The Best ISA Rates This Week 18.03.21 | moneyfacts.co.uk

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MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Derin Clark

Derin Clark

Online Reporter
Published: 18/03/2021

Earlier in the week, Nationwide Building Society launched an 18 month fixed rate ISA that pays the top rate in the one year and two year fixed rate ISA charts. This ISA has the added benefit of offering a £50 transfer incentive, but it is only available to existing customers and, as result, has not been included in the top rates highlighted below.

Savers should also note that the rates below are the best rates available at 12pm on Thursday 18 March 2021 and, although correct at the time of publishing, they may not be available after this time.

An alternative to a cash ISA could be a stocks and shares ISA, which offers the same tax-free allowance, although savers should be aware these are a much riskier option and are normally only suited to long-term investors. More information about this type of investment can be found on our stocks and shares ISA page.

The best fixed rate ISA savings rates

Provider Account Term Rate AER
Shawbrook Bank 7 Year Fixed Rate Cash ISA Bond Issue 3 Seven years 1.25%
UBL UK 5 Year Fixed Rate Cash ISA Five years 1.15%

Close Brothers Savings

Shawbrook Bank

West Brom Building Society

3 Year Fixed Rate Cash ISA
3 Year Fixed Rate Cash ISA Bond Issue 24
3 Year Fixed Rate ISA

Three years

Three years

05.04.24

0.75%

0.75%

0.75%

West Brom Building Society 2 Year Fixed Rate ISA 05.04.23 0.70%
West Brom Building Society 1 Year Fixed Rate ISA 05.04.22 0.55%

 

The top-paying fixed rate ISA this week came from Shawbrook Bank, which 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. Earlier access is permitted subject to 360 days’ loss of interest. Transfers in are accepted. The ISA must be opened online, but can then be managed online and by phone. There is a version of this ISA that pays interest monthly at a slightly lower gross rate of 1.24%.

Paying the top rate in the five year fixed rate ISA chart this week was UBL UK, which pays 1.15% gross on anniversary or quarterly on its 5 Year Fixed Rate Cash ISA. There is also a version of this ISA that pays a higher gross rate of 1.18% on maturity and a lower rate of 1.14% monthly. All options require a £2,000 minimum deposit to open. Earlier access is allowed on closure only and subject to 365 days’ loss of interest. Transfers in from cash ISAs are accepted. These ISAs can be opened in branch or by post but must then be managed by post.

Three providers had the top rate in the three year fixed rate ISA chart this week. Close Brothers Savings pays 0.75% gross on anniversary on its 3 Year Fixed Rate Cash ISA, which requires a £10,000 minimum deposit to open. This ISA permits earlier access on closure only and subject to 270 days’ loss of interest. It accepts transfers in but transfer instructions must be received within 10 days of account opening. The ISA can only be opened online but can then be managed online, by post and by phone. Shawbrook Bank pays 0.75% gross on anniversary on its 3 Year Fixed Rate Cash ISA Bond Issue 24. A £1,000 minimum deposit is needed to open this ISA. It allows earlier access subject to 270 days’ loss of interest. Transfers in are accepted. The ISA must be opened online but can then be managed online and by phone. There is a version of this ISA that pays interest monthly at the same gross rate. West Brom Building Society pays 0.75% gross yearly until 05.04.24 on its 3 Year Fixed Rate ISA, which requires a £1,000 minimum deposit to open. This ISA permits earlier access subject to 120 days’ notice or loss of interest. Transfers in are accepted. It can only be opened and managed in branch.

West Brom Building Society topped the two and one year fixed rate ISA chart this week. Its 2 Year Fixed Rate ISA pays 0.70% gross yearly until 05.04.23 and its 1 Year Fixed Rate ISA pays 0.55% gross yearly until 05.04.22. Both ISAs require a £1,000 minimum deposit to open. They allow earlier access subject to 90 days’ notice or loss of interest. Transfers in are accepted. These ISAs can only be opened and managed in branch. In the one year fixed rate ISA chart, Cynergy Bank also offered a rate of 0.55% gross on anniversary on its Loyalty Fixed Rate Cash ISA, but this ISA is only available to existing customers of six months or more – further information about this ISA can be found on our one year fixed rate ISA chart.

