The Best ISA Rates This Week 19.11.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 19/11/2020

With inflation rising again during October, many savers will be disappointed to see that no easy access ISAs can now beat the current Consumer Price Index (CPI) of 0.7%, with the best rate in the chart standing at 0.65%. Instead, ISA savers looking to beat inflation will have to consider a fixed rate ISA, of which all the top rates in the charts can currently beat inflation, or a 90-day notice ISA.

It should be noted that the rates below are the best rates available at 1pm on Thursday 19 November 2020 and, although correct at the time of publishing, they may not be available after this time.

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%
Coventry Building Society Poppy Fixed ISA (3) 30.11.2023 30.11.23 0.85%

Furness Building Society



Monmouthshire Building Society

Newcastle Building Society

Fixed Rate Cash ISA (Issue 165)
Fixed Rate eSavings Cash ISA (Issue 15)
2 Year Fixed Rate Cash ISA – Issue 8

Two Year Fixed Rate ISA (Issue 54)

Two years

Two years

Two years


12.01.23

0.80%

0.80%

0.80%


0.80%

Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 1 29.10.21 1.00%

 

The top rate in the fixed rate ISA charts 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. It 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 slightly lower rate of 1.24% gross.

The top-paying five year fixed rate ISA this week came from UBL UK, which pays 1.18% gross on maturity on its 5 Year Fixed Rate Cash ISA. Savers can also choose versions of this ISA that pay 1.15% gross on anniversary or quarterly, or 1.14% monthly. All options require a £2,000 minimum deposit to open. Transfers in from cash ISAs are accepted. These ISAs can be opened in branch or by post and then managed by post.

Coventry Building Society had the top-paying three year fixed ISA this week, with its Poppy Fixed ISA (3) 30.11.2023 paying 0.85% gross yearly. A minimum deposit of just £1 is needed to open this ISA. Transfers in are accepted within 14 days of account opening or while the issue remains open, whichever period is longer. It can be both opened and managed online, in branch, by post and by phone. In addition, 0.15% of the total balance held is paid to The Royal British Legion on 31.12.2020.

There are currently seven ISAs in the two year fixed ISA chart that pay the top rate of 0.80%, but just four of these do not have restrictive opening conditions. Furness Building Society pays 0.80% gross on anniversary on both its Fixed Rate Cash ISA (Issue 165) and its Fixed Rate eSavings Cash ISA (Issue 15). Fixed Rate Cash ISA (Issue 165) requires a £1,000 minimum deposit to open. It accepts transfers in from cash ISAs. The ISA can be both opened and managed in branch and by post. Fixed Rate eSavings Cash ISA (Issue 15) also requires a minimum opening deposit of £1,000 and accepts transfers in from cash ISAs, but this ISA can only be opened and managed online. Monmouthshire Building Society pays 0.80% gross yearly on its 2 Year Fixed Rate Cash ISA – Issue 8. To open this ISA, a minimum deposit of £3,000 is needed. Transfers in from cash ISAs are accepted. It is only available to those in England and Wales and must be opened in branch, but it can then be managed online, in branch and by post. Newcastle Building Society pays 0.80% gross yearly on its Two Year Fixed Rate ISA (Issue 54). This ISA requires a minimum opening deposit of £500. It accepts transfers in. The ISA must be opened in branch but can then be managed online, in branch, by post and by phone. There is also a version of this ISA that pays interest monthly at the same gross rate.

Topping the one year fixed rate ISA chart this week was Virgin Money, which pays 1.00% gross on maturity on its 1 Year Fixed Rate Cash ISA Exclusive Issue 1. This ISA matures on the 29 October 2021 and is only available to new and existing Virgin Money, Clydesdale Bank or Yorkshire Bank current account customers from 4 December 2019. Savers should be aware that after it matures it reverts into an Easy Access Cash ISA Exclusive. It requires no minimum deposit to open. Transfers in are accepted. It can be opened online or in branch and then managed in branch and by post.

