ISA savers looking for a short-term fixed rate ISA will be pleased to see new higher rates topping the one and two year fixed rate ISA charts this week. In addition to this, competition towards the top of the easy access ISA chart has improved this week, with more providers offering the third top rate of 0.90%.
It should be noted that the rates below are the best rates available at 12pm on Thursday 17 September 2020 and, although correct at the time of publishing, they may not be available after this time.
|5 Year Fixed Rate Cash ISA
5 Year Fixed Rate Cash ISA
|Secure Trust Bank||3 Year Fixed Rate Cash ISA||20.10.23||1.11%|
|Hodge Bank||2 Year Fixed Rate Cash ISA||Two years||1.05%|
|Hodge Bank||1 Year Fixed Rate Cash ISA||One year||1.00%|
Both Hodge Bank and UBL UK had the top paying fixed ISA rates this week. Hodge Bank pays 1.40% gross yearly on its 5 Year Fixed Rate Cash ISA, which requires a £1,000 minimum deposit to open. This ISA accepts transfers, but all transfers must be from a minimum of £1,000. It can be opened online or by post and then managed online, by post and by phone. There is a version of this ISA that pays interest monthly at a 1.39% gross rate. UBL UK’s 5 Year Fixed Rate Cash ISA pays 1.44% gross on maturity, 1.40% gross on anniversary, and 1.39% gross quarterly or monthly. All options require a £2,000 minimum deposit to open. They accept transfers in from cash ISAs. These ISAs can be opened in branch or by post but must be managed by post.
The top three year fixed ISA rate this week came from Secure Trust Bank, which pays 1.11% gross yearly on its 3 Year Fixed Rate Cash ISA. This ISA requires a £1,000 minimum deposit to open. It accepts transfers in from cash ISAs. The ISA must be opened online but can then be managed online and by phone.
Hodge Bank had the top paying two and one year fixed rate ISAs this week. Its 2 Year Fixed Rate Cash ISA pays 1.05% gross yearly or 1.04% gross monthly, and its 1 Year Fixed Rate Cash ISA pays 1.00% gross on maturity or monthly. All options require a £1,000 minimum deposit to open. They accept transfers in, but all transfers must be from a minimum of £1,000. These ISAs can be opened online or by post and then managed online, by post, and by phone.
|Coventry Building Society||Triple Access ISA (Online)||None||0.96%|
|Principality Building Society||Web ISA Issue 3||None||0.95%|
National Savings & Investments
West Brom Building Society
|Online ISA (Issue 4)
WeBSave Single Access ISA
Topping the easy access ISA chart this week is Coventry Building Society, which pays 0.96% gross on anniversary on its Triple Access ISA (Online). To open this ISA just a £1 minimum deposit is needed. It allows unlimited further additions. Withdrawals are restricted to three penalty-free withdrawals per annum, further withdrawals are subject to 50 days’ loss of interest. Transfers in are accepted. This ISA can only be opened and managed online. There is also a different version of this ISA that pays interest monthly at the same gross rate.
The second best easy access ISA rate this week came from Principality Building Society, which pays 0.95% gross yearly on its Web ISA Issue 3. This ISA requires a £1 minimum deposit to open. It allows further additions until 5.4.21 for the 2020/21 tax year via a nominated account. Withdrawals can be made at any time but must be made via a nominated account. Transfers in are accepted. This ISA must be opened and managed online.
Cynergy Bank, National Savings & Investments, and West Brom Building Society all pay the third best easy access ISA rate. Cynergy Bank pays 0.90% gross yearly on its Online ISA (Issue 4), which requires a minimum opening deposit of £1. This ISA allows unlimited further additions and withdrawals can be made at any time. Transfers in from cash ISAs are accepted only on account opening. It must be opened and managed online and a Cynergy Bank Authenticator App or Digipass is required to open and operate the account. National Savings & Investments (NS&I) pays 0.90% gross yearly on its Direct ISA. A minimum deposit of £1 is needed to open this ISA, which is 100% backed by HM Treasury. It allows unlimited further additions. Withdrawals can be made at any time but must be made via a nominated account. Transfers in are not permitted. It can be opened and managed online and by phone. West Brom Building Society pays 0.90% gross on its WeBSave Single Access ISA, which requires a £1,000 minimum deposit to open. Unlimited further additions are allowed. Transfers in are permitted. Withdrawals are restricted to one per account year and a lower rate of 0.05% is paid for the remainder of the year if more than one withdrawal is made. This ISA will mature on 30.11.21 into either a limited access or easy access ISA.
All the rates available can be found on our easy access ISA chart.
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.