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ISA round up - 5th September

UBL Bank continue to set the pace in the ISA market, occupying top spot on all fixed rates. Gatehouse Bank are leading the way on easy access with a new best buy account and notice ISAs are on the move with the top three providers all increasing rates last week.  Here's our round up of the best buys and key changes in the Individual Savings Account markets:

Easy Access ISA

Gatehouse Bank lead the way with their relaunched easy access ISA paying 1.75%.  This matches Virgin Money buth their account is only open to existing customers.  Paragon's Triple Access ISA got an uplift, with its rate being increased to 1.65% to move up to third spot.  Next comes Skipton Building Society, who are paying 1.60%, on an account that can be opened online, in their branches, by post or phone.  Coventry Building Society and Charter Savings Bank both lifted their rates to 1.55% to move up the tables. We expect to see further movement this week, in response to last week's changes.

Notice ISAs

Mansfield Building Society are the best buy Notice ISA with a rate of 1.75% for its 90 Day Notice account. Aldermore Bank increased their 30 Day Notice to 1.65% to sit second.  Furness Building Society were also on the move with their 45 Day Notice paying 1.60%, as all the top three improved rates during the week.  With six easy access ISA rates at 1.55% or above, there's little incentive to look further down the notice ISA tables.  

1 Year ISA

UBL Bank lead the way with an improved best buy rate of 2.55%, Cambridge Building Society also launched a new 1 Year paying 2.50% and lead a group of four providers at the same rate - Coventry Building Society and Gatehouse Bank remain at 2.50% but have been joined by Charter Savings Bank who upped their 1 Year also during the week.  OakNorth are next best at 2.47%, having briefly gone joint top at 2.51% earlier last week.  

2 Year ISA

UBL pay a best buy rate of 2.87% alongside Virgin Money.  Previous leader Aldermore Bank are third at 2.85% with Charter Savings Bank alongside them. Close Brothers, Secure Trust Bank and Shawbrook all sit just behind at 2.80% where they have been joined by two new entries - Saffron Building Society and Castle Trust Bank - who are the only movers in the top 10.  Given this, we expect it to be busier in the week ahead.

3 Year ISA

UBL remain top of 3 Year at 2.92%, with Aldermore Bank second at 2.90% alongside United Trust Bank (also 2.90%) and Coventry Building Society.  Castle Trust Bank are the big mover of the week, joining Close Brothers in joint 5th at 2.85%.

5 Year ISA

UBL pay 3.10% to share top spot with West Brom Building Society. United Trust Bank are third at 3% with Shawbrook and Close Brothers joint fourth at 2.95%.

Lifetime ISA

Beehive Money, part of Nottingham Building Society, are the new leader paying 1.30%.  They knock last week's leader, Newcastle Building Society (1.20%) down to joint second where they sit alongside Moneybox, who pay the same rate but theirs is courtesy of a 0.20% bonus for 12 months.  Paragon Bank and Skipton Building Society are the only other providers in the market - both pay 1%.


Picture credit: Sarah Agnew



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