Derin Clark

Derin Clark

Online Reporter
Published: 19/12/2019

The biggest changes in the ISA charts this week took place in the fixed ISA chart, with many of last week’s top rates no longer available to savers. Saying this, UBL UK increased the rate on its five year fixed ISA during the week, which meant that savers could get a higher rate overall in this chart compared to last week. In addition to this, savers looking for an easy access ISA or a notice ISA would be pleased to see that all of last week’s most competitive rates were still available this week.

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%
Aldermore 3 Year Fixed Rate Cash ISA Three years 1.70%
Metro Bank 2 Year Fixed Rate Cash ISA (Issue 10) Two years 1.60%
Charter Savings Bank 1 Year Fixed Rate Cash ISA One year 1.41%

Many of the top rates available in last week’s fixed ISA chart were no longer available by the end of the week. UBL UK was back to the top of the chart overall with its 5 Year Fixed Rate Cash ISA paying 2.11% gross on maturity on an opening minimum balance of £2,000. This ISA allows transfers in and can be opened in branch or by post, then managed only by post. There are versions of this ISA that pay interest on its anniversary, quarterly and monthly at a slightly lower gross rate.

New to the top of the three year chart this week was Aldermore with its 3 Year Fixed Rate Cash ISA paying 1.70% gross on its anniversary. This ISA requires an opening minimum deposit of £1,000 and allows transfers in. It can only be opened and managed online. As well as this, there is a version of the account that pays interest monthly at a slightly lower gross rate.

Metro Bank was new to the top of the two year fixed ISA chart this week. Its 2 Year Fixed Rate Cash ISA (Issue 10) pays 1.60% gross yearly on an opening minimum deposit of just £1. This ISA allows transfers in and can only be opened in branch but can then be managed online, in branch and by phone.

Due to Cynergy Bank tightening the opening restrictions on its Loyalty Fixed Rate Cash ISA, Charter Savings Bank now offers the best rate in the one year chart. Its 1 Year Fixed Rate Cash ISA pays 1.41% gross on its anniversary on an opening minimum deposit of £5,000. The ISA allows transfers in and can only be opened and managed online. There is also a version of this ISA that pays interest monthly at a slightly lower gross rate.

The best easy access ISA rates

Provider Account Notice Rate AER
Al Rayan Bank Instant Access Cash ISA Instant 1.36% expected profit rate
Yorkshire Building Society 1 Year Limited Access Saver ISA Issue 2 None 1.35%
Family Building Society Market Tracker Cash ISA (2) Instant 1.34%

There was no movement at the top of the easy access ISA chart this week, with Al Rayan Bank continuing to offer the highest rate overall. Its Instant Access Cash ISA pays an expected profit rate of 1.35% gross monthly on an opening minimum deposit of £50. This ISA allows unlimited further additions and withdrawals, while transfers in are also permitted. It can be both opened and managed online, in branch, by post, by phone and via mobile app.

Yorkshire Building Society also continued to offer a highly competitive rate this week with its 1 Year Limited Access Saver ISA Issue 2 paying 1.35% gross on its anniversary. This ISA requires an opening minimum deposit of £100. It allows unlimited further additions, but withdrawals are restricted to one withdrawal day per account year. This ISA allows transfers in. It can only be opened and managed online.

Family Building Society remained high in the chart this week with its Market Tracker Cash ISA (2) paying 1.34% gross yearly on an opening minimum deposit of £500. This ISA allows unlimited further additions and withdrawals. As well as this, transfers in are also permitted. It can be opened online, in branch or by post and then managed by all of these channels as well as by phone. The gross rate is guaranteed to be at least 0.05% above the Market Tracker Saver interest rate.

The best notice ISA rates

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

This week, Teachers Building Society remained at the top of the notice ISA chart with its Education ISA (Issue 1) paying 1.40% gross yearly. This ISA requires an opening minimum deposit of £100, but it should be noted that it is only available to teachers and other education professionals. The ISA allows unlimited further additions, and withdrawals are also permitted but are subject to 90 days’ notice. It allows transfers in. The ISA can be both opened and managed online and by post.

Remaining at the top of the short-term notice ISA chart this week was Aldermore. Its 30 Day Notice Cash ISA Issue 7 pays 1.30% gross on its anniversary and requires an opening minimum deposit of £1,000. The ISA allows unlimited further additions. Withdrawals are permitted subject to 30 days’ notice, but if notice is not given, early access is allowed on 30 days’ loss of interest. Transfers in are allowed. This ISA must be opened and managed online.

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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