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Easy access rate war heats up as Skipton unveils table-topping cash ISA

Joanna Faith
Written By:
Joanna Faith

Competition is ramping up in the easy access ISA space with Skipton Building Society launching a new market-leading deal paying 1.48%.

The new rate knocks Virgin Money and Coventry Building Society off the top spot after they both increased their rates to 1.47% last week.

The Skipton account is available in branch and online and requires a minimum deposit of £1.

The headline rate includes a bonus of 0.48% for 16 months so it’s worth reviewing the deal shortly before the bonus expires to make sure the rate is still competitive.

Rachel Springall, finance expert at Moneyfacts, said: “While many top fixed and limited-edition ISAs were pulled as the peak of the ISA season fizzled out, its positive to see some competition within the easy access ISA market from well-known brands.

“However, if we were to roll back to March, savers could get 1.50% from Coventry Building Society.”

Savers prepared to lock their money away for up to 60 days can get 1.50% from Kent Reliance on its 60-Day Notice.

If they can stretch to a year, they can get a rate of 1.71% with Dudley Building Society.