ISA round up - 24th April
Easy access ISA rates improved as Cynergy and Leeds Building Society continue to trade places at the top of the best buys. Fixed rates increased slightly with Castle Trust Bank paying a market leading 4.30% on 2 Year Fixed and the top providers on 1 and 2 Year tightly packed. This could help spur further increases this week. Here's our round up of the best buys and key changes in the Individual Savings Account markets:
Cynergy Bank are the new leaders having upped their rate to 3.35% to move above Leeds Building Society whose Limited Issue ISA pays 3.30% as the two providers fight to outdo each other. Yorkshire Building Society pay 3.35% but limit access to one withdrawal - which we consider too prohibitive to include in our tables. Shawbrook Bank are third at 3.27% ahead of Coventry Building Society at 3.25% alongside Kent Reliance. Ford Money were also on the move, up to 3.20%.
There's a great offer for savers who haven't signed up to Hargreaves Lansdown's Active Savings - they are offering £100 cashback on Coventry Building Society's Limited Access ISA, which pays 3.25%, for those saving at least £10,000. This equates to a 4.25% annual return on £10,000 or 3.75% for those saving the full £20,000 ISA allowance.
Furness Building Society lead the way at 3.55% on their 45 Day Notice. Mansfield Building Society pay 3.25% - but on a huge 180 Days' Notice, although they do pay 2.85% on 95 Days. Newcastle Building Society's 100 Day Notice increased to 3.25% to move alongside them and Loughborough Building Society remain at 3.05% on their 120 Day Notice. Like Mansfield, this account is only available by post or in branch. Aldermore Bank pay 2.80% for 30 Day Notice.
The top eight providers are separated by just 5bps. Gatehouse Bank lead the way at 4.20% with Shawbrook and Close Brothers sharing second paying 4.17%. Charter Savings and Secure Trust both pay 4.16% and there's a three way tie at 4.15% with Castle Trust Bank, Cynergy and Santander all tied.
It's a similar story in 2 Year with six providers separated by 0.05%. Castle Trust Bank lead the way with a late move on Friday to 4.30% to pip Shawbrook and Close Brothers who both pay 4.28%. Leeds Building Society are just behind at 4.26% with Nationwide and Charter Savings Bank a further basis point behind them at 4.25%. Kent Reliance complete the top six at 4.22% ahead of a six way tie at 4.20% with Virgin, Gatehouse, Secure Trust, Coventry Building Society, Cynergy and Santander all locked together.
Cynergy Bank, Gatehouse, Leeds Building Soceity and Secure Trust Bank all pay 4.20% to share top spot. Aldermore Bank are close behind paying 4.15% with Skipton next at 4.11%. Ford Money and State Bank of India pay 4.10%, Yorkshire Building Society pay 4.05% with all other providers paying 4% or less.
Gatehouse Bank continue to lead the way at 4.20% with a three way tie for second - UBL pay 4% as do Secure Trust Bank and West Brom Building Society. Principality Building Society complete the top five at 3.95%.
Moneybox remain outright top at 3.50%. The Moneybox rate does include a 0.75% bonus for 12 months. Bath Building Society are next paying 3.19% on their Lifetime ISA but savers must be existing customers or live in the Bath area. Beehive Money are third at 3% alongside Nude Finance but their 3% rate comes with a £2 monthly fee. Paragon Bank and Newcastle Building Society both pay 2.50% and Skipton are the laggards at 2.30%.