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The best savings accounts and ISAs this week

Rebecca Goodman
Written By:
Rebecca Goodman
Posted:
Updated:
29/09/2023

Savings rates have remained strong this week despite the base rate being held and the best easy-access ISA even increased to 4.90%.

For the first time in almost two years the Bank of England (BoE) held rates at 5.25% last week but savers still have some competitive options to choose from.

They can still open a fixed-rate savings account paying 6.20% from National Savings and Investments (NS&I) or a fixed-rate ISA from Virgin Money paying 5.85%, for example.

Here we look at all of this week’s best rates, with data from Moneyfacts.

The best savings accounts of the week

This week’s best easy-access savings account is the Chorley Building Society North West Easy Access Saver (1 Withdrawal), yet as the name suggests it only allows one withdrawal before the rate drops. It pays 5.20% on a minimum opening deposit of £1,000.

There’s also the Coventry BS Triple Access Saver (Online) which also pays 5.20% and allows three withdrawals before the rate drops. It can be opened with £1. Or for an account with no withdrawal restrictions, there’s the Ulster Bank Loyalty Saver which also pays 5.20% and has no minimum deposit amount.

If you’re looking to fix your savings, the best one-year fixed-rate account this week is still the NS&I Guaranteed Growth Bonds Issue 72 which pays 6.20% on a minimum of £500. The next-best is the Al Rayan Bank Raisin UK – 1 Year Fixed Term Deposit which pays 6.12% on a minimum of £5,000.

You can’t get a higher interest rate for putting money away for longer at the moment and the best two-year account remains the Ford Money Fixed Saver 2 Year paying 6.05% on a minimum of £500.

The best easy-access ISAs of the week

Paying 4.90%, the Coventry BS Four Access ISA (Online) is this week’s top account for easy access ISAs. However, only four withdrawals are allowed before the rate drops so it’s not completely easy access. It can be opened and managed online and it has a minimum opening deposit of £1.

The next-best are the following:

  1. Shawbrook Bank’s Easy Access Cash ISA – Issue 25: paying 4.81% on a minimum of £1,000 this account can be opened online and there are no withdrawal restrictions.
  2. Chorley Building Society’s Easy Access Cash ISA (1 Withdrawal): only allowing one withdrawal, this ISA pays 4.80% on a minimum opening deposit of £1.
  3. Leeds BS’ Limited Issue Online Access ISA (Issue 65): paying 4.80% this account can be opened with £1,000.

The best fixed-rate ISAs of the week

Paying 5.85%, the market leader this week is still the Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 6. It has no minimum deposit and withdrawals will result in a 60-day loss of interest penalty.

However, it’s only open to new and existing Virgin Money current account customers or existing customers who originally opened a Clydesdale Bank, Yorkshire Bank, or B current account.

The next best are the following:

  1. Charter Savings Bank’s 1 Year Fixed Rate Cash ISA: paying 5.78%, this online account has a minimum opening amount of £5,000. Early access will result in a 90-day loss of interest penalty.
  2. Close Brothers Savings’ 1 Year Fixed Rate Cash ISA: also paying 5.78% this ISA has a minimum opening deposit of £10,000. Early access will result in a 90-day loss of interest penalty.
  3. UBL UK 1 Year Fixed Rate Cash ISA: paying 5.77% this account can be opened with £2,000. Early access will result in a 90-day loss of interest penalty.

The best notice ISAs of the week

Paying 5.05% the market-leading notice account is the Chorley Building Society 150 Day Notice Cash ISA, which can be opened with £1.

There are lots of options if you don’t want to put your money away for as many days though. The best account with a shorter notice period is still the Aldermore 30 Day Notice Cash ISA Issue 12 which can be opened with £1,000.