The Best ISA Rates This Week 25.03.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 25/03/2021

With just weeks until the new tax year, ISA savers wanting to make the most of their 2020/21 £20,000 tax-free allowance need to act quickly. For those considering transferring funds between ISAs, we’ve looked at how to transfer cash ISAs to maximise returns, which you can read here . For those looking to open a new ISA before the tax year ends, below we’ve highlighted the top rates available in the charts this week.

Savers should also note that the rates below are the best rates available at 12pm on Thursday 25 March 2021 and, although correct at the time of publishing, they may not be available after this time.

An alternative to a cash ISA could be a stocks and shares ISA, which offers the same tax-free allowance, although savers should be aware these are a much riskier option and are normally only suited to long-term investors. More information about this type of investment can be found on our stocks and shares ISA page.

The best fixed rate ISA savings rates

Provider Account Notice Rate AER
Shawbrook Bank 7 Year Fixed Rate Cash ISA Bond Issue 3 Seven years 1.25%
Shawbrook Bank 5 Year Fixed Rate Cash ISA Bond Issue 25 Five years 1.10%

Charter Savings Bank

Shawbrook Bank

3 Year Fixed Rate Cash ISA
3 Year Fixed Rate Cash ISA Bond Issue 24

Three years

Three years

0.75%

0.75%

State Bank of India 2 Year Cash ISA Fixed Deposit Two years 0.65%
Monmouthshire Building Society 1 Year Fixed Rate Cash ISA - Issue 13 One year 0.49%

 

Shawbrook Bank had the highest paying fixed ISA rate this week with its 7 Year Fixed Rate Cash ISA bond Issue 3 paying 1.25% gross on anniversary. Shawbrook Bank also topped the five year fixed rate ISA chart this week with its 5 Year Fixed Rate Cash ISA Bond Issue 25 paying 1.10% gross on anniversary. Both ISAs require a £1,000 minimum deposit to open. Earlier access is allowed subject to 360 days’ loss of interest. Transfers in are accepted. These ISAs must be opened online but can then be managed online and by phone. There are versions of these ISAs that pay interest monthly at a slightly lower gross rate of 1.24% on the seven year version and 1.09% on the five year version.

Both Charter Savings Bank and Shawbrook Bank had the top paying three year fixed ISA rates this week. Charter Savings Bank pays 0.75% gross on anniversary on its 3 Year Fixed Rate Cash ISA. To open this ISA a £5,000 minimum deposit is needed. Earlier access is permitted subject to 210 days’ loss of interest. The ISA accepts transfers in. It can only be opened and managed online. There is an option of this ISA that pays interest monthly at the same gross rate. Shawbrook Bank’s 3 Year Fixed Rate Cash ISA Bond Issue 24 pays 0.75% gross on anniversary. This ISA requires a £1,000 minimum deposit to open. Earlier access is permitted subject to 270 days’ loss of interest. Transfers in are accepted. The ISA must be opened online but can then be managed online and by phone. There is a version of this ISA that pays interest monthly at the same gross rate.

The top two year fixed rate ISA this week came from State Bank of India which pays 0.65% gross on maturity on its 2 Year Cash ISA Fixed Deposit. This ISA requires a £5,000 minimum deposit to open and a new current or savings account is needed. It allows earlier access on closure only on 30 days’ notice, savers should be aware that no interest is paid if the account is closed before the first anniversary and there is a 1% loss of interest if it is closed after the first anniversary. Transfers in from cash ISAs are accepted. This ISA can be opened and managed online, in branch, and by post.

Topping the one year fixed rate ISA chart this week was Monmouthshire Building Society which pays 0.49% gross on maturity on its 1 Year Fixed Rate Cash ISA – Issue 13. This ISA requires a £3,000 minimum opening deposit. Earlier access is permitted on closure only and is subject to 90 days’ loss of interest. The ISA accepts transfers in from cash ISAs. It must be opened in branch but can be managed online, in branch and by post. This ISA can only be opened by those living in England and Wales.

Compare the best fixed rate ISAs

The best easy access ISA rates

Provider Account Notice Rate AER
Yorkshire Building Society Annual Access Account ISA Issue 4 Instant 0.45%
Paragon Bank Triple Access ISA (Issue 3) None 0.40%
Charter Savings Bank Easy Access Cash ISA - Issue 20 None 0.40%
Leeds Building Society Defined Access ISA Instant 0.40%
Marsden Building Society Branch Cash ISA (Issue 5) Instant 0.40%
Nationwide Building Society 1 Year Triple Access Online ISA 10 None 0.40%
Stafford Railway Building Society Cash ISA Account Instant 0.40%
Yorkshire Building Society Six Access e-Saver ISA Issue 5 None 0.40%

 

New to the top of the easy access ISA chart this week is Yorkshire Building Society with its Annual Access Account ISA Issue 4 paying 0.45% gross on anniversary. This ISA requires a £100 minimum deposit to open and the money must be new to the building society. Further additions are allowed. Withdrawals are restricted to one withdrawal day per account year. The ISA accepts transfers in. It can be opened and managed in branch and by post. Savers should be aware that after 12 months this ISA reverts to an Easy ISA.

