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Savers should note that the rates below are the best rates available at
15:00 on Thursday, 23 July 2020 and, although correct at the time of publishing, they may not be available after this time.
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 |
1.21% |
UBL UK |
3 Year Fixed Rate Cash ISA |
Three years |
1.10% |
Gatehouse Bank |
2 Year Fixed Term Cash ISA |
Two years |
0.95% (expected profit rate) |
Skipton Building Society |
16 Month Fixed Rate ISA Issue 126 and Online Fixed Rate ISA Issue 26 |
16 months |
0.75% |
The fixed rate ISA chart has only one change this week, with the best rate for a short-term fixed ISA account now available from Skipton Building Society. It launched two new ISAs today, both offering a rate of 0.75% AER. The only difference between these two is the method of opening and managing the ISA. The online version is only available on the society’s website, while the other is available in a branch, by post or by phone. Savers need to have at least a minimum balance of £1,000 to open these ISAs. Interest is paid on the anniversary of the account opening and this can be compounded or paid to another account. Savers must make sure they can commit their funds for the full 16 months, as access before this will incur a 150-day loss of interest penalty and account closure. Savers that need to transfer their cash or stocks & shares ISA can move their ISA savings into this account within seven days of account opening. Savers need to make sure they use the transfer-in process form from Skipton Building Society and not close their current ISA as closing their existing ISA will result in their funds losing their tax-free status. Read more in our guide to transferring ISAs.
All the rates available can be found on our fixed rate ISA chart.
Provider |
Account |
Notice |
Rate AER |
National Savings & Investments |
Direct ISA |
None |
0.90% |
AIB |
Cash ISA Account |
Instant |
0.75% |
Yorkshire Building Society |
Internet Saver ISA Plus Issue 5 |
None |
0.65% |
National Savings & Investments (NS&I) announced this week a substantial increase to its funding requirements for 2020. The Government-backed bank now needs to find £35 billion of savings compared to only £6 billion set out at the beginning of the year. Unsurprisingly then, NS&I still sits at the top of the easy access ISA table. However, ISA savers will not be able to transfer existing ISA savings into this account, so the maximum balance allowed is the current £20,000 ISA subscription limit. AIB remains in second place at 0.75% AER, however, as this ISA can only be opened in branch, this may prove inconvenient for some savers. The bank has seven branches across England and Scotland; these are located in Glasgow, London, Birmingham, Manchester, Liverpool and Newcastle. The last two are temporarily closed.
To bring ISA savers more choice this week, the chart above has been updated to exclude Cynergy Bank’s Online ISA (Issue 4) as this is only available to existing customers. The chart now includes Yorkshire Building Society as the next-best rate. Yorkshire Building Society’s Internet Saver ISA Plus Issue 5 must be opened and managed online. The interest savers can earn will increase as they hold more funds in the account:
This ISA does accept transfer-ins from many types of ISAs, such as stocks and shares ISAs and Lifetime ISAs, however, Help to Buy ISAs are not included.
Those ISA savers looking for an ISA that accepts Additional Permitted Subscriptions (APS) can find out more about how these work and those providers that usually accept ISA APS funds in our APS guide.
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.
Savers looking for the best rates will once again have to look to the fixed rate bond charts this week, although, savers considering locking into a long-term fixed rate bond should be aware that if inflation rises as expected it could see their savings erode over time
Savers looking for the best rates will once again have to look to the fixed rate bond charts this week, although, savers considering locking into a long-term fixed rate bond should be aware that if inflation rises as expected it could see their savings erode over time
This week saw the start of a new tax year, which means that savers can once again deposit up to £20,000 into an ISA tax-free for the 2021/22 tax year
This week saw the start of a new tax year, which means that savers can once again deposit up to £20,000 into an ISA tax-free for the 2021/22 tax year
With the start of the new tax year this week, savers will again have a £20,000 tax-free allowance when saving into an ISA
With the start of the new tax year this week, savers will again have a £20,000 tax-free allowance when saving into an ISA
Savers looking for the best rates will once again have to look to the fixed rate bond charts this week, although, savers considering locking into a long-term fixed rate bond should be aware that if inflation rises as expected it could see their savings erode over time
Savers looking for the best rates will once again have to look to the fixed rate bond charts this week, although, savers considering locking into a long-term fixed rate bond should be aware that if inflation rises as expected it could see their savings erode over time
This week saw the start of a new tax year, which means that savers can once again deposit up to £20,000 into an ISA tax-free for the 2021/22 tax year
This week saw the start of a new tax year, which means that savers can once again deposit up to £20,000 into an ISA tax-free for the 2021/22 tax year
With the start of the new tax year this week, savers will again have a £20,000 tax-free allowance when saving into an ISA
With the start of the new tax year this week, savers will again have a £20,000 tax-free allowance when saving into an ISA
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