The best ISA rates this week 26.03.20 | moneyfacts.co.uk
MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Derin Clark

Derin Clark

Online Reporter
Published: 26/03/2020

Despite two consecutive base rate cuts, many of the top rates available in last week’s ISA charts are still available to savers this week. Saying this, average ISA rates have fallen since the 10 March 2020, so savers should act quickly to secure the best rates available, as there is the possibility that over the coming weeks providers will start to drop their rates.

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 Building Society Fixed Rate Cash ISA (Issue 122) 30.04.23 1.55%
Al Rayan Bank Fixed Term Deposit Cash ISA

Two years

1.50% (expected profit rate)

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%

After two consecutive base rate cuts, savers will not be surprised to see that last week’s top rate is no longer available. Instead, Paragon Bank now offers the top fixed rate ISA with its 5 Year Fixed Rate Cash ISA, paying 1.60% gross on anniversary. This ISA requires a minimum opening deposit of £500 and accepts transfers in. It can be both 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.

Marsden Building Society continued to top the three year fixed ISA chart this week, with its Fixed Rate Cash ISA (Issue 122) paying 1.55% gross yearly. To open this ISA, a minimum deposit of £5,000 is required. It accepts transfers in from cash ISAs only, which must be received within 30 days of account opening. It can only be opened and managed in branch. However, earlier access is available on closure with the loss of 360 days’ interest.

Al Rayan Bank also remained at the top of the two year fixed ISA chart this week. Its Fixed Term Deposit Cash ISA pays an expected profit rate of 1.50% gross quarterly. This ISA requires a £1,000 minimum deposit to open. It accepts transfers in for up to 30 days from account opening. The ISA can be both opened and managed online, in branch, by post, by phone and via mobile app, although savers should be aware that a token device may be needed to manage this ISA online.

Virgin Money held the top spot in the one year fixed rate chart this week, offering the best rate of 1.36% gross yearly on two accounts. Its 1 Year Fixed Rate Cash E-ISA Issue 421 requires a minimum opening deposit of just £1. It accepts transfers in and can only be opened and managed online. 1 Year Fixed Rate Cash ISA Issue 442 also requires just a £1 minimum deposit to open. Transfers in are allowed and it can be opened in branch by post or by phone. It can then be managed in branch and by post. There are versions of both these ISAs that pay interest monthly at a slightly lower gross rate.

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
Al Rayan Bank Instant Access Cash ISA Instant 1.36% (expected profit rate)
Virgin Money Double Take E-ISA Issue 14 None 1.31%
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%

Al Rayan Bank continued to offer its highly competitive easy access ISA this week, with its Instant Access Cash ISA paying an expected profit rate of 1.35% gross monthly. To open this ISA, a minimum deposit of £50 is needed. It allows unlimited further additions and withdrawals. Transfers in are also permitted. This ISA can be both opened and managed online, in branch, by post, by phone and via mobile app, although it should be noted that a token device could be needed to manage the ISA online.

Also remaining highly competitive this week was Virgin Money, which continued to offer 1.31% gross yearly on its Double Take E-ISA Issue 14. This ISA requires just a £1 minimum deposit to open and accepts unlimited further additions. Savers should be aware that withdrawals on this ISA are restricted to two per calendar year. It allows transfers in. This ISA can only be opened and managed online. There is also a version of the ISA that pays interest monthly at a slightly lower gross rate.

Three providers now offered the third-best easy access rate of 1.25%. Bath Building Society pays 1.25% gross yearly on its Instant ISA. This ISA requires a minimum deposit of £1 to open. It allows unlimited further additions and withdrawals. Transfers in are permitted from cash ISAs only. This ISA can be both opened and managed in branch and by post. Coventry Building Society pays 1.25% gross on anniversary on its Easy Access ISA (Online) (3), which also requires a minimum opening deposit of £1. This ISA accepts unlimited further additions and withdrawals can be made at any time. Transfers in are permitted. This ISA can only be opened and managed online. There is a version of this ISA that pays interest monthly at a lower gross rate. Penrith Building Society pays 1.25% gross yearly on its ISA Issue 2 and ISA Issue 3. Both these ISAs require an opening minimum deposit of £100. They allow unlimited further additions and withdrawals. ISA Issue 2 does not permit transfers in, while ISA Issue 3 allows transfers in from cash ISAs only. Both these ISAs can be both opened and managed in branch and by post.

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%
Aldermore 30 Day Notice Cash ISA Issue 7 30 days 1.30%

Remaining at the top of the notice ISA chart this week was Teachers Building Society, which pays 1.40% gross yearly on its Education ISA (Issue 1). Savers should note that this ISA is only available to teachers and other education professionals. To open this ISA, a minimum deposit of £100 is required. It allows unlimited further additions and withdrawals can be made subject to 90 days’ notice. External transfers in are permitted. This ISA can be both opened and managed online and by post.

The top rate on a notice ISA without any opening restrictions came from Paragon Bank this week. Paragon Bank pays 1.31% gross on anniversary and requires an opening minimum deposit of £500. This ISA allows further additions and withdrawals can be made subject to 120 days’ notice. If notice is not given, earlier access is permitted but subject to 120 days’ loss of interest. Transfers in are permitted. This ISA can only be opened and managed online. There is also a version that pays interest monthly at a slightly lower gross rate.

For those looking for a short-term notice ISA, Aldermore offers a competitive rate of 1.30% gross on anniversary on its 30 Day Notice Cash ISA Issue 7. To open this ISA, a minimum deposit of £1,000 is needed. It allows unlimited further additions. Withdrawals can be made subject to 30 days’ notice and, if notice is not given, then earlier access is allowed subject to 30 days’ loss of interest. This ISA accepts transfers in. It 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.

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.

isa on scrabble board and coins

Cookies

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

I accept. Read our Cookie Policy