a version of this ISA that pays interest monthly at the same gross rate.


Charter Savings Bank’s Easy Access Cash ISA – Issue 20 pays a rate 0.40% gross on anniversary. This ISA requires a £5,000 minimum deposit to open. Further additions and withdrawals are allowed, but all transactions must be made via a nominated account. Transfers in are accepted. The ISA must be opened and managed online. There is also a version of this ISA that pays interest monthly at the same gross rate.


Marcus by Goldman Sachs removed the existing customer only restriction on its Cash ISA this week. This ISA has a rate of 0.40% gross and interest is paid monthly. It can be opened with £1 online only but then operated online and by phone. No transfers in are allowed.

Compare the best easy access ISAs

The best notice ISA rates

Provider

Account

Notice

Rate AER

 

Aldermore

30 Day Notice Cash ISA Issue 11

30 days

0.40%

Find out more

Buckinghamshire Building Society

30 Day Cash ISA

30 days

0.30%

Find out more

Kent Reliance

Cash ISA – 60 Day Notice – Issue 26

60 days

0.25%

Find out more

This week, the best notice ISAs have not changed for those accounts that are available to all savers, with the best rates ranging from 0.25% gross to 0.40 gross. Tipton & Coseley Building Society does offer a slightly higher rate of 0.45% gross with its 30 Day Notice ISA (Issue 2), but savers must live in postcode areas B, DY, WS or WV. For more information about this ISA, visit our notice ISA chart.


The next-best rate available to all savers is from Aldermore, which pays 0.40% gross on anniversary on its 30 Day Notice Cash ISA Issue 11. This ISA has a minimum deposit of £1,000 to open and further additions are allowed. Withdrawals can be made subject to 30 days’ notice; if savers need earlier access, this is possible subject to 30 days’ loss of interest. Transfers in are accepted. The ISA must be opened and managed online. There is also a version of this ISA that pays interest monthly at the same gross rate. 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.

Buckinghamshire Building Society has an interest rate of 0.30% gross yearly on its 30 Day Cash ISA. This ISA requires a £100 minimum deposit to open. It allows further additions, but not transfers in. Withdrawals can be made subject to 30 days’ notice, or if notice is not given, earlier access is permitted subject to 30 days’ loss of interest. The ISA can be both opened and managed in branch and by post. There is also a version of this ISA that pays interest monthly at the same gross rate.


Another alternative at a slightly lower rate is from Kent Reliance with its Cash ISA – 60 Day Notice – Issue 26. This has an interest rate of 0.25% gross yearly. The minimum deposit to open this ISA is £1,000. It allows further additions via cash, cheque, bank transfer or debit card. Withdrawals are permitted subject to 60 days’ notice, alternatively, earlier access is allowed on 60 days’ loss of interest and the withdrawal method is dependent on how the ISA is 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. There is a version of this ISA that pays interest monthly at the same gross rate.

Compare the best notice ISAs

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.

Cookies

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

I accept. Read our Cookie Policy