The Best ISA Rates This Week 27 05 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 27/05/2021

Although new higher rates entered the five and three year fixed rate ISA chart this week, savers looking for a short-term fixed ISA or an easy access ISA will be disappointed to see that rates within these charts have not risen and, in some cases, the top rate this week is now lower than what was available the previous week. This highlights the fact that, despite some providers increasing rates, savers should act quickly to secure the best rates possible.

Savers should note that the rates below are the best rates available at 12pm on Thursday 27 May 2021 and, although correct at the time of publishing, providers may reduce or withdraw rates at any time. As well as this, the rates highlighted are only those available to new customers, and as such there may be higher rates on ISAs available to existing customers only – to compare these ISAs, visit our ISA charts and, using the refine button, filter the results to show ISAs only available to existing customers.

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.

 

Provider

Account

Notice

Rate AER

 

Shawbrook Bank

7 Year Fixed Rate Cash ISA Bond Issue 3

Seven years

1.25%

Find out more

Close Brothers Savings

5 Year Fixed Rate Cash ISA

Five years

1.11%

Find out more

Close Brothers Savings

3 Year Fixed Rate Cash ISA

Three years

0.75%

Find out more

State Bank of India

2 Year Cash ISA Fixed Deposit

Two years

0.65%

Find out more

Charter Savings Bank
Shawbrook Bank

1 Year Fixed Rate Cash ISA
 1 Year Fixed Rate Cash ISA Bond Issue 46

One year
 
 One year

0.47%
 
 0.47%

Find out more
 
Find out more

 

Shawbrook Bank continued to top the fixed rate ISA chart overall this week with its 7 Year Fixed Rate Cash ISA Bond Issue 3 paying 1.25% gross on anniversary. This ISA requires a £1,000 minimum deposit to open and allows earlier access subject to 360 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 also a version of this ISA that pays interest monthly at a slightly lower gross rate of 1.24%.

This week saw Close Brothers Savings top both the five and three year fixed rate ISA charts. Its 5 Year Fixed Rate Cash ISA pays 1.11% gross and its 3 Year Fixed Rate Cash ISA pays 0.75% gross. Both ISAs pay interest on anniversary and require a £10,000 minimum deposit to open. Earlier access is permitted with these ISAs but is subject to 270 days’ loss of interest on the three year version and 365 days’ loss of interest on the five year version. Transfers in are accepted, but transfer instructions must be received within 10 days of account opening. These ISAs must be opened online but can then be managed online, by post or over the phone.

State Bank of India remained at the top of the two year fixed ISA chart this week paying 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 State Bank of India current or savings account is needed. Earlier access is permitted on closure only and subject to 30 days’ notice. Savers should be aware that no interest is paid if the account is closed before the first anniversary and if the account is closed after the first anniversary there is a 1% loss of interest. Transfers in from cash ISAs are accepted. The ISA can be opened or managed online, in branch and by post.

Both Charter Savings Bank and Shawbrook Bank topped the one year fixed rate ISA chart this week. Charter Savings Bank pays 0.47% gross on anniversary on its 1 Year Fixed Rate Cash ISA, which requires a £5,000 minimum deposit to open. This ISA allows earlier access subject to 90 days’ loss of interest. Transfers in are accepted. It must be opened and managed online. There is a version of this ISA that pays interest monthly at the same gross rate. Shawbrook Bank’s 1 Year Fixed Rate Cash ISA Bond Issue 46 pays 0.47% gross on anniversary. To open this ISA a minimum deposit of £1,000 is needed. It allows earlier access subject to 90 days’ loss of interest and transfers in are accepted. It can only 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 the same gross rate.

Compare the best fixed rate ISAs

The best easy access ISA rates

 

Provider

Account

Notice

Rate AER

 

Cynergy Bank

Online ISA (Issue 12)

None

0.46%

Find out more

Yorkshire Building Society

Annual Access Account ISA Issue 4

Instant

0.45%

Find out more

 

Cynergy Bank remained at the top of the easy access ISA chart this week paying 0.46% gross yearly on its Online ISA (Issue 12), which requires a £1 minimum deposit to open. Savers should be aware that a Cynergy Bank Authenticator App or Digipass is needed to open this ISA. It allows further additions and withdrawals. Transfers in are only accepted on account opening and are accepted from cash ISAs only. The ISA must be opened and managed online.

The second best paying easy access ISA that is available to new customers is Yorkshire Building Society’s Annual Access Account ISA Issue 4, which pays 0.45% gross on anniversary. This ISA requires a £100 minimum deposit to open, which must be new money to the building society. It allows further additions but withdrawals are restricted to one withdrawal day per anniversary year. Transfers in are accepted. Savers should note that this ISA reverts to an Easy ISA after 12 months. It can be opened in branch or by post and then managed online, in branch and by post. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.

Compare the best easy access ISAs

The best notice ISA rates

 

Provider

Account

Notice

Rate AER

 

Aldermore

30 Day Notice Cash ISA Issue 12

30 days

0.35%

Find out more

Buckinghamshire Building Society

30 Day Cash ISA

30 days

0.30%

Find out more

 

Aldermore continued to offer the top-paying notice ISA without opening restrictions and which is available to new customers Its 30 Day Notice Cash ISA Issue 12 pays 0.35% gross on anniversary on a £1,000 minimum opening deposit. This ISA allows further additions. Withdrawals can be made subject to 30 days’ notice, or if notice is not given, earlier access is permitted on 30 days’ loss of interest. Transfers in are accepted. The ISA must be opened and managed online. There is also a version of this ISA that pays interest monthly at the same gross rate. This ISA also has the benefit of flexible ISA status, allowing money to be withdrawn and replaced in the same tax year without it counting any further towards your annual ISA allowance.

The next-best ISA rate that is available to new customers came from Buckinghamshire Building Society, which pays 0.30% gross yearly on its 30 Day Cash ISA. It requires a £100 minimum deposit to open and allows further additions. Withdrawals are permitted subject to 30 days’ notice and earlier access is allowed subject to 30 days’ loss of interest. This ISA does not accept transfers in. It can be opened and managed in branch and by post. Savers can also choose a version of this ISA that pays interest monthly at the same gross rate.

Compare the best notice ISAs

Disclaimer

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