The best ISA Rates This Week 21.01.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 21/01/2021

ISA savers looking for a fixed account will be pleased to see that a new top rate has entered the fixed ISA chart this week. Those looking for the flexibility of an easy access ISA will see that both of last week’s top rates have remained in the charts, but only one of these ISAs does not have any opening restrictions. Many of the most competitive rates in both the easy access and notice ISA charts do have opening restrictions, so savers should be aware of any these when looking for the best deals.

Savers should also note that the rates below are the best rates available at 1pm on Thursday 21 January 2021 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 Opening Restrictions
Gatehouse Bank 5 Year Fixed Term Cash ISA Five years 1.30% (expected profit rate) None
Gatehouse Bank 3 Year Fixed Term Cash ISA Three years 0.90% (expected profit rate) None
Gatehouse Bank 2 Year Fixed Term Cash ISA Two years 0.80% (expected profit rate) None
Al Rayan Bank Fixed Term Deposit Cash ISA 12 months 0.65% (expected profit rate) None

 

New to the top of the fixed rate ISA chart this week was Gatehouse Bank, which pays an expected profit rate of 1.30% gross on anniversary on its 5 Year Fixed Term Cash ISA. Gatehouse Bank also topped the three and two year fixed ISA charts this week, paying an expected profit rate of 0.90% gross on anniversary on its 3 Year Fixed Term Cash ISA and an expected profit rate of 0.80% gross on anniversary on its 2 Year Fixed Term Cash ISA. All these ISAs require a £1,000 minimum deposit to open. Transfers in are accepted. These ISAs can only be opened and managed online.

The top rate in the one year fixed ISA chart this week came from Al Rayan Bank, which pays an expected profit rate of 0.65% gross quarterly on its Fixed Term Deposit Cash ISA. This ISA requires a £1,000 minimum deposit to open. Transfers in are accepted but only for up to 30 days from account opening. It can be opened online, in branch, by phone or via mobile app and then managed online, in branch, by post, by phone and via mobile app.

Compare the best fixed rate ISAs

The best easy access ISA rates

Provider Account Notice Rate AER Opening restrictions

Al Rayan Bank

Earl Shilton Building Society

Instant Access Cash ISA (Issue 2)
Instant Access Cash ISA

Instant

Instant

0.60% (expected profit rate)
0.60%

None

Existing Members and/or Locals (within certain Post code areas)

Cynergy Bank Online ISA (Issue 7) None 0.50% Existing customers
Ford Money Flexible Cash ISA None 0.50% Existing customers
Newbury Building Society Easy Access Cash ISA Instant 0.50% Existing Members and/or Locals (within certain post code areas)
Tipton & Coseley Building Society Branch ISA (Issue 4) Instant 0.50% None
Virgin Money Easy Access Cash ISA Exclusive Issue 1 Instant 0.50% New and existing Virgin Money, Clydesdale Bank or Yorkshire Bank current

 

Both Al Rayan Bank and Earl Shilton Building Society remained at the top of the easy access ISA chart 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 both 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. Earl Shilton Building Society pays 0.60% gross yearly on its Instant Access Cash ISA. This ISA is restricted to existing members and/or those living within certain postcodes. A £10 minimum deposit is needed to open this ISA, which allows further additions and withdrawals. Transfers in are not accepted. It can be both opened and managed in branch and by post. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.


Five ISAs offered the second-best rate in the easy access chart this week. Cynergy Bank pays 0.50% gross yearly on its Online ISA (Issue 7). This ISA is only available to existing customers and requires a £1 minimum deposit to open. It allows further additions and withdrawals. Transfers in from cash ISAs are accepted on account opening only. The ISA must be opened and managed online. Ford Money pays 0.50% gross on anniversary or monthly on its Flexible Cash ISA, which requires a £1 minimum deposit to open. This ISA is restricted to existing customers only. It allows further additions and withdrawals. Transfers in are accepted. The ISA can be opened online or by phone, but can then only be managed online. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance. Newbury Building Society’s Easy Access Cash ISA pays 0.50% gross yearly. This ISA is restricted to existing members and/or those living within certain postcodes. It allows further additions and withdrawals. Transfers in are accepted. It can be opened in branch or by post and then managed online, in branch and by post. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance. Tipton & Coseley Building Society pays 0.50% gross yearly on its Branch ISA (Issue 4), which requires a £100 minimum deposit to open. This ISA allows further additions and withdrawals. Transfers in are not accepted. It can be both opened and managed in branch and by post. Virgin Money’s Easy Access Cash ISA Exclusive Issue 1 pays 0.50% gross yearly. No minimum deposit is needed to open this ISA, but it is only available to new and existing Virgin Money, Clydesdale Bank or Yorkshire Bank current account customers from 4 December 2019. Transfers in from cash ISAs are accepted. It can be opened online or in branch and then managed online, in branch, by post, by phone and via mobile app. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.

Compare the best easy access ISAs

The best notice ISA rates

Provider Account Notice Rate AER Opening restrictions
Earl Shilton Building Society 90 Day Notice Cash ISA 90 days 0.75% Existing Members and/or Locals (within certain Post code areas)
Aldermore 30 Day Notice Cash ISA Issue 10 30 days 0.55% None
Marsden Building Society Branch Cash ISA 95 (Issue 2) 95 days 0.55% None

 

Earl Shilton Building Society topped the notice ISA chart this week with an ISA that is only available to existing members and/or those living within certain postcodes. Its 90 Day Notice Cash ISA pays 0.75% gross yearly and requires a £10 minimum deposit to open. This ISA allows further additions. Withdrawals are permitted subject to 90 days’ notice or, if notice is not given, earlier access is allowed subject to 90 days’ loss of interest. Transfers in are not accepted. It can be both opened and managed in branch and by post. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.

Both Aldermore and Marsden Building Society had the second-best rate in the notice ISA chart this week. Aldermore pays 0.55% gross on anniversary or monthly on its 30 Day Notice Cash ISA Issue 10. This ISA requires a £1,000 minimum deposit to open. It allows further additions. Withdrawals are permitted subject to 30 days’ loss of interest or, if notice is not given, earlier access is allowed on 30 days’ loss of interest. Transfers in are accepted. This ISA can only be opened and managed online. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.
Marsden Building Society pays 0.55% gross yearly on its Branch Cash ISA 95 (Issue 2) on deposits of £5,000 or more. Savers should note that a higher rate of 0.65% gross is paid on deposits of £25,000 and a lower rate of 0.45% gross 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 permitted on closure only and subject to 95 days’ loss of interest. Transfers in from cash ISAs are accepted. The ISA must be opened and managed in branch.

Compare the best notice ISAs

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