The Best ISA Rates This Week 28.01.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 28/01/2021

Once again, savers looking to get the best ISA rates will have to choose a challenger bank, with fixed rate ISAs offering the best rates overall. In addition to this, many of the top easy access and notice ISA rates are only available on accounts with restrictive opening conditions. As many of these ISAs are not available to savers, below we have only highlighted the ISAs that are not restricted to existing customers or certain areas.

Savers should also note that the rates below are the best rates available at 1pm on Thursday 28 January 2021 and, although correct at the time of publishing, they may not be available after this time.

The best fixed rate ISA savings rates

Provider Account Term Rate AER
Gatehouse Bank 5 Year Fixed Term Cash ISA Five years 1.30% (expected profit rate)
Gatehouse Bank 3 Year Fixed Term Cash ISA Three years 0.90% (expected profit rate)
Gatehouse Bank 2 Year Fixed Term Cash ISA Two years 0.80% (expected profit rate)
Al Rayan Bank Fixed Term Deposit Cash ISA 12 months 0.65% (expected profit rate)

 

Gatehouse Bank continued to dominate the fixed rate ISA chart this week, offering the best rate overall as well as the top three year rate and top two year rate. Its 5 Year Fixed Term Cash ISA pays an expected profit rate of 1.30% gross on anniversary. Meanwhile, its 3 Year Fixed Term Cash ISA pays an expected profit rate 0.90% gross on anniversary and its 2 Year Fixed Term Cash ISA pays an expected profit rate of 0.80% gross on anniversary. All these ISAs require a minimum opening deposit of £1,000. Transfers in are accepted. These ISAs can only be opened and managed online.

The top one year fixed ISA rate this week came from Al Rayan Bank, which pays an expected profit rate of 0.65% gross quarterly on its Fixed Term Deposit Cash ISA. A £1,000 minimum deposit is needed to open this ISA, which accepts transfers in for up to 30 days from account opening. The ISA can be opened online, in branch, by phone or via mobile app, and can then be managed online, in branch, by post, by phone and via mobile app.

Compare the best fixed rate ISAs

The best easy access ISA rates

Provider Account Notice Rate AER
Al Rayan Bank Instant Access Cash ISA (Issue 2) Instant 0.60% (expected profit rate)
Cynergy Bank Online ISA (Issue 8) None 0.55%
Tipton & Coseley Building Society Branch ISA (Issue 4) Instant 0.50%

 

Topping the easy access chart this week was Al Rayan Bank, paying an expected profit rate of 0.60% on its Instant Access Cash ISA (Issue 2). This ISA requires a £50 minimum deposit to open. It allows further additions and withdrawals. Transfers in are accepted. The ISA can be both opened and managed online, in branch, by post, by phone and via mobile app.

The next-best easy access ISA rate came from Cynergy Bank this week. Its Online ISA (Issue 8) pays 0.55% gross yearly on a £1 minimum opening deposit. This ISA allows further additions and withdrawals. Transfers in are accepted on account opening only. The ISA must be opened and managed online and a Cynergy Bank Authenticator App or Digipass is required to open and operate the account.

Tipton & Coseley Building Society had the third-best easy access ISA rate this week paying 0.50% gross yearly on its Branch ISA (Issue 4), which requires a £100 minimum deposit to open. This ISA allows further additions and withdrawals but transfers in are not accepted. It can be both opened and managed in branch and by post.

Compare the best easy access ISAs

The best notice ISA rates

Provider Account Notice Rate AER
Aldermore 30 Day Notice Cash ISA Issue 10 30 days 0.55%
Marsden Building Society Branch Cash ISA 95 (Issue 2) 95 days 0.55%
Kent Reliance Cash ISA – 60 Day Notice – Issue 25 60 days 0.35%

 

Two ISAs offered the top-paying notice ISA rate this week. Aldermore pays 0.55% gross on anniversary or monthly on its 30 Day Notice Cash ISA Issue 10. This ISA requires a £1,000 minimum deposit to open. It allows further additions. Withdrawals are permitted subject to 30 days’ notice, or if notice is not given, earlier access can be made subject to 30 days’ loss of interest. Transfers in are accepted. It must be opened and managed online.

Marsden Building Society pays 0.55% yearly on deposits of £5,000, a higher rate of 0.65% is paid on deposits at £25,000 and a lower rate of 0.45% is paid on deposits at £1,000. This ISA allows further additions and withdrawals can be made subject to 95 days’ notice. If notice is not given, earlier access is permitted on closure only on 95 days’ loss of interest. Transfers in from cash ISAs are accepted. It can be opened and managed in branch.

The next best notice ISA rate comes from Kent Reliance, which pays 0.35% gross yearly or monthly on a £1,000 minimum opening deposit. Further additions are allowed. Withdrawals can be made subject to 60 days’ notice, and if notice is not given, earlier access is permitted on 60 days’ loss of interest – savers should be aware that the withdrawal method is dependent on how the account is opened. It accepts transfers in, but transfer requests must be made within 30 days of account opening. This account can be opened online, in branch or by post and then managed online, in branch, by post and by phone.

Compare the best notice ISAs

Disclaimer

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