ISA round up - 17th April
16/04/2023
Easy access ISA rates hit new heights as Leeds Building Society and Cynergy Bank both upped rates last week. Fixed rates fell back a touch with UBL cutting their marketing leading rates but the 1 and 2 Year categories are particularly tightly knit, which could help push rates a touch higher this week. Here's our round up of the best buys and key changes in the Individual Savings Account markets:
Leeds Building Soceity are the new leaders with their Limited Issue ISA paying 3.30%. They move ahead of Cynergy Bank, who upped their rate to 3.28% last week, which knocks previous leader Shawbrook (3.27%) down to third place. Yorkshire Building Society pay 3.35% but limit access to one withdrawal - which we consider too prohibitive to include in our tables. Coventry Building Society are next at 3.25%, after they increased their rate by 0.25%.
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, which pays 3.25%, for those saving at least £10,000. This equates to a 4.25% annual return on £10,000 or 3.75% for those saving the full £20,000 ISA allowance.
There's four providers at 3.20% with Santander and Gatehouse Bank paying a straight rate. Marcus and Saga's 3.20% includes 0.25% of their rate as a bonus for 12 months.
Furness Building Society are leading the way at 3.55% 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 increased to 3.25% to move alongside them and Loughborough Building Society remain at 3.05% on their 120 Day Notice. Like Mansfield, this account is only available by post or in branch. Aldermore Bank pay 2.80% for 30 Day Notice.
Gatehouse Bank are the new leaders paying 4.20% to head a crowded field with 15 providers paying 4% or more for 1 Year. Shawbrook and Close Brothers share second - both paying 4.17% - with Charter Savings just behind at 4.16%. Cynergy and Santander pay 4.15% ahead of Coventry Building Society completing the top six at 4.12%. Last week's leader, UBL cut their rate to 4% during the week and complete our top 15 alongside Aldermore Bank, who increased to 4% on Friday.
Paragon, Shawbrook and Close Brothers share the lead - all paying 4.28% for 2 Year. Leeds Building Society and Virgin Money are just behind at 4.26% with Nationwide and Charter Savings Bank just a basis point behind them at 4.25%. Kent Reliance complete the top seven at 4.22%.
Cynergy Bank, Gatehouse and Leeds Building Soceity all pay 4.20% to share top spot. Aldermore Bank are close behind paying 4.15%, alongside Secure Trust Bank with Skipton a touch behind at 4.11%. Ford Money and State Bank of India pay 4.10%, Yorkshire Building Society pay 4.05% with all other providers paying 4% or less.
Gatehouse Bank continue to lead the way at 4.20% with United Trust Bank at 4.05% ahead of a four way tie for third - UBL pay 4% as do Paragon, 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 2.30%.