The best cash ISA rates this week

The best easy access cash ISA rates

Top rates in the easy access ISA market prove resilient for yet another week; Trading 212 continues to pay a market-leading 5.20% AER daily on savings held in its Cash ISA. This digital account can be opened and managed either online or by mobile app with no minimum deposit required. It permits an unlimited number of penalty-free withdrawals and, what’s more, as a flexible ISA you can replace any withdrawn funds without it counting towards your annual ISA allowance. Before applying, however, be sure to check Trading 212’s partner banks to ensure your deposit will be covered by the UK depositor protection scheme.

Meanwhile, the next best rate can still be found from Plum. When taking into consideration the 0.86% bonus included for 12 months (applied on anniversary), its Plum Cash ISA pays 5.17% AER monthly. Although this app-based account can be opened with a minimum deposit starting from just £1, note a lower rate of 3.00% AER is paid any time your balance falls below £100. You’ll also receive this lower rate for making more than three withdrawals within the space of a year. While it’s possible to transfer in funds from a wide variety of ISAs to this account, keep in mind doing so will result in the removal of the bonus rate to move money across. Under these circumstances, you’d therefore receive the underlying rate of 4.29% AER.

Finally, fellow digital provider, Chip, continues to offer 5.10% AER monthly with its Chip Cash ISA (powered by ClearBank). This flexible ISA can be both opened and managed via mobile app with just a single pounded needed as a deposit. Furthermore, as of last week, it now accepts transfers in from existing cash ISAs.

The best fixed cash ISA rates

While there’s been much change to best longer-term fixed ISA rates this week, Virgin Money remains resilient at the top of our one-year chart. Its 1 Year Fixed Rate Cash ISA Exclusive Issue 13 continues to pay 5.05% AER once the account matures on 30 June 2025. New and existing Virgin Money current account customers from 4 December 2019, or existing customers who originally opened a Clydesdale Bank, Yorkshire Bank or B current account, can apply online or in branch with no minimum deposit required. The account can then additionally be managed by post, over the phone or via mobile app, with further deposits permitted so long as the issue remains open. As for earlier access, this can be gained subject to 60 days’ loss of interest.

However, if you want to secure a fixed rate for longer, you could consider accounts from UBL UK. Off the back of a recent increase, it takes the lead of our two and five-year fixed ISA charts with its 2 Year and 5 Year Fixed Rate Cash ISAs now paying 4.71% AER and 4.26% AER, respectively. A minimum deposit of £2,000 is needed to apply for either account online, in branch, by post or via mobile app. Once opened, they can then additionally be managed over the phone; both come with the choice of receiving interest monthly, on anniversary or on maturity, while the five-year term also offers the option of interest paid quarterly. Keep in mind, though, further deposits are prohibited, and earlier access is only available upon account closure, subject to a respective 180 and 365-day loss of interest penalty.

In contrast, the best returns offered by a three-year fixed ISA dipped noticeably following recent reductions in the sector. Nevertheless, three different providers now pay the current market-leading rate of 4.55% AER. Cynergy Bank’s Fixed Rate Cash ISA can be applied for online; as well as a £500 deposit, you’ll also need the Cynergy Bank Authenticator App or Digipass to access online banking. It can then additionally be managed by post or over the phone, and pays interest on anniversary. Although further deposits are accepted from a minimum of £100, it should be noted these will automatically be paid into a variable rate ISA. Meanwhile, when it comes to making withdrawals, earlier access is only permitted on account closure and is subject to 180 days’ loss of interest.

Alternatively, United Trust Bank’s Cash ISA 3 Year Bond also pays interest on anniversary but requires a larger deposit of £5,000 to open online. While it can additionally be managed by post or over the phone, further contributions to your initial investment are prohibited. Compared to its fellow market-leaders, this account imposes a more severe 320-day loss of interest penalty to obtain earlier access but offers the opportunity to withdraw any returns each year on anniversary.

If you have a more substantial lump sum of at least £10,000, you could also consider the 3 Year Fixed Rate Cash ISA from Close Brothers Savings which pays the same rate yearly. Further additions to your initial investment are allowed for 10 days after opening the account online. It can then also be managed by post or over the phone, but only allows for early access on account closure, subject to 270 days’ loss of interest.

The best notice cash ISA rates

Market-leading notice ISA rates also remain unchanged this week and, it’s important to note, are still outperformed by their easy access counterparts. For instance, the 30 Day Notice ISA (Mobile App Account) from Tipton & Coseley BS continues to top our up to 30-day notice ISA chart, paying 4.65% AER yearly. As its name suggests, this account operates solely via mobile app following an initial deposit of £1,000 – further additions to which are permitted via a nominated account. While 30 days’ notice is needed before making a withdrawal, earlier access can be gained also using a nominated account and is subject to 30 days’ loss of interest.

The best rate of any notice ISA, meanwhile, is still offered by West Brom BS; its WebSave 60 Day Notice ISA (Issue 2) pays 5.10% AER on either a monthly or yearly basis after opening with a £1 deposit. This online-only account accepts further additions without restriction. It also allows for earlier access without providing notice, subject to a 60-day loss of interest penalty.

For more information on any of the accounts mentioned, or to browse the whole of the savings and ISA markets, visit our charts.