Rates across both savings accounts and ISAs are continuing to rise and the average interest on easy access and notice ISAs is now at the highest since 2009, according to Moneyfacts.

Here we look at the Moneyfacts pick of the best new savings rates around and the best ISAs of the week currently available.

The Moneyfacts best savings accounts of the week

The new Chip Instant Access account from ClearBank pays 3.11% gross and 3.15% AER following a rate boost. The mobile-operated account can be opened with a fee-free Chip subscription or by paying a £4.99 fee per 28-days subscription. It has a minimum opening deposit of £1.

A new 12-Month Fixed Term Savings Account (Issue 33) from Allica Bank was also picked out by Moneyfacts this week. It pays 4.25% after a rate rise and interest is paid on maturity. Early access is not allowed but you can make further additions for 14 days from opening the account. It has a minimum opening amount of £10,000 and must be opened online but can also be managed through the bank’s app.

The Vanquis Bank – 2 Year Vanquis Bank Savings account is chosen which now pays 4.35%. You can be paid interest monthly or annually and it has a minimum opening deposit of £1,000. It is opened online but also managed by phone and post.

The best easy-access cash ISAs

Once again, Virgin Money remains at the top of the table with its Easy Access Cash ISA Exclusive Issue 2 paying 3% AER. The account pays interest yearly and there’s no minimum deposit required to open it.

It’s only available to new and existing Virgin Money current account holders from 4 December 2019. The exception to this rule is any Virgin Money customers who originally opened a Clydesdale Bank, Yorkshire Bank or B current account.

You can apply in a branch or online but it can also be managed via the post, phone, or the bank’s mobile app.

The next-best accounts as picked by Moneyfacts are the following:

1. Harpenden BS’s Triple Access Cash ISA: Paying 3% AER, this ISA can only be opened in a branch or via the post but you can also manage it online. The rate drops to 1.6% AER if four or more withdrawals are made each year. The minimum deposit is £1 and interest is paid yearly.
2. Cynergy Bank’s Online ISA (Issue 30): This ISA also pays 3% AER but it’s an online account, opened and managed through the bank’s app, and there are no penalties for withdrawals. The minimum deposit is £1 and it pays interest annually.
3. Shawbrook Bank’s Easy Access Cash ISA – Issue 22: Paying 2.77% AER on a minimum opening deposit of £1,000, interest is paid away or compounded either monthly or on anniversary. It needs to be opened online but can be managed on the phone as well.
4. Coventry BS’s HL Active Savings – Limited Access ISA and its Limited Access ISA (Online) (4): There are two options from Coventry BS, which both pay 2.90% AER. The first compounds and pays interest monthly, while the online option is a flexible ISA and you can choose if interest is paid away or compounded either monthly or on anniversary. With both, you can only make six penalty-free withdrawals per year and subsequent withdrawals will be subject to a 50-day loss of interest penalty. They can only be opened through the Hargreaves Lansdown Active Savings platform.

This week’s best fixed-rate cash ISAs

There’s little change from last week in the fixed-rate ISA table with Virgin Money and Gatehouse Bank continuing to dominate the best buy tables.

The Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 4 pays 4.25% and doesn’t require a minimum opening deposit. It also allows further additions to your funds while the issue remains open and within 30 days of the issue closing.

Early access will result in a 60-day loss of interest penalty while your rate is paid on maturity. It needs to be opened online or in a branch but can also be managed by post.

The bank also has a new 2 Year Fixed Rate Cash E-ISA Issue 554 which pays 4% out this week. While not a market-leading rate, it is given an excellent rating by Moneyfacts.

Gatehouse Bank’s two, three and five-year Woodland Cash ISAs are next in the charts. The Shari’ah-compliant provider will plant a tree in a UK woodland for every Woodland Cash ISA opened and funded.

It pays an expected profit rate of 4.20%, either monthly or on the anniversary of opening the accounts.

Minimum deposits start at £1,000 while further additions are not allowed. These must be opened online and managed online or via mobile app.

If you require early access to your funds. The two-year ISA imposes a 180-day loss of profit penalty, the three-year bond imposes a 270-day loss, while the five-year option will enforce a 365-day loss of profit penalty.

This week’s best notice accounts

For notice accounts, Moneyfacts tables are unchanged this week.

The Aldermore 30 Day Notice Account remains in the top spot with an AER of 2.80%. It has a minimum opening deposit of £1,000 with interest paid away or compounded monthly or on anniversary. Withdrawals are subject to a 30-day notice period, or funds can be accessed earlier subject to a 30-day loss of interest. It can only be opened and managed online.

The second best goes to the Furness BS’s 45 Day Notice Cash ISA paying 3.00% AER. It has a minimum deposit of £1,000 and you need to open this one in a branch or by post. It can also be managed over the phone once opened.