While the best notice ISA offerings remain the same, Gatehouse Bank’s 5.15% deal has entered the charts as an attractive option for savers.
As mutuals and lenders react to the second successive month of the base rate being held, here’s a round-up of the top places for savers to store their cash, according to data from Moneyfacts.
Easy access ISAs
Mansfield Building Society boasts the best rate when it comes to easy access accounts this week.
The mutual is currently paying 5.50% AER on its Double Access Cash ISA (1st issue). The fresh offering can be opened with £1 and allows two penalty-free withdrawals to be made per year. Any more withdrawals will incur a 90-day loss of interest on the amount taken out.
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At 0.35% less is Gatehouse Bank’s Easy Access Cash ISA, which offers an expected profit rate (EPR) of 5.15% AER. The account also needs just £1 to be deposited but withdrawals are allowed, with no limits, however the account has to be opened online.
Last week’s best buy was Zopa, but is now down in third place with 5.08% AER on its Smart ISA – Access ISA pot. Like the top two accounts on the market, saving can begin with £1, but you need a Smart Saver account with the provider to open the account.
Fixed rate ISAs
Virgin Money has shot to the top of the ISA charts in the fixed rate market. The lenders’ 1 Year Fixed Rate Cash ISA Exclusive Issue 7 deal pays 5.85% AER and is available to new and existing Virgin Money current account holders from 4 December 2019 (or customers of Clydesdale Bank, Yorkshire Bank or B current account).
As was the case last week, Zopa was the cream of the crop for two-year, three-year and five-year fixed rate bonds. This is due to its Smart ISA accounts which pay 5.61% AER, 5.51% AER and 5.05% AER respectively over its two, three and five year deals.
Entering the top-ranked deals is Close Brothers Savings with its five-year fixed rate of 5.05% AER which needs to be opened online, but can then be managed by post or phone. Early access is available on the account, subject to 365 days’ loss of interest.
Notice ISAs
Another week has passed, and the notice ISA rates are topped by the usual providers – Aldermore, Stafford Railway Building Society and West Brom.
Aldermore is the best rate, thanks to its 30 Day Notice Cash ISA Issue 12, priced at 4.50% AER which is a flexible ISA that can be opened and managed online. Account holders will need a minimum of £1,000 to start saving, early access is permitted but with a penalty of 30 days’ loss of interest.
The joint-top best provider pays 5.25% on the Cash ISA 60 Day Notice Account, that requires only £100 to get started. Early access is not permitted, but further additions can occur as well as transfers from other cash ISAs are allowed.
West Brom’s WeBSave 60 Day Notice ISA offers 5.25% on a monthly or yearly basis and just £1 needs to enter the account before you start saving – less than Stafford’s deal.