Seven ISAs without opening restrictions had the next best easy access ISA rate this week. Paragon Bank pays 0.40% gross on anniversary on its Triple Access ISA (Issue 3), which requires a £1 minimum deposit to open. This ISA allows further additions via a nominated account. Withdrawals can be made but a lower rate of 0.25% is paid if more than three withdrawals are made in a 12 month period. Transfers in are accepted. The ISA must be opened and managed online. There is a version of this ISA that pays interest monthly at the same gross rate.

Also paying 0.40% gross on anniversary is Charter Savings Bank’s Easy Access Cash ISA – Issue 20. This ISA requires a £5,000 minimum deposit to open. Further additions are allowed and withdrawals can be made at any time, but all transactions must be made via a nominated account. Transfers in are accepted. This ISA can only be opened and managed online. There is also a version of this ISA that pays interest monthly at the same gross rate.

Leeds Building Society pays 0.40% gross yearly on its Defined Access ISA, which requires a £5,000 minimum deposit to open. Further additions are permitted while the issue remains open. Withdrawals are restricted to four withdrawals per calendar year, then 30 days’ loss of interest on all withdrawals thereafter. Transfers in are accepted. This ISA can be opened and managed in branch and by post.

Marsden Building Society’s Branch Cash ISA (Issue 5) pays 0.40% gross yearly on a £25 minimum opening deposit. This ISA allows further additions and withdrawals can be made at any time. Transfers in from cash ISAs are permitted. The ISA can only be opened and managed in branch.

On a £1 opening minimum deposit, Nationwide Building Society’s 1 Year Triple Access Online ISA 10 pays 0.40% gross on anniversary. Savers should be aware that this ISA reverts to a Triple Access Online ISA after 12 months. It permits further additions. Withdrawals are allowed but a lower rate of 0.01% is paid for the remainder of the term if more than three withdrawals are made per annum. Transfers in are accepted. The ISA can be opened and managed online and via mobile app.

Stafford Railway Building Society pays 0.40% gross yearly on its Cash ISA Account, which requires a £1 minimum deposit to open. This ISA allows further additions and withdrawals can be made at any time. Transfers in from cash ISAs are accepted. It can be opened and managed in branch and by post.

Yorkshire Building Society’s Six Access e-Saver ISA Issue 5 pays 0.40% gross yearly on deposits of £10,000. A higher rate of 0.45% is paid on deposits of £50,000, while a lower rate of 0.25% is paid on deposits of £1,000 and 0.15% is paid on deposits of £1. This ISA allows further additions. Withdrawals are restricted to six withdrawal days per anniversary year. Transfers in are accepted. This ISA can only be opened and managed online.

Also paying 0.40% gross this week was Progressive Building Society’s Cash ISA Saver, Tipton & Coseley Building Society’s Branch ISA (Issue 5), and Vernon Building Society’s Easy Access Cash ISA. All these ISAs have opening restrictions, but savers interested in these ISAs can find out more information on our easy access ISA chart.

Compare the best easy access ISAs

The best notice ISA rates

Provider Account Notice Rate AER
Marsden Building Society Branch Cash ISA 95 (Issue 2) 95 days 0.55%
Buckingham Building Society 30 Day Cash ISA 30 days 0.30%

 

Remaining at the top of the notice ISA chart this week was Marsden Building Society with its Branch Cash ISA 95 (Issue 2), which pays 0.55% gross yearly on deposits of £5,000. A higher rate of 0.65% is paid on deposits of £25,000, and a lower rate of 0.45% is paid on deposits at £1,000. Further additions are allowed. Withdrawals are permitted subject to 95 days’ notice, alternatively, earlier access is allowed on closure only on 95 days’ loss of interest. Transfers in from cash ISAs are accepted. This ISA must be opened and managed in branch.

Tipton & Coseley Building Society had the next best notice ISA rate of 0.45% gross yearly, but this ISA is restricted to those living within certain postcodes. Savers interested in this ISA can find out more information on our notice ISA chart.

Buckingham Building Society pays 0.30% gross yearly on its 30 Day Cash ISA. This ISA requires a £100 minimum deposit to open and allows further additions. Withdrawals can be made subject to 30 days’ notice, or if notice is not given, earlier access is permitted subject to 30 days’ loss of interest. Transfers in are not accepted. This ISA can be opened and managed in branch or by post. There is a version of this ISA that pays interest monthly at the same gross rate.

Compare the best notice ISAs

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