ISA round up - 28th November

There was some good news for ISA savers with a new best buy 1 Year Fixed with a rate increase, but otherwise it was a tale of further cuts.  Although State Bank of India continues to lead the way on longer term fixed rates, the gulf between them and the next best rates continues to widen.  On easy access, there's a big drop from Virgin at 3% to the cluster of providers at 2.50% in second spot.  There's little to suggest there will be any improvements this week and we fear the end may be nearing for the State Bank of India rates. Here's our round up of the best buys and key changes in the Individual Savings Account markets:

Easy Access ISA

Virgin Money still lead the way at 3%. Although this account is only available to Virgin Money current account holders, it is possible to switch or open a new current account with them to get this rate.  Given that it beats all easy access rates, even on taxable accounts, that may be worth doing for many savers - particularly those with larger balances.  

With tiny Ecology Building Society being overun with applications and pulling out, there's a big drop to second with Scottish Building Society paying 2.50% with no restrictions.  Principality Building Society pay the same rate although their rate includes a 0.40% bonus for 12 months.  Nationwide also pay 2.50% on their Triple Access ISA.  Kent Reliance were the main movers last week, upping their rate to 2.43%.

Notice ISAs

Aldermore remain top paying 2.80% on 30 Days' Notice.  Mansfield Building Society are second although savers need to give a huge 180 Days' Notice in return for the 2.50% payable.  Teachers Building Society are next bizarrely at 2.15% on 90 Days (2.20% for education professionals), which is lower than their easy access rates.

1 Year ISA

In a rare glimmer of good news, we have a new best buy on 1 Year with an increased rate - UBL lead the way paying a best buy 3.81%.  Charter Savings Bank remain second paying 3.76% ahead of Gatehouse Bank at 3.70%.  Next comes OakNorth Bank at 3.68% before a four way tie - Aldermore Bank, Shawbrook, Secure Trust and Coventry Building Society all paying 3.65%.  It's worth noting that Cumberland Building Society pay 4.25% but savers have to live in their region and open in branch to secure it.

2 Year ISA

State Bank of India remain leaders paying a huge 4.65%.  They do require savers to open a non-ISA savings account or current account with them to qualify for this rate though.  With several providers pulling out, there's a big drop to Charter Savings in second spot at 4.21% and Yorkshire Building Society in third at 4.10%.  Secure Trust Bank are next best at 4.05%.

3 Year ISA

It's a similar tale at the top of 3 Year with State Bank of India paying 4.65% to top the charts and a big drop to second where Welsh bank, Hodge, pay 4.30%.  UBL Bank next at 4.25% with Secure Trust Bank and Gatehouse both paying 4.20% to complete the top five.

5 Year ISA

State Bank of India also top 5 Year at 4.65% with a big drop then to Furness Building Society relaunching their five year rate to take second at 4.31%.  Secure Trust Bank are a smidgen behind at 4.30% with Gatehouse Bank fourth at 4.20% before a big drop to Paragon and United Trust Bank at 4.05%.

Lifetime ISA

There's no change at the top of Lifetime ISAs with Moneybox and Nude Finance both top at 3% but there is movement below them.  The Moneybox rate does include a 0.25% bonus for 12 months and Nude Finance's rate comes with a £2 monthly fee but both are miles clear of the rest.  Beehive Money are third with a straight 2.30%.  Skipton Building Society are fourth at 1.75%, ahead of Paragon at 1.60%, with Newcastle Building Society bringing up the rear at 1.20%.  

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