ISA round up - 27th March
26/03/2023
Easy access ISA rates improved again with three providers tied at 3.20% and 13 paying 3% or more. Santander have made a late ISA season move with best or joint best buy rates of 3.20% easy access, 4.15% for 1 Year and 4.20% for 2 Year. Longer term fixed rates are static though as the market prices in the expectation that the current Base Rate of 4.25% is the peak and that rates will fall in the coming years. Here's our round up of the best buys and key changes in the Individual Savings Account markets:
There are big changes at the top of easy access ISAs with three providers leading the way at 3.20%. Cynergy Bank have been joined by Santander and Paragon Bank's Triple Access ISA. They move ahead of Shawbrook Bank (3.17%) and Gatehouse Bank (3.15%). Teachers Building Society also upped their rates to 3.15% with 3.20% available for teachers and education professionals. Principality Building Society are next at3.10%, although this does include a 0.40% bonus for 12 months. Yorkshire Building Society also pay 3.10% but as it only allows one withdrawal per annum, we haven't included it in our tables.
There's a great offer for savers who haven't signed up to Hargreaves Lansdown's Active Savings - they are offering £100 cashback on Coventry Building Society's Limited Access ISA paying 3%, for those saving at least £10,000. This equates to a 4% annual return on £10,000 or 3.50% for those saving the full £20,000 ISA allowance.
Notice ISA best buys are unchanged with Furness Building Society leading the way at 3.30% on their 45 Day Notice. Mansfield Building Society pay 3.25% - but on a huge 180 Days' Notice, although they do pay 2.85% on 95 Days. Newcastle Building Society's 100 Day Notice pays 3.10% ahead of Loughborough Building Society, who pay 3.05% on 120 Day Notice. Like Mansfield, this account is only available by post or in branch. Below this, all providers are well beaten by the best easy access rates.
Santander are the new leader, paying 4.15% for 1 Year Fixed. Gatehouse Bank drop to second paying 4.10%. UBL Bank pay 4.01% to share third spot with Charter Savings. They are ahead of Shawbrook who pay 3.98%, to stay ahead of Castle Trust Bank and Paragon Bank at 3.96%. Aldermore Bank pay 3.95% after their increase last week.
Santander and Gatehouse share top spot paying 4.20%, which sees Virgin Money drop to third at 4.17%. Shawbrook are next at 4.16% ahead of a trio of providers at 4.15% - Paragon Bank, Charter Savings and Close Brothers. Kent Reliance and Secure Trust Bank both moved up to 4.10% ahead of Aldermore Bank and Leeds Building Society at 4.05%.
Gatehouse Bank and Close Brothers tie for top spot at 4.20% but Aldermore Bank move up to joint third paying 4.15%, alongside Paragon Bank at 4.15% and ahead of UBL Bank at 4.11%. Leeds Building Society pay 4.10% as do State Bank of India and Secure Trust Bank.
There's no change on 5 Year as Gatehouse Bank continue to lead the way at 4.20% with United Trust Bank at 4.05% ahead of a three way tie for third - UBL pay 4% as do Secure Trust Bank and West Brom Building Society.
Moneybox remain outright top at 3.50%. The Moneybox rate does include a 0.75% bonus for 12 months. Bath Building Society are next paying 3.19% on their Lifetime ISA but savers must be existing customers or live in the Bath area. Beehive Money are third at 3% alongside Nude Finance but their 3% rate comes with a £2 monthly fee. Paragon Bank and Newcastle Building Society both pay 2.50% and Skipton are the laggards at 2.25%.