The best ISA rates this week 2.4.20 | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 02/04/2020

With just days left until the new tax year, savers looking to make the most of their 2019/20 ISA limit will be pleased to see that many of last week’s top rates are still available this week. In addition, while the current economic crisis caused by the Coronavirus pandemic has meant that there has been little or no recognisable ISA season this year there are still some competitive rates available in the charts at the moment.

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 Notice Rate AER
Paragon Bank 5 Year Fixed Rate Cash ISA Five years 1.60%
Marsden Bank Fixed Rate Cash ISA (Issue 122) 30.04.23 1.55%
Charter Savings Bank 2 Year Fixed Rate Cash ISA Two years 1.46%
Virgin Money 1 Year Fixed Rate Cash E-ISA Issue 421
1 Year Fixed Rate Cash ISA Issue 442

24.04.21

15.03.21

1.36%

1.36%

Remaining at the top of the fixed rate ISA chart this week is Paragon Bank with its 5 Year Fixed Rate Cash ISA. This ISA pays 1.60% gross on anniversary and requires a minimum deposit of £500 to open. It accepts transfers in and can be opened and managed online and by post. There is also a version of this ISA that pays interest monthly at a slightly lower gross rate.

Topping the three year fixed rate ISA chart this week was Marsden Bank. Its Fixed Rate Cash ISA (Issue 122) pays 1.55% gross yearly and requires a £5,000 minimum deposit to open. This ISA accepts transfers in from cash ISAs only and deposits must be received within 30 days of account opening. It can only be opened and managed in branch.

Charter Savings Bank topped the two year fixed rate ISA chart with its 2 Year Fixed Rate Cash ISA paying 1.46% gross on anniversary. This ISA requires a minimum deposit of £5,000 to open. It accepts transfers in. It can only be opened and managed online and there is also a version available that pays interest monthly at a slightly lower gross rate.

For savers looking for a short-term fixed ISA Virgin Money topped the one year fixed ISA chart this week paying 1.36% gross yearly on its 1 Year Fixed Rate Cash E-ISA Issue 421 and 1 Year Fixed Rate Cash ISA Issue 442. Both ISAs require a minimum deposit of £1 to open. They both allow transfers in. 1 Year Fixed Rate Cash E-ISA Issue 421 can only be opened and managed online, while 1 Year Fixed Rate Cash ISA Issue 442 can be opened in branch, by post and by phone and then managed in branch and by post.

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
Bath Building Society
Coventry Building Society
Penrith Building Society
Instant ISA
Easy Access ISA (Online) (3)
ISA Issue 2
ISA Issue 3

Instant
None

Instant
Instant

1.25%
1.25%

1.25%
1.25%

Paragon Bank

Sainsbury’s Bank

Easy Access Cash ISA (Issue 7)
Cash ISA

None

None

1.21%

1.21%

Three providers offered the best easy access ISA rate this week. Bath Building Society pays 1.25% gross yearly on its Instant ISA. This ISA requires a £1 minimum deposit to open. It allows unlimited further additions and withdrawals. Cash ISA transfers in are also permitted. Due to Bath Building Society only carrying out essential transactions in branch at the moment, this ISA can only be opened and managed by post or email, however savers should be aware that this is currently a temporary measure that the building society will review in a few month's time. Coventry Building Society pays 1.25% gross on anniversary on its Easy Access ISA (Online) (3). To open this ISA a minimum deposit of £1 is needed and it allows unlimited further additions and withdrawals. Transfers in are accepted. This ISA can only be opened and managed online and there is a version that pays interest monthly at a slightly lower gross rate. Penrith Building Society pays 1.25% gross yearly on both its ISA Issue 2 and ISA Issue 3. Both these ISAs require a minimum deposit of £100 to open and they allow unlimited further additions and withdrawals. ISA Issue 2 does not accept transfers in, while ISA Issue 3 permits transfers in from cash ISAs only. Both ISAs can be opened and managed in branch and by post.

Two providers offered the second best rate in the easy access ISA chart this week. Paragon Bank pays 1.21% gross on anniversary on its Easy Access Cash ISA (Issue 7). This ISA requires a minimum deposit of just £1 to open. It allows unlimited further additions and withdrawals. Transfers in are also permitted. This ISA 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. Sainsbury’s Bank pays 1.21% gross on anniversary on its Cash ISA, although savers should be aware that 0.50% is paid on balances at £500 or less. This ISA requires a minimum opening deposit of £1. It allows unlimited further additions and withdrawals. Transfers in are accepted. It can only be opened online but can then be managed online and by phone.

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 1.40%
Paragon Bank 120 Day Notice Cash ISA – Issue 1 120 days 1.31%

Teachers Building Society remained at the top of the notice ISA chart this week with its Education ISA (Issue 1) paying 1.40% gross yearly. This ISA is only available to teachers and those within the education profession. It requires a minimum deposit of £100 to open and allows unlimited further additions. Withdrawals are allowed but are subject to 90 days’ notice. Transfers in are permitted. This ISA can be opened and managed online and by post.

The second best notice ISA rate came from Paragon Bank this week. Paragon Bank pays 1.31% gross on anniversary on its 120 Day Notice Cash ISA – Issue 1, which requires a minimum deposit of £500 to open. This ISA allows unlimited further additions. Withdrawals are permitted but subject to 120 days’ notice, if notice is not given earlier access is allowed but subject to a 120 day loss of interest penalty. Transfers in are accepted. This ISA can only be opened and managed online. There is a version of the ISA that pays interest monthly at a slightly lower gross rate.

Notice ISAs

All the rates available can be found on our notice 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.

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy