The best ISA rates this week 16.01.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 16/01/2020

With news yesterday that inflation during December fell to 1.3%, more ISAs now offering inflation-beating rates as a result. In fact, research carried out by Moneyfacts.co.uk found that on the day the inflation figures were released 90 fixed rate ISAs and 14 variable rate ISAs could beat or match inflation. Saying this, with inflation falling it has increased the chances of a Bank of England base rate rise, which if happened, could see ISA rates drop even lower than they are today.

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
UBL UK 5 Year Fixed Rate Cash ISA Five years 2.03%
Marsden Building Society

Metro Bank

Secure Trust Bank
Fixed Rate Cash ISA (Issue 119)
3 Year Fixed Rate Cash ISA (Issue 8)
3 Year Fixed Rate Cash ISA
Three years 1.70%
Metro Bank

Secure Trust Bank
2 year Fixed Rate Cash ISA (Issue 10)
2 Year Fixed Rate Cash ISA
Two years 1.60%
Cynergy Bank Loyalty Fixed Rate Cash ISA One year 1.45%

UBL UK continued to offer the top rate in the fixed ISA chart this week with its 5 Year Fixed Rate Cash ISA offering a highly competitive rate of 2.11% gross on maturity. This ISA requires an opening minimum deposit of £2,000 and allows transfers in from cash ISAs. It can be opened in branch or by post and then managed only by post. There are also versions of this ISA that pay interest on anniversary, quarterly and monthly all at lower gross rates.

Aldermore reduced the rate on its three year fixed ISA during the week, however three providers continue to offer the top rate of 1.70%. Marsden Building Society pays 1.70% gross yearly on its Fixed Rate Cash ISA (Issue 119). This ISA requires an opening minimum deposit of £5,000 and allows transfers in from cash ISAs only. It can only be opened in branch and then managed in branch, by post and by phone. Metro Bank pays 1.70% gross yearly on its 3 Year Fixed Rate Cash ISA (Issue 8), which does not require a deposit to open. It allows transfers in within 30 days of account opening. This ISA can only be opened in branch, but can then be managed online, in branch and by phone. Secure Trust Bank offers 1.70% gross yearly on its 3 Year Fixed Rate Cash ISA. This ISA requires an opening minimum deposit of £1,000 and allows transfers in from cash ISAs. It can only be opened online but can then also be managed by phone.

The top rate in the two year fixed ISA charts continued to stand at 1.60% this week. Metro Bank offers 1.60% gross yearly on its 2 Year Fixed Rate Cash ISA (Issue 10), which does not require a deposit to open. This ISA allows transfers in within 30 days of the account opening. It must be opened in branch, but can then be managed online, in branch and by phone. Secure Trust Bank offers 1.60% gross yearly on its 2 Year Fixed Rate Cash ISA, which requires an opening minimum deposit of £1,000. It only allows transfers in from cash ISAs. It can be opened online and then managed online and by phone.

Cynergy Bank remained at the top of the one year fixed ISA chart this week, offering 1.45% gross on its anniversary on its Loyalty Fixed Rate Cash ISA. This ISA is only available to existing customers for six months or more and requires a £500 minimum deposit to open. It allows transfers in and can only be opened online, but can then be managed online, 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)
Cynergy Bank Online ISA (Issue 1) None 1.31%
Leeds Building 


Yorkshire Building Society 
Double Access ISA
Limited Issue Online Access ISA (Issue 16)
1 Year Limited Access Saver ISA Issue 3
Annual Access Account ISA
Instant
None

None

Instant
1.30%

Al Rayan Bank once again topped the easy access ISA chart this week with its Instant Access Cash ISA paying an expected profit rate of 1.35% gross monthly. This ISA requires an opening minimum deposit of £50 and allows unlimited further additions and withdrawals. Transfers in are also permitted. It can be both opened and managed online, in branch, by post, by phone and via mobile app.

Cynergy Bank also continued to offer its highly competitive rate of 1.31% gross yearly on its Online ISA (Issue 1) this week. This ISA requires just a £1 minimum deposit to open and allows unlimited further additions and withdrawals. Transfers in are allowed. It can only be opened and managed online.

Two providers offered the third-best rate of 1.30% this week. Leeds Building Society pays 1.30% gross yearly on its Double Access ISA, while its Limited Issue Online Access ISA (Issue 16) pays this gross rate on maturity. Double Access ISA requires an opening minimum deposit of £5,000 and allows unlimited further additions, while withdrawals are restricted to two withdrawals per calendar year, then 30 days’ loss of interest on all withdrawals thereafter. Limited Issue Online Access ISA (Issue 16) requires an opening minimum deposit of £1,000 and allows unlimited further additions and withdrawals. Both ISAs permit transfers in. Double Access ISA can only be opened in branch, then managed in branch and by post. Limited Issue Online Access ISA (Issue 16) can only be opened and managed online. Yorkshire Building Society pays 1.30% gross on anniversary on its 1 year Limited Access Saver ISA Issue 3 and its Annual Access Account ISA. Both require an opening minimum deposit of £100 and allow unlimited further additions. Withdrawals on both ISAs are restricted to one withdrawal day per account year. Transfers in are permitted with both ISAs. 1 Year Limited Access Saver ISA Issue 3 can only be opened and managed online, while Annual Access Account ISA can be opened in branch and by post and then managed online, in branch and by post.

The best notice ISA rates

Provider Account Notice Rate AER
Teachers Building Society Education ISA (Issue 1) 90 days 1.40%
Paragon Bank 120 Day Notice Cash ISA – Issue 1 120 days 1.31%
Aldermore 30 Day Notice Cash ISA Issue 7 30 days 1.30%

Teachers Building Society continued to offer the top rate in the notice ISA chart this week with its Education ISA (Issue 1) paying 1.40% gross yearly. This ISA is only available to teachers and other education professionals. It requires a minimum opening deposit of £100 and allows unlimited further additions, while withdrawals are permitted on 90 days’ notice. Transfers in are allowed. It can be both opened and managed online and by post.

Paragon Bank entered the notice ISA chart this week with its 120 Day Notice Cash ISA – Issue 1 paying 1.31% gross on anniversary. To open this ISA, a minimum deposit of £500 is required and it allows unlimited further additions. Withdrawals are allowed subject to 120 days’ notice, while earlier access is permitted on 120 days’ loss of interest. This ISA allows transfers in. It can only be opened and managed online. There is a version of this ISA that pays interest monthly at a slightly lower gross rate.

Aldermore remained in the notice ISA chart this week, with its 30 Day Notice Cash ISA Issue 7 continuing to pay 1.30% gross on anniversary. This ISA requires an opening minimum deposit of £1,000 and allows unlimited further additions. Withdrawals can be made subject to 30 days’ notice, while earlier access is permitted on 30 days’ loss of interest. It allows transfers in. This ISA can only be opened and managed online and there is a version that pays interest monthly at a slightly lower gross rate.

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