The best ISA rates this week 27.02.20 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 27/02/2020

With ISA season nearly here, savers hoping to start seeing an increase in ISA rates will be disappointed to see that there have not been any new highly competitive rates entering the charts. Saying this, there are still some competitive rates available across all the charts, with many of last week’s top rates still available this week.

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 Term Rate AER
United Trust Bank ISA 7 Year Bond Seven years 1.85%
Principality Building Society 5 Year Fixed Rate Cash ISA Issue 218 Five years 1.70%
Barclays Bank 3-Year Flexible Cash ISA – Issue 26 Three years 1.70%
OakNorth Bank 24 Month Fixed Rate Cash ISA 24 months 1.51%
OakNorth Bank 12 Month Fixed Rate Cash ISA 12 months 1.41%

United Trust Bank remained at the top of the fixed rate ISA chart overall this week with its ISA 7 Year Bond paying 1.85% gross on anniversary. This ISA requires a substantial minimum opening deposit of £15,000 and allows transfers in. It can only be opened by post and then managed by post and by phone.

Principality Building Society was the only provider to offer the top rate in the five year fixed ISA chart this week. Its 5 Year Fixed Rate Cash ISA Issue 218 pays 1.70% gross on anniversary. It requires an opening minimum deposit of £500 and allows transfers in. This ISA can be opened online or in branch and, once opened, it can then be managed online, in branch and by post. There is also a version of this ISA that pays interest monthly at a slightly lower gross rate.

Remaining at the top of the three year fixed ISA chart this week was Barclays Bank paying 1.70% gross on maturity on its 3-Year Flexible Cash ISA – Issue 26. This ISA requires a minimum opening deposit of just £1 and accepts transfers in. Unusually for a fixed rate ISA, it allows three withdrawals of up to 10% of the balance (at the time of withdrawal) during the term, then earlier closure on 270 days’ loss of interest. It can be both opened and managed online, in branch, by phone and via its mobile app. As well as this, there is a version of this ISA that pays interest monthly at a slightly lower gross rate.

New to the top of the two year fixed ISA chart this week is OakNorth Bank, which pays 1.51% gross monthly on its 24 Month Fixed Rate Cash ISA. A minimum deposit of £1 is required to open this ISA. It permits transfers in, but initial deposits must be received within 30 calendar days or the account will be closed. It must be opened online but can then be managed online, by phone and via its mobile app.

OakNorth Bank also remained at the top of the one year fixed ISA chart. Its 12 Month Fixed Rate Cash ISA pays 1.41% gross monthly. It requires a minimum opening deposit of £1. Transfers in are permitted, but initial deposits must be received within 30 calendar days or the account will be closed. It must be opened online, but once opened can then be managed online, by phone and via its mobile app.

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%

Leeds Building Society


Yorkshire Building Society

Double Access ISA
Limited Issue Online Access ISA (Issue 17)
1 Year Limited Access Saver ISA Issue 3
Annual Access Account ISA

Instant
None

None

Instant

1.30%
1.30%

1.30%

1.30%

Al Rayan Bank remained at the top of the easy access ISA chart this week, with its Instant Access Cash ISA paying an expected profit rate of 1.35% gross monthly. This ISA requires a minimum opening deposit of £50 and allows further additions and withdrawals. Transfers in are also permitted. It can be both opened and managed in branch, by post, by phone and via its mobile app.

Virgin Money remained second in the chart this week with its Double Take E-ISA Issue 14 paying 1.31% gross yearly. This ISA requires a minimum deposit of just £1 to open and allows unlimited further additions. Withdrawals are restricted to two per calendar year. 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.

Both Leeds Building Society and Yorkshire Building Society continued to offer the third-best easy access ISA rate of 1.30% gross. Leeds Building Society pays 1.30% gross yearly on its Double Access ISA, which requires a minimum opening deposit of £5,000. This ISA allows unlimited further additions, but restricts withdrawals to two per calendar year. It then has a 30 days’ loss of interest penalty on all withdrawals. Transfers in are accepted. This ISA can only be opened in branch but can then be managed in branch and by post. Leeds Building Society also pays 1.30% gross on maturity on its Limited Issue Online Access ISA (Issue 17).

It requires a minimum opening deposit of £1,000. Further additions are allowed while the issue remains open and withdrawals are allowed. Transfers in are also permitted. Savers should be aware that this ISA matures on 3 May 2021 into an Instant Access Cash ISA maturity account. It can only be opened and managed online.

Yorkshire Building Society also pays 1.30% gross on anniversary on both its 1 Year Limited Access Saver ISA Issue 3 and its Annual Access Account ISA. Both ISAs require a minimum opening deposit of £100 and allow unlimited further additions. Withdrawals are restricted to one withdrawal day per account year. Both ISAs allow transfers in. The 1 Year Limited Access Saver ISA Issue 3 can only be opened and managed online, and it reverts to a Limited Access Saver ISA Issue 1 after 12 months. The Annual Access Account ISA can be opened in branch or by post and then managed online, in branch and by post. It reverts to an Easy ISA after 12 months.

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%

There was no change at the top of the notice ISA chart this week, with Teachers Building Society remaining at the top of the chart with its highly restricted Education ISA (Issue 1) paying 1.40% gross yearly. This ISA is only available to teachers or other education professionals. It requires a minimum opening deposit of £100 and allows unlimited further additions and withdrawals, but all withdrawals are subject to 90 days’ notice. Transfers in are also permitted. This ISA can be both opened and managed online and by post.

Paragon Bank pays the next-best rate of 1.31% gross on anniversary on its 120 Day Notice Cash ISA – Issue 1. This ISA requires an opening minimum deposit of £500 and allows unlimited further additions. Unlimited withdrawals are also allowed subject to 120 days’ notice and earlier access is allowed with 120 days’ loss of interest. Transfers in are allowed. 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.

Aldermore also continued to offer its competitive notice ISA this week, with its 30 Day Notice Cash ISA Issue 7 paying 1.30% gross on anniversary. This ISA requires a £1,000 minimum deposit to open. It allows unlimited further additions, while withdrawals are permitted subject to 30 days’ notice and earlier access is allowed with 30 days’ loss of interest. Transfers in are allowed. It can only be opened and managed online, and there is also a version 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 document

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