Compare the best 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
Paragon Bank Triple Access ISA (Issue 2) None 0.65%

Al Rayan Bank

Bath Building Society

Gatehouse Bank

Kent Reliance

Scottish Building Society

Skipton Building Society

Instant Access Cash ISA (Issue 2)
Instant ISA

Easy Access Cash ISA

Cash ISA - Easy Access - Issue 24
Loyalty Cash ISA


Cash ISA Saver Plus Issue 1

Instant

Instant

None

Instant

Instant


Instant

0.60% (expected profit rate)
0.60%

0.60% (expected profit rate)
0.60%

0.60%


0.60% (includes a 0.20% bonus for 12 months)

 

The highest-paying easy access ISA this week came from Paragon Bank, which pays 0.65% gross on anniversary or monthly on its Triple Access ISA (Issue 2). This ISA requires a £1 minimum deposit to open and allows further additions via a nominated account. Withdrawals are restricted to three in a 12-month period and a lower interest rate of 0.25% is paid if more than three withdrawals are made within the period. Transfers in are accepted. It can only be opened and managed online.

Six ISAs without opening restrictions paid the second-best rate of 0.60% this week. Al Rayan Bank pays an expected profit rate of 0.60% gross monthly on its Instant Access Cash ISA (Issue 2), which requires a £50 minimum deposit to open. This ISA allows further additions and withdrawals. Transfers in are accepted. It can be both opened and managed online, in branch, by post, by phone and via mobile app.

Bath Building Society pays 0.60% gross yearly on its Instant ISA, which requires a minimum deposit of £1 to open. This ISA allows further additions and withdrawals. Transfers in from cash ISAs are accepted. It can be both opened and managed in branch and by post.

Gatehouse Bank pays an expected profit rate of 0.60% gross on anniversary on its Easy Access Cash ISA. To open this ISA, a £1,000 minimum deposit is needed. It allows further additions and withdrawals. Transfers in are accepted. This ISA can only be opened and managed online.

Kent Reliance pays 0.60% gross yearly or monthly on its Cash ISA – Easy Access – Issue 24 on a £1,000 opening minimum deposit. Although this ISA can be opened with just a £1 deposit for yearly interest, a lower rate of 0.10% is paid on balances under £1,000. It allows further additions. Withdrawals are permitted but the method is dependent on how the account is opened. Transfer requests must be made within 30 days of account opening. It can be opened online, in branch or by post and then managed online, in branch, by post and by phone.

Scottish Building Society pays 0.60% gross yearly on its Loyalty Cash ISA, which requires a £1 minimum deposit to open. This ISA permits further additions and withdrawals. Transfers in are accepted. It can be both opened and managed in branch and by post.

Skipton Building Society’s Cash ISA Saver Plus Issue 1 pays 0.60% gross on anniversary, which includes a 0.20% bonus for 12 months. To open this ISA, a minimum deposit of £1 is needed. It allows further additions and withdrawals. External transfers in are accepted. The ISA can be both opened and managed in branch, by post and by phone, and must be opened with new money to the institution.

Compare the best easy access ISAs

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

The best notice ISA rates

Provider Account Notice Rate AER
Teachers Building Society Education ISA (Issue 1) 90 days 1.00%
Kent Reliance Cash ISA - 60 Day Notice - Issue 23 60 days 0.65%
Aldermore 30 Day Notice Cash ISA Issue 10 30 days 0.55%

 

The best-paying notice ISA this week came from Teachers Building Society, which pays 1.00% gross yearly on its Education ISA (Issue 1). This ISA is only available to teachers and other education professionals and requires a £100 minimum deposit to open. It allows further additions. Withdrawals are permitted via a nominated account subject to 90 days’ notice. External transfers in are accepted. This ISA can be both opened and managed online and by post.

The best ISA rate in the up to 60 days’ chart came from Kent Reliance. Its Cash ISA – 60 Day Notice – Issue 23 pays 0.65% gross yearly or monthly on a £1,000 opening minimum deposit. Further additions are allowed. Withdrawals can be made subject to 60 days’ notice and if notice is not given, earlier access is permitted on 60 days’ loss of interest. The withdrawal method is dependent on how the account is opened. Transfers in are allowed but requests must be made within 30 days of account opening. This ISA can be opened online, in branch or by post and then managed online, in branch, by post and by phone.

In the up to 30 days’ ISA chart, Aldermore had the top rate on its 30 Day Notice Cash ISA Issue 10, which pays 0.55% gross on anniversary or monthly. To open this ISA, a minimum deposit of £1,000 is needed. Further additions are allowed. Withdrawals can be made subject to 30 days’ notice, or if notice is not given, earlier access is permitted on 30 days’ loss of interest. Transfers in are accepted. This ISA can only be opened and managed online.

Compare the best notice ISAs

All the rates available can be found on our notice ISA charts.

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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