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ISA round up - 30th January

We had a second week of strong upwards increases to easy access rates as providers finally came to life following December's Base Rate hike.  All eyes will be on Thursday's Base Rate decision to see if this drives rates higher.   There is a new best buy in notice and Fixed rate ISAs have largely held firm, with only five year seeing any real reductions.  Here's our round up of the best buys and key changes in the Individual Savings Account markets:

Easy Access ISA

Virgin Money still lead the way at 3% (although this account is only available to Virgin Money current account holders) but the gap has closed further with Cynergy Bank hiking its rate to 2.85% and Paragon relaunching its Triple Access ISA at the same rate.  Shawbrook also upped its rate to 2.77% and Newcastle Building Society improved their Triple Access ISA rate to 2.75% to move alongside Yorkshire Building Society as four of the top six providers increased rates. Sainsbury's are next at 2.70% ahead of Harpdenden Building Society, who pay 2.60% on their triple access ISA.  There's a multitude of providers to choose from at 2.50-2.55% as easy access ISA rates finally spring to life and Thursday's Base Rate announcement could well improve things further.

Notice ISAs

Loughborough are the new Notice ISA leaders paying 3.05% on 120 Day Notice.  The account can only be opened and managed by branch and post though.  Furness Building Society are next at 3% on their 45 Day Notice ISA. Mansfield Building Society also pay 3% but on a huge 180 Days' Notice.  Hinckley & Rugby are fourth at 2.95% on their 90 Day Notice, ahead of Aldermore Bank who pay 2.80% on just 30 Days' Notice.  Melton Building Society pay 2.65% on 100 Day Notice rate to complete the top six.  Below this, all providers are beaten by the best easy access rates.

1 Year ISA

Barclays still leading the way paying 4% on their 1 Year Flexible ISA.  Coventry Building Society are second at 3.80% but their fixed maturity date of 31st May 2024 makes this a 16 month fixed rate ISA.  Virgin Money are next at 3.79%, although they pay a huge 4.25% to new and existing current account holders. Charter Savings Bank upped their 1 Year rates to 3.78% to move alongside Shawbrook and ahead of Secure Trust Bank (3.75%). Gatehouse Bank are next at 3.70% with OakNorth Bank at 3.68%.  Leeds and Cambridge Building Society are at 3.65% ahead of long time leader UBL at 3.60%. 

2 Year ISA

Virgin Money still lead the way paying 4.11%, which is just enough to keep Barclays and Castle Trust Bank in second at 4.10%. Charter Savings Bank are next at 4.09% with Secure Trust Bank completing the top five at 4.05%.  State Bank of India is the only other providers paying more than 4%, offering 4.01%.

3 Year ISA

Gatehouse Bank lead the way at 4.20% after UBL Bank cut their rate to 4.11% to drop to second. There's a three way tie for third with Castle Trust Bank, State Bank of India and Secure Trust Bank all pay 4.10%.  Hodge Bank, at 4.05%, are the only other provider paying above 4%.

5 Year ISA

Gatehouse Bank are the new leaders paying 4.20%, after Hinckley & Rugby withdrew.  UBL are second paying 4.11% ahead of Metro Bank at 4.01% with Principality Building Society just behind at 4%.

Lifetime ISA

Moneybox remain outright top at 3.50%. The Moneybox rate does include a 0.75% bonus for 12 months.  Nude Finance are second at 3% but their rate comes with a £2 monthly fee.  Beehive Money are third with a straight 2.75% with Paragon Bank close behind at 2.50%, after they hiked their rate during the week.  There's a big drop then to Skipton Building Society who at 1.75% and Newcastle Building Society at 1.50%.

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