Best UK ISA Rates This Week (2022) | moneyfacts.co.uk

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Michael Brown

Content Writer
Published: 04/08/2022

Last updated: 3rd August 2022 at 12:00pm 

Marcus by Goldman Sachs® and Saga return to the top of the easy access charts.

The ISA market remains highly competitive right now. On some fixed rate charts a mere 0.02 percentage points separate a few providers from market-leading positions, while the easy access chart this week contains seven different providers.

To help you make more informed decisions about your ISA allowance for this year we have highlighted the top cash ISA rates on the market.

Compare the best fixed rate ISAs

Savers should be aware that the accounts highlighted below are the top-paying accounts available to new customers, and higher rates may be available to existing customers only. Savers can compare the best savings rates available to existing customers by visiting our savings charts and selecting these accounts in the refine search section.

Compare the best fixed rate ISAs on our charts.

The best easy access ISA rates

  • Account: Cash ISA

    Notice: None

    Rate: 1.50% AER (including 0.25% cash bonus)

    Transfers in from other cash ISAs: No

  • Account: Saga Cash ISA

    Notice: None

    Rate: 1.50% AER (including 0.25% cash bonus)

    Transfers in from other cash ISAs: No

  • Account: Newcastle Triple Access ISA (Issue 2)

    Notice: Instant

    Rate: 1.50% AER

    Transfers in from other cash ISAs: Yes

  • Account: Online ISA (Issue 24)

    Notice: None

    Rate: 1.40% AER

    Transfers in from other cash ISAs: Yes (only permitted on account opening)

  • Account: Easy Access Cash ISA - Issue 20

    Notice: None

    Rate: 1.40% AER

    Transfers in from other cash ISAs: Yes 

  • Account: Cash ISA (Issue 6)

    Notice: None

    Rate: 1.40% AER

    Transfers in from other cash ISAs: Yes

  • Account: Instant Access Cash ISA

    Notice: None

    Rate: 1.32% AER (including a 1.07% AER bonus for 12 months)

    Transfers in from other cash ISAs: Yes 

Previous easy access leaders Marcus by Goldman Sachs® and SAGA share top spot on the easy access chart with Newcastle BS.

Both Marcus by Goldman Sachs® and SAGA include a 0.25% gross bonus for the first 12 months in their offers. This means, based on current information, at the end of this period the rate will be reduced to 1.25% gross. Further additions and withdrawals are allowed at any time via a nominated account for either account. To open these accounts, a minimum deposit is not required.

Where these accounts differ is in the options to open and manage them. Marcus by Goldman Sachs® requires its customers to open this account online or via its app, while SAGA’s Cash ISA can only be opened online. When opening your account with Marcus by Goldman Sachs®, a UK mobile phone number is needed. For account management, Marcus by Goldman Sachs® allows its users to manage their account online, via phone or mobile app, while SAGA permits its users to manage their account online or via the telephone.

The Newcastle Triple Access ISA (Issue 2), meanwhile, pays away or compounds its interest on the anniversary of account opening on balances of £1 or more. If savers make more than three withdrawals per year their rate will halve to 0.75% gross. In addition, savers will be pleased to note that this is a flexible ISA which can be opened online or in one of its branches, which are all currently located in the North East of England. Managing this account, meanwhile, is more flexible and can be done online, in branch, via post or telephone.

Second spot this week is shared by three different providers too.

First up is Cynergy Bank’s Online ISA (Issue 24), which compounds its interest yearly, and allows withdrawals via a nominated account. To open this account, an application must be submitted online with a minimum deposit of a single pound or more, while managing the account must be done by the same means. Since this is a digital account, users will need to download the Cynergy Bank Authenticator App from the App or Google Play Store or request a Digipass to use online banking.

Next is Shawbrook Bank, which pays away or compounds interest earned monthly or on anniversary. To start earning this interest, savers require a minimum deposit of £1,000, can only access their funds via a nominated account and must withdraw a minimum of £500. Users must apply online to access this offer, but can manage their account online or via the telephone.

Then there is this week’s new entry from Teachers BS. Interest on this account is compounded yearly on balances of £100 or more and these funds can then be accessed via a nominated account.  Opening this account can be done online or via the post, while managing it can be done online or via the telephone. It is worth noting that while general consumers can access a rate of 1.40% gross, educational professionals can access a better rate of 1.45% gross with this provider’s Teachers for Teachers Easy Access ISA (Issue 1) account. More information on how this specific account operates can be found on our tables.

