The best cash ISA rates this week

The best easy access cash ISA rates

The top three easy access ISA rates remained the same this week, with Trading 212 continuing to offer the leading rate of 5.10% AER. Paying interest daily, its Cash ISA is available to open and manage online and via mobile app. There’s no minimum deposit required and, because it’s a flexible ISA, savers can withdraw money and deposit it back into their account without worrying about affecting their ISA allowance. Before opening this ISA, it’s worth checking the provider’s partner banks to ensure your deposits will be covered under the UK depositor protection scheme.

With its Plum Cash ISA paying 4.92% AER monthly, Plum continues to offer the second-best easy access ISA rate. However, savers should bear in mind that this rate includes a 0.86% bonus for the first 12 months and anyone transferring in from another ISA won’t be eligible to receive this bonus rate. Furthermore, while it’s possible to open the account with just £1, savers need to deposit at least £100 and not make more than three withdrawals from their account per year to qualify for the 4.92% AER headline rate. This ISA is only available via the Plum mobile app.

Paragon Bank’s Double Access Cash ISA - Issue 6 remains in third position on our easy access ISA chart. Paying 4.87% AER monthly or on anniversary, this ISA requires a £1,000 minimum deposit and allows further additions from a nominated account without restriction. However, although this ISA follows flexible rules, savers should note that a lower rate of 1.50% AER applies if they make more than two withdrawals within a 12-month period.

The best fixed cash ISA rates

The 1 Year Fixed Rate Cash ISA Exclusive Issue 16 from Virgin Money continues to pay the market-leading one-year ISA rate of 4.61% AER. It pays interest when the account matures on 30 September 2025. However, this ISA is only available to 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. Eligible savers can open this ISA online or by visiting a branch, and can additionally manage it via post, phone or mobile app once open. The provider doesn’t specify a minimum deposit, and savers have the option to add to their account while the issue remains open. Earlier access to funds is only allowed subject to a 60-day loss of interest.

For savers looking to fix for longer, State Bank of India offers the market-leading rates on two- and five-year ISAs. Its 2 Year Cash ISA Fixed Deposit pays 4.50% AER on maturity on a minimum deposit of £1,000, while its 5 Year Cash ISA Fixed Deposit pays a lower 4.15% AER on maturity on a minimum deposit of £5,000. Savers can open both accounts in branch or via post, with the further option to manage them online once open. Bear in mind you need to open a new current or savings account with the provider to be eligible for these fixed ISAs. Neither ISA permits further contributions after opening and, to access their money before the end of the term, savers will need to give 30 days’ notice and close the account. No interest will be paid if they close their account before the first anniversary and, if they close after this point, a 1% loss of interest will apply.

Meanwhile, UBL UK continues to pay the top three-year fixed ISA rate of 4.31% AER. Its 3 Year Fixed Rate Cash ISA can pay this rate monthly, quarterly, on anniversary or on maturity on a minimum deposit of £2,000. Savers can’t add to their account after their initial deposit and access to funds before the end of the term is only permitted on account closure, subject to a 270-day loss of interest. This account can be opened online, in branch, by post or via mobile app, with the additional option to manage it by phone once open.

The best notice cash ISA rates

The leading 30-day notice ISA continues to come from Tipton & Coseley BS. Its app-only 30 Day Notice ISA (Mobile App Account) pays 4.55% AER yearly on a minimum deposit of £1,000. Savers can add to their savings via a nominated account without restriction and, if they want to access their money without waiting for the 30-day notice period, this is allowed, subject to a 30-day loss of interest. Note that withdrawals must be made via a nominated account and need to be a minimum of £500.

Savers can access a higher rate from West Brom BS, with its online-only 60 Day Notice ISA (Issue 1) paying 4.85% AER monthly or yearly. It requires a minimum opening deposit of just £1 and allows savers to add to their account without restriction. If they don’t want to wait the full 60-day notice period to access their money, savers can access it sooner, subject to a 60-day loss of interest.

Bear in mind that the leading easy access ISAs continue to pay higher rates than the leading notice ISAs.