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Yorkshire Building Society’s 3.1% easy access account and all this week’s best buy ISAs

Nick Cheek
Written By:
Nick Cheek
Posted:
Updated:
10/03/2023

It’s all change in the easy access ISA tables as three new accounts take over at the top.

There has also been a flurry of action in the easy access ISA world. In these accounts, savers can put their money away, earn interest but also access it if they need to without paying a penalty.

Last week saw Shawbrook take top spot with its Easy Access Cash ISA (Issue 23) which pays 3.01%. This week, it’s bad news for Shawbrook at least, as its ISA has slipped into fourth spot. However, it’s good news for savers as there are now three brands paying up to 3.10%.

Here we take a look at the best ISAs of the week as picked by Moneyfactscompare.

The best easy-access cash ISAs

The best easy access ISA rate on the market currently stands at 3.10% AER and is offered by two different providers.

Yorkshire Building Society has two easy access ISAs offering the 3.10% AER – its Limited Access ISA, and its online counterpart, the Limited Access Saver e-ISA. Both accounts can be opened with a minimum of £1, and both pay interest yearly. While withdrawals are allowed from each account, they can only be made on one day per year based on the anniversary of account opening.

Also offering 3.10% AER is Paragon Bank’s Triple Access ISA – Issue 12. This online-only account can be opened with a minimum deposit of £1 and you can choose whether interest is paid monthly or on anniversary. Withdrawals are permitted, though you should note that making more than three withdrawals within a 12-month period will result in a lower rate being paid.

Next up comes Cynergy Bank’s Online ISA (Issue 31): This ISA pays 3.05% 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.

This week’s best fixed-rate cash ISAs

There are a  couple of new entrants in this week’s fixed-rate ISA table.

One-year fixed

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.

Two-year fixed

After increasing its rate by half a percent yesterday, Shawbrook Bank’s 2 Year Fixed Rate Cash ISA Bond Issue 68 now leads with a rate of 4.16%. You’ll be able to choose when you’d like to receive your interest, with it being paid either monthly or on anniversary. Initial deposits start at £1,000, and you can keep adding to this figure while this issue remains open. In other words, you can keep adding to your pot until Shawbrook Bank. As for early access to your funds, you’ll be charged a 180-day loss of interest penalty.

Three and five-year fixed

Gatehouse Bank’s three and five-year Woodland Cash ISAs continue to lead the pack. The Shari’ah-compliant provider will plant a tree in a UK woodland for every Woodland Cash ISA opened and funded.

All accounts pay 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.

Joining Gatehouse Bank on top of the three-year chart is Close Brothers Savings, which pays its rate of 4.20% on anniversary. Its three-year fixed rate ISA needs a minimum deposit of £10,000 to start earning interest and allows you to add to this sum for 10 days from account opening. Meanwhile, early access to your funds will result in closure of the ISA and a 270-day loss of interest 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 3.30% 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.


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