Tesco Bank completes this week’s chart with its Instant Access Cash ISA. Crucially, this account comes with a 1.11% gross bonus for 12 months which means, based on current information, when this period expires the interest will revert to the underlying rate of 0.25% gross. Still, interest is compounded on the anniversary of account opening for this flexible ISA, and earned on balances of £1 or more. For withdrawals, online transfers are capped at a maximum of £10,000 to non-Tesco Bank accounts and £100,000 to Tesco Bank accounts. In order to open this account, applications must be made online or via the phone. Managing this account, meanwhile, can be done via the same means or Tesco Bank’s mobile app.

Compare the best easy access ISAs

The best fixed rate ISA savings rates

  • Account: 5 Year Fixed Rate Cash ISA

    Notice: Five year bond

    Rate: 2.80% AER 

    Transfers in from other cash ISAs: Yes

  • Account: 5 Year Fixed Term Woodland Cash ISA

    Notice: Five year bond

    Rate: 2.80% AER (Expected profit rate)

    Transfers in from other cash ISAs: Yes

  • Account: 5 Year Fixed Rate Cash ISA Bond Issue 35

    Notice: Five year bond

    Rate: 2.80% AER

    Transfers in from other cash ISAs: Yes

  • Account: 3 Year Fixed Rate Cash ISA Bond Issue 42

    Notice: Three year bond

    Rate: 2.80% AER

    Transfers in from other cash ISAs: Yes

  • Account: 2 Year Fixed Rate Cash ISA

    Notice: Two year bond

    Rate: 2.65% AER

    Transfers in from other cash ISAs: Yes

  • Account: 2 Year Fixed Rate Cash ISA Bond Issue 62

    Notice: Three year bond

    Rate: 2.65% AER

    Transfers in from other cash ISAs: Yes

  • Account: 1 Year Fixed Rate Cash E-ISA Issue 506

    Notice: 24 August 2023

    Rate: 2.27% AER

    Transfers in from other cash ISAs: Yes

This week’s fixed rate table remains highly competitive, with many top rates on our charts shared by different providers.

The first provider to note is Close Brothers Savings, which offers a market-leading rate on the five and two year fixed charts. Both accounts compound their interest on the anniversary of account opening for balances of £10,000 or more. In addition, further additions are welcome for 10 days from account opening,. Early access to funds, meanwhile, is also permitted but will result in account closure and a loss of interest penalty. The five year option will receive a 365-day loss of interest while the two year option will receive a 150-day loss of interest. Both accounts must be opened online, but can be managed online, via the post or telephone.

Also on the five year chart is Islamic provider Gatehouse Bank. Expected profit can be compounded or paid away monthly or on the anniversary of when the account is funded for balances of £1,000 or more. Unlike Close Brothers Savings, Gatehouse Bank does not allow further additions on this account. Early access, however, is permitted subject to a 365-day loss of expected profit. To open this account, savers must apply online, while managing it must be done online or via Gatehouse Bank’s mobile app.

Shawbrook Bank, meanwhile, offers market-leading rates on its five, three and two year fixed options. Its selection of accounts pays away or compounds its interest monthly or on the anniversary of account opening, requiring a minimum opening balance of £1,000. Further additions for this account are also permitted while the issue remains open, meaning it could be a great option for some savers who wish to top the account with next year’s ISA allowance.  The five, three and two year options permit early access subject to a loss of interest penalty. The five year account will enforce a 360-day loss of interest penalty, the three year account is subject to a loss of 270 days, while the two year account will halve the penalty on the five year to a 180-day loss of interest penalty. All accounts must be opened online, while managing them must be done online or via the telephone.

Finally, Virgin Money’s 1 Year Fixed Rate Cash E-ISA Issue 506 tops the one year rate. The offer compounds or pays away interest earned yearly or monthly on balances of a single pound or more. Further additions are allowed for 30 days from account opening, while earlier access is permitted on a 60-day loss of interest. This is purely an internet-based account, meaning it must be opened and managed online.

Saving with Teachers helps teachers buy homes

Teachers Building Society was founded in 1966 to help teachers get on to the property ladder, an aim that still drives us today. Whether you work in education or not, saving with us or borrowing from us supports teachers with smaller deposits buy their very first homes.

  • Competitive rates: Teachers Building Society Fixed Rate Cash ISA accounts offer some great rates, with the security of protection from the FSCS deposit scheme.
  • Feel good factor: Saving with Teachers helps teachers buy homes - when you choose to save with us you are directly helping us lend to more teachers so they can buy their first homes.
  • Easy to open and manage: Apply online or request an application pack. Transfers in accepted. Can be managed online or over the phone.

