While ISA rates continue to fall, there are still some attractive rates in the fixed rate ISA charts this week. Once again, a two year fixed rate ISA offered the best rate overall at 1.40% gross, which is good news for savers who do not want to lock their money into a long-term ISA. In the easy access ISA chart, only two providers now offer rates at 1.00% or over and only one of these accounts does not have any opening restrictions.
It should be noted that the rates below are the best rates available at 5pm on Thursday and, although correct at the time of publishing, they may not be available on Friday.
United Trust Bank
|7 Year Fixed Rate Cash ISA Bond Issue 3
ISA 7 Year Bond
|UBL UK||5 Year Fixed Rate Cash ISA||Five years||1.21%|
|UBL UK||3 Year Fixed Rate Cash ISA||Three years||1.10%|
|Al Rayan Bank||Fixed Term Deposit Cash ISA||24 months||1.41% (expected profit rate)|
|Al Rayan Bank||Fixed Term Deposit Cash ISA||12 months||1.21% (expected profit rate)|
Once again, this week a two year fixed rate ISA topped the chart overall, with Al Rayan Bank paying an expected profit rate of 1.40% gross quarterly on its Fixed Term Deposit Cash ISA. As well as this, Al Rayan Bank also continued to offer a highly competitive one year fixed rate ISA, with the 12-month version of its Fixed Term Deposit Cash ISA paying an expected profit rate of 1.20% gross quarterly. Both these ISAs require a minimum deposit of £1,000 to open. They accept transfers in for up to 30 days from account opening. These ISAs can be both opened and managed online, in branch, by post, by phone and via mobile app.
Two providers were offering the top rate of 1.25% gross on a seven year fixed ISA this week. Shawbrook Bank pays 1.25% gross on anniversary on its 7 Year Fixed Rate Cash ISA Bond Issue 3. A £1,000 minimum deposit is needed to open this ISA. It accepts transfers in. This ISA must be opened online but can then be managed online and by phone. There is also a version of this ISA that pays interest monthly at a slightly lower gross rate. United Trust Bank pays 1.25% gross on anniversary on its ISA 7 Year Bond. This ISA requires a minimum opening deposit of £15,000. It accepts transfers in. This ISA can only be opened by post and can then be managed by post and by phone.
The top-paying five and three year fixed rate ISAs came from UBL UK this week. It pays 1.24% gross on maturity on its 5 Year Fixed Rate Cash ISA and 1.11% gross on maturity on its 3 Year Fixed Rate Cash ISA. Both ISAs require a minimum deposit of £2,000 to open. Transfers in from cash ISAs are accepted. These ISAs can be opened in branch or by post but must be managed by post. There are also versions of both ISAs that pay interest on anniversary, quarterly and monthly at lower gross rates.
|Cynergy Bank||Online ISA (Issue 3)||None||1.02%|
|Al Rayan Bank||Instant Access Cash ISA||Instant||1.00% (expected profit rate)|
|National Savings & Investments||Direct ISA||None||0.90%|
Al Rayan Bank reduced its easy access ISA rate this week, resulting in Cynergy Bank topping the chart with its Online ISA (Issue 3) paying 1.02% gross yearly. This ISA is only available to existing customers and requires a minimum deposit of £1 to open. In addition to this, a Cynergy Bank Authenticator App or Digipass is required to open and manage this ISA. It allows unlimited further additions and withdrawals. Transfers in from cash ISAs are accepted. It can only be opened and managed online.
Despite reducing its rates, Al Rayan Bank still offers the top rate on an easy access ISA without opening restrictions. Its Instant Access Cash ISA pays an expected profit rate of 1.00% gross monthly on a £50 opening minimum deposit. It allows unlimited further additions and withdrawals. Transfers in are accepted. This ISA can be both opened and managed online, in branch, by post, by phone and via mobile app.
The third-best easy access ISA rate came from National Savings & Investments (NS&I), with its Direct ISA paying 0.90% gross yearly. To open this ISA, a minimum deposit of £1 is needed and it allows unlimited further additions. Withdrawals are permitted but must be made via a nominated account. Transfers in are not accepted. This ISA is 100% backed by HM Treasury. It can be both opened and managed online and by phone.
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.