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Aldermore and Skipton dominate ISA best buys

 

The new tax year started on 6th April with a bang, with sharp increases in rates.  With a new ISA allowance of £20,000 available to savers, banks are fighting hard to attract savers attention and we've already seen rises of up to 0.15% in categories as fierce competition continues to drive rates higher.  It isn't just the rates which have increased but the quality of providers too - with names like Skipton Building Society and Aldermore, the longest established of the new wave of challenger banks, leading the way.

We've rounded up the best deals available in the market for savers:

 

Easy Access

Cynergy lead the way with a market leading 1.05% being paid on their easy access ISA, ahead of Marcus and Saga, which are both owned by Goldman Sachs International Bank.  They are paying 1% although this comprises a 12 month bonus of 0.10% on top of an underlying rate of 0.90%.  Shawbrook pay a very competitive 0.92% and those top four providers are well clear of the next best - Ecology, Melton, Nationwide and Scottish Building Societies all pay 0.80%.

Notice

Aldermore lead the way with their 30 Day Notice blitzing the competition at 0.90% - the next nearest competitor is Buckinghamshire Building Society paying 0.60%.  Savers who can lock up for longer can get 1% from Melton Building Society but will need to give 100 days notice for access.

1 Year Fixed

Three weeks ago there were no providers paying 1.40%, now there are five paying that or more.  Aldermore lead the way with their 1 Year Fixed rate paying 1.46% ahead of OakNorth paying 1.42%.  Gatehouse, Shawbrook and Secure Trust Bank all pay 1.40%.  It's hard to believe that there wasn't a single provider paying 1% at the end of 2021! 

2 Year Fixed

Aldermore sit clear of the competition at the top of 2 Year Fixed Rates paying 1.86% with a big drop to the next best which is Newcastle Building Society and Gatehouse Bank, both of whom pay 1.75% for the same term with UBL further back at 1.71%.

3 Year Fixed

Just three weeks ago 1.76% topped this category but now 2% is available with Skipton Building Society leading the way at the top of the tables.  There are closely followed by Aldermore at 1.96% with both providers being strongly clear of next best, Gatehouse Bank at 1.85%.

5 Year Fixed

Skipton Building Society and Gatehouse Bank share the top spot with both paying a best buy of 2.10% with Secure Trust and United Trust Bank joint 3rd paying 2%.

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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