Compare the best fixed rate ISAs

The best easy access ISA rates

Provider Account Notice Rate AER
Al Rayan Bank Instant Access Cash ISA (Issue 2) Instant 0.60% (expected profit rate)
Paragon Bank Triple Access ISA (Issue 3) None 0.40%
Charter Savings Bank Easy Access Cash ISA - Issue 20 None 0.40%
Leeds Building Society Defined Access ISA Instant 0.40%
Marsden Building Society Branch Cash ISA (Issue 5) Instant 0.40%
Nationwide Building Society 1 Year Triple Access Online ISA 10 None 0.40%
Stafford Railway Building Society Cash ISA Account Instant 0.40%
Yorkshire Building Society Six Access e-Saver ISA Issue 5 None 0.40%

 

The top easy access ISA rate this week came from Al Rayan Bank, which pays an expected profit rate of 0.60% gross monthly on its Instant Access Cash ISA (Issue 2). This ISA requires a £50 minimum deposit to open. Further additions and withdrawals are allowed. Transfers in are accepted. The ISA can be both opened and managed online, in branch, by post, by phone and via mobile app.

This week, seven ISAs without opening restrictions had the second-best easy access ISA rate of 0.40%. Paragon Bank pays 0.40% gross on anniversary on its Triple Access ISA (Issue 3), which can be opened with a minimum deposit of just £1. Further additions are allowed via a nominated account and withdrawals are permitted but a lower rate is paid if more than three withdrawals are made in a 12-month period. Transfers in are accepted. The ISA 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 pays 0.40% gross on anniversary on its Easy Access Cash ISA – Issue 20. A £5,000 minimum deposit is needed to open this ISA, which allows further additions via a nominated account. Withdrawals can be made at any time. Transfers in are accepted. This ISA can only be opened and managed online. There is also a version of this ISA that pays interest monthly at the same gross rate.

Leeds Building Society’s Defined Access ISA pays 0.40% gross yearly and requires a £5,000 minimum deposit to open. This ISA allows further additions while the issue remains open. Up to four withdrawals per calendar year are allowed but there is then 30 days’ loss of interest on all further withdrawals. Transfers in are accepted. The ISA can be both opened and managed in branch and by post.

Also paying 0.40% gross yearly this week was Marsden Building Society’s Branch Cash ISA (Issue 5). This ISA requires a £25 minimum deposit to open. It permits both further additions and withdrawals. Transfers in from cash ISAs are accepted. The ISA can only be opened and managed in branch.

Nationwide Building Society pays 0.40% gross on anniversary on its 1 Year Triple Access Online ISA 10, which requires a £1 minimum deposit to open. Savers should be aware that this ISA reverts to a Triple Access Online ISA after 12 months. Further additions are allowed. Withdrawals can be made but a lower rate is paid for the remainder of the term if more than three withdrawals are made per annum. The ISA can be both opened and managed online and via mobile app.

Stafford Railway Building Society pays 0.40% gross yearly on its Cash ISA Account, which requires a £1 minimum deposit to open. Further additions and withdrawals are allowed. This ISA accepts transfers in from cash ISAs. It can be both opened and managed in branch and by post.

Yorkshire Building Society pays 0.40% gross yearly on its Six Access e-Saver ISA Issue 5 on deposits of £10,000. A higher rate of 0.45% is paid on deposits of £50,000 and a lower rate of 0.25% is paid on deposits of £1,000 and 0.15% on deposits of £1. Further additions are allowed. Withdrawals are restricted to six withdrawal days per anniversary year. Transfers in are accepted. It must be opened and managed online.

As well as this, Progressive Building Society, Tipton & Coseley Building Society and Vernon Building Society all pay 0.40% gross, but these ISAs all have opening restrictions. Savers interested in these ISAs should visit our easy access ISA chart for more information.

Compare the best easy access ISAs

The best notice ISA rates

Provider Account Notice Rate AER
Marsden Building Society Branch Cash ISA 95 (Issue 2) 95 days 0.55%
Buckinghamshire Building Society 30 Day Cash ISA 30 days 0.30%

 

Topping the notice ISA chart this week was Marsden Building Society’s Branch Cash ISA 95 (Issue 2), which pays 0.55% gross yearly on deposits of £5,000. A higher rate of 0.65% is paid on deposits of £25,000 and a lower rate of 0.45% is paid on deposits of £1,000. Further additions are allowed. Withdrawals can be made subject to 95 days’ notice or, if notice is not given, earlier access is allowed on closure only and subject to 95 days’ loss of interest. Transfers in from cash ISAs are accepted. This ISA can only be opened and managed in branch.

Tipton & Coseley Building Society had the next best notice ISA rate, although savers should be aware that this ISA has opening restrictions – more information about this ISA can be found in our notice ISA chart.

The next best notice ISA rate this week came from Buckinghamshire Building Society, which pays 0.30% gross yearly on its 30 Day Cash ISA. A £100 minimum deposit is needed to open this ISA. Further additions are allowed. Withdrawals can be made subject to 30 days’ notice, and if notice is not given, earlier access is permitted subject to 30 days’ loss of interest. Transfers in are not accepted. The ISA can be both opened and managed in branch and by post. There is a version of this ISA that pays interest monthly at the same gross rate.

Compare the best notice ISAs

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