The Best ISA Rates This Week 24.09.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 24/09/2020

Savers looking for an easy access ISA will be pleased to see new rates topping the chart, with two providers now offering the top rate of 1.00%. Chorley Building Society has also launched a new easy access ISA this week, which pays a highly competitive rate of 0.95%.

It should be noted that the rates below are the best rates available at 11.30 am on Thursday 24 September 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

Hodge Bank

UBL UK

5 Year Fixed Rate Cash ISA
5 Year Fixed Rate Cash ISA

Five years

Five years

1.40%

1.40%

Secure Trust Bank 3 Year Fixed Rate Cash ISA 20.10.23 1.11%
Hodge Bank 2 Year Fixed Rate Cash ISA Two years 1.05%
Chorley Building Society
Hodge Bank
1 Year Fixed Rate Cash ISA
1 Year Fixed Rate Cash ISA

30.09.21

One year

1.00%

1.00%

 

Remaining at the top of the fixed rate ISA chart this week was Hodge Bank and UBL UK. Hodge Bank pays 1.40% gross yearly on its 5 Year Fixed Rate Cash ISA, which requires a £1,000 minimum deposit to open. This ISA accepts transfers in from a minimum of £1,000. It can be opened online or by post and then managed online, by post, and by phone. There is also a version of this ISA that pays interest at a slightly lower gross rate of 1.39%. UBL UK’s 5 Year Fixed Rate Cash ISA pays 1.44% gross on maturity. There are also options of this ISA that pays 1.40% gross on anniversary, and 1.39% gross quarterly or monthly. All options require a minimum opening deposit of £2,000. Transfers in from cash ISAs are accepted. These ISAs can be opened in branch or by post and then managed by post.

The best three year fixed ISA rate this week came from Secure Trust Bank, which pays 1.11% gross yearly on its 3 Year Fixed Rate Cash ISA. To open this ISA, a £1,000 minimum deposit is needed. It accepts transfers in from cash ISAs. This ISA must be opened online but can then be managed online and by phone.

Topping the two year fixed rate ISA chart this week was Hodge Bank with its 2 Year Fixed Rate Cash ISA paying 1.05% gross yearly. A minimum deposit of £1,000 is needed to open this ISA. It accepts transfers in from a minimum of £1,000. This ISA can be opened online or by post and then managed online, by post and by phone. There is also a version of this ISA that pays interest monthly at a gross rate of 1.04%.

Both Chorley Building Society and Hodge Bank offered the top-paying one year fixed ISA rate this week. Chorley Building Society pays 1.00% gross yearly on its 1 Year Fixed Rate Cash ISA, which can be opened with a minimum deposit of just £1. This ISA accepts transfers in. It can be opened online, in branch, or by post and then managed in branch and by post. Hodge Bank pays 1.00% gross on maturity or monthly on its 1 Year Fixed Rate Cash ISA, which has a minimum opening deposit of £1,000. Transfers in from a minimum of £1,000 are accepted. It can be opened online or by post and then managed online, by post and by phone.

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
Cynergy Bank
Skipton Building Society
Online ISA (Issue 5)
eISA Saver Issue 6
None
None
1.00%
1.00%
Coventry Building Society Triple Access ISA (Online) None 0.96%
Chorley Building Society
Principality Building Society

Easy Access Cash ISA

Web ISA Issue 3

Instant

None

0.95%

0.95%

 

Both Cynergy Bank and Skipton Building Society had the top-paying easy access ISA rates this week. Cynergy Bank pays 1.00% gross yearly on its Online ISA (Issue 5). To open this ISA, a minimum deposit of £1 is needed along with a Cynergy Bank Authenticator App or Digipass. It allows unlimited further additions and withdrawals. Transfers in from cash ISAs are accepted on account opening only. This ISA must be opened and managed online. Skipton Building Society pays 1.00% gross on anniversary or monthly on its eISA Saver Issue 6, which requires a £1 minimum deposit to open. Unlimited further additions are allowed and withdrawals can be made at any time. Transfers in are accepted. It 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.

The second-best easy access ISA rate this week came from Coventry Building Society, which pays 0.96% gross on anniversary or monthly on its Triple Access ISA (Online). To open this ISA, a minimum deposit of £1 is needed. It allows unlimited further additions. Withdrawals are restricted to three penalty-free withdrawals per annum, while further withdrawals are subject to 50 days’ loss of interest. Transfers in are accepted. This ISA can only be opened and managed online. It 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 Chorley Building Society and Principality Building Society rounded off the top three easy access ISAs this week, offering highly competitive rates. Chorley Building Society pays 0.95% gross yearly on its Easy Access Cash ISA. To open this ISA, a minimum deposit of £1 is needed. It allows unlimited further additions while the issue remains open. Withdrawals are restricted to six per calendar year and the ISA reverts to a Chorley Cash ISA if more than six withdrawals are made. Transfers in are accepted. It can be opened online, in branch, or by post and then managed in branch and by post. Principality Building Society’s Web ISA Issue 3 pays 0.95% gross yearly. It requires a minimum deposit of £1 to open. Unlimited further additions are allowed. Withdrawals can be made at any time but must be via a nominated account. 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.

Compare the best easy access ISAs

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

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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