ISA round up - 27th February
26/02/2023
Easy access ISA rates continue to rise with a new best buy rate and five providers paying 3% or more. Fixed rate ISA best buys continue to hold up well but we've seen some drop off in the chasing pack and any cut from Gatehouse Bank, who lead 2, 3 and 5 Year, could trigger a fall back. Here's our round up of the best buys and key changes in the Individual Savings Account markets:
Shawbrook Bank are the new leaders, as they increased their rate to 3.01%. There's a four way tie for second - Coventry Building Society, Cynergy Bank, Harpdenden Building Society and Virgin Money all paying 3%. The Cynergy rate is unrestricted but Coventry's rate is limited to six withdrawals, Harpenden to three and Virgin Money is for current account holders only (but savers can open one to access this rate). Gatehouse Bank are next at 2.90% with Paragon Bank's Triple Access ISA, Sainsburys Bank and Principality Building Society all tied, the latter having a 0.40% bonus for 12 months.
Notice ISA best buys remain unchanged with Loughborough still 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. Below this, all providers are well beaten by the best easy access rates.
There's also no change on 1 Year as Barclays still lead the way paying 4% on their 1 Year ISAs with UBL Bank 2nd at 3.91% ahead of Castle Trust Bank at 3.90%. OakNorth and Virgin complete the top five at 3.85%, although Virgin pay 4.25% to existing current account holders. Shawbrook are at 3.82% and Cynergy at 3.81%.
Gatehouse Bank still lead the way at 4.10% but Close Brothers are up to second, as they come back in to the market at 4.05%, to move ahead of State Bank of India at 4.01%. There's a host of providers at 4% with Virgin Money, Leeds Building Society, Secure Trust, Skipton Building Society and Coventry all tied.
With Skipton pulling, Gatehouse Bank lead the way on their own at 4.20%. UBL Bank are next at 4.11% ahead of Close Brothers and State Bank of India who both pay 4.10%. Leeds Building Society, at 4.05%, are the only other provider paying above 4%.
It's the same top two and same rates as 3 Year with Gatehouse Bank leading the way at 4.20%, ahead of UBL who are paying 4.11%. Secure Trust Bank move up to third at 4% wtih United Trust Bank (3.95%) and West Brom Building Society (3.90%) completing the top five.
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%. Skipton are at 2.25% leaving Newcastle bringing up the rear at 2%.