 

Saving with Teachers helps teachers buy homes

Teachers Building Society was founded in 1966 to help teachers get on to the property ladder, an aim that still drives us today. Whether you work in education or not, saving with us or borrowing from us supports teachers with smaller deposits buy their very first homes.

  • Competitive rates: Teachers Building Society Fixed Rate Cash ISA accounts offer some great rates, with the security of protection from the FSCS deposit scheme.
  • Feel good factor: Saving with Teachers helps teachers buy homes - when you choose to save with us you are directly helping us lend to more teachers so they can buy their first homes.
  • Easy to open and manage: Apply online or request an application pack. Transfers in accepted. Can be managed online or over the phone.

 

Saving with Teachers helps teachers buy homes

Teachers Building Society was founded in 1966 to help teachers get on to the property ladder, an aim that still drives us today. Whether you work in education or not, saving with us or borrowing from us supports teachers with smaller deposits buy their very first homes.

  • Competitive rates: Teachers Building Society Fixed Rate Cash ISA accounts offer some great rates, with the security of protection from the FSCS deposit scheme.
  • Feel good factor: Saving with Teachers helps teachers buy homes - when you choose to save with us you are directly helping us lend to more teachers so they can buy their first homes.
  • Easy to open and manage: Apply online or request an application pack. Transfers in accepted. Can be managed online or over the phone.

 

Saving with Teachers helps teachers buy homes

Teachers Building Society was founded in 1966 to help teachers get on to the property ladder, an aim that still drives us today. Whether you work in education or not, saving with us or borrowing from us supports teachers with smaller deposits buy their very first homes.

  • Competitive rates: Teachers Building Society Fixed Rate Cash ISA accounts offer some great rates, with the security of protection from the FSCS deposit scheme.
  • Feel good factor: Saving with Teachers helps teachers buy homes - when you choose to save with us you are directly helping us lend to more teachers so they can buy their first homes.
  • Easy to open and manage: Apply online or request an application pack. Transfers in accepted. Can be managed online or over the phone.

 

Saving with Teachers helps teachers buy homes

Teachers Building Society was founded in 1966 to help teachers get on to the property ladder, an aim that still drives us today. Whether you work in education or not, saving with us or borrowing from us supports teachers with smaller deposits buy their very first homes.

  • Competitive rates: Teachers Building Society Fixed Rate Cash ISA accounts offer some great rates, with the security of protection from the FSCS deposit scheme.
  • Feel good factor: Saving with Teachers helps teachers buy homes - when you choose to save with us you are directly helping us lend to more teachers so they can buy their first homes.
  • Easy to open and manage: Apply online or request an application pack. Transfers in accepted. Can be managed online or over the phone.

 

Saving with Teachers helps teachers buy homes

Teachers Building Society was founded in 1966 to help teachers get on to the property ladder, an aim that still drives us today. Whether you work in education or not, saving with us or borrowing from us supports teachers with smaller deposits buy their very first homes.

  • Competitive rates: Teachers Building Society Fixed Rate Cash ISA accounts offer some great rates, with the security of protection from the FSCS deposit scheme.
  • Feel good factor: Saving with Teachers helps teachers buy homes - when you choose to save with us you are directly helping us lend to more teachers so they can buy their first homes.
  • Easy to open and manage: Apply online or request an application pack. Transfers in accepted. Can be managed online or over the phone.

 

The best notice ISA rates

  • Account: 30 Day Notice Cash ISA Issue 12

    Notice: 30 days

    Rate: 1.40% AER

    Transfer in from other cash ISAs: Yes

  • Account: Cash ISA Notice 90 (Issue 10)

    Notice: 90 days

    Rate: 1.45% AER

    Transfer in from other cash ISAs: Yes

Aldermore continues to offer the best rate for accounts requiring a notice period of 60 days or under. Interest is earned according to the user’s discretion, either monthly or on the anniversary of account opening, and can be compounded or paid away. There is a £1,000 minimum deposit to open, and further additions are allowed at any time. Withdrawals are allowed subject to a 30-day notice period being served, and earlier access will be subject to 30 days’ loss of interest. This flexible ISA must be opened and managed online.

Teachers BS makes the roundup this week with its Cash ISA Notice 90 (Issue 10). The account pays away or compounds its interest every year on balances of £100 or more. Further additions are allowed, while withdrawals must be made in accordance with its 90 day notice policy. In addition, withdrawals must be via the Faster Payments Service via a nominated account. This ISA must either be opened online or via the post, while managing this account must be done online or via the telephone. It is worth noting that educational professionals can access a slightly better rate of 1.50% through the Education ISA (Issue 2). For more information on this specific ISA, visit our table.

Compare the best notice ISAs

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. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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