ISA round up - 6th February

Thursday's Base Rate increase to 4% saw the first easy access ISA rate over 3% as Newcastle Building Society went top at 3.05%.  We expect to see other providers join them with Base Rate at 4% and expected to go higher still in March.  Fixed rate ISAs continue to hold up well and we think that rates are unlikely to dip further from these levels, albeit we doubt there will be significant increases either, at least in the next two months. Here's our round up of the best buys and key changes in the Individual Savings Account markets:

Easy Access ISA

There's a new best buy on easy access with Newcastle Building Society adding 0.30% to their Triple Access Saver, in response to the Base Rate increase.  The rate does drop to 1.75% if four or more withdrawals are made.  Virgin Money drop to second at 3% (although this account is only available to Virgin Money current account holders). Cynergy Bank and Paragon Bank's Triple Access ISA share third spot paying 2.85%.  Shawbrook complet the top five at 2.77% ahead of Yorkshire Building Society and Leeds Building Society at 2.75%.  We expect rates to rise further once providers have digested Thursday's Base Rate increase.

Notice ISAs

Loughborough remain leaders paying 3.05% on 120 Day Notice.  The account can only be opened and managed by branch and post though.  Furness Building Society are next at 3% on their 45 Day Notice ISA. Mansfield Building Society also pay 3% but on a huge 180 Days' Notice.  Hinckley & Rugby are fourth at 2.95% on their 90 Day Notice, ahead of Aldermore Bank who pay 2.80% on just 30 Days' Notice.  Melton Building Society pay 2.65% on 100 Day Notice rate to complete the top six.  Below this, all providers are beaten by the best easy access rates.

1 Year ISA

Barclays still leading the way paying 4% on their 1 Year Flexible ISA.  Secure Trust Bank have moved up to second paying 3.80%, having increased their 1 Year rate on Friday, to move alongside Coventry Building Society.  Their 3.80% rate has a fixed maturity date of 31st May 2024, making this a 16 month fixed rate ISA.  Virgin Money are next at 3.79%, although they pay a huge 4.25% to new and existing current account holders. Charter Savings Bank and Shawbrook both pay 3.78% ahead of Leeds Building Society are at 3.75%.

2 Year ISA

Virgin Money still lead the way paying 4.11%, which is just enough to keep Barclays and Castle Trust Bank in second at 4.10%. Charter Savings Bank are next at 4.09% with Secure Trust Bank completing the top five at 4.05%.  State Bank of India is the only other providers paying more than 4%, offering 4.01%.

3 Year ISA

Gatehouse Bank still lead the way at 4.20%, ahead of UBL Bank at 4.11%, in an unchanged line up in the top five. There's a three way tie for third with Castle Trust Bank, State Bank of India and Secure Trust Bank all pay 4.10%.  Hodge Bank, at 4.05%, are the only other provider paying above 4%.

5 Year ISA

Gatehouse Bank and Close Brothers share top spot - both paying 4.20% - ahead of UBL who are paying 4.11%.  Metro Bank at 4.01% are the only other provider paying more than 4%. Principality Building Society are just behind at 4% and they've been joined by fellow mutual, Furness, who rejoined the market last week.

Lifetime ISA

Moneybox remain outright top at 3.50%. The Moneybox rate does include a 0.75% bonus for 12 months.  Nude Finance are second at 3% but their rate comes with a £2 monthly fee.  Beehive Money are third with a straight 2.75% with Paragon Bank close behind at 2.50%.  Newcastle are up to 2% with Skipton Building Society paying 1.75%.  Lifetime ISA savers will be hoping to see their rates improve this week in response to the Base Rate increase.

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