ISA round up - 30th May
30/05/2023
ISA rates have been increasing strongly the past week with new best buys in all categories as the Base Rate increase filters through much quicker than previous rises have. The rise in swap rates is also seeing an interest in fixed ISA money from providers and even longer term fixed rates have seen an uplift. Here's our round up of the best buys and key changes in the Individual Savings Account markets:
It's been another week of rate rises on easy access ISAs. Cynergy Bank now top the leader board paying 3.62%, ahead of Principality Building Society, although the mutuals rate includes a 0.40% bonus for the year. There's a five way tie for third place with Leeds and Chorley Building Societies at 3.55%, alongside Charter Savings Bank, Gatehouse and Shawbrook. All rates are unrestricted bar Chorley's, which is limited to three withdrawals per calendar year. Paragon's Triple Access ISA is next ahead of Marcus and Saga at 3.50% - although both include a 0.35% bonus. Ford Money pay 3.40% and remain popular for their best price guarantee which means existing savers don't get disadvantaged by new ones.
There's improvements at the top of Notice ISAs too with Teacher's Building Society leading the way paying 3.75% on 120 Day Notice and Skipton Building Society's 60 Day Notice increasing to 3.60%. Furness Building Society are third at 3.55% on their 45 Day Notice with Newcastle Building Society next at 3.40% for100 Days' Notice. However, everything below this is beaten by several easy access ISA rates so is not worthy of consideration.
UBL are the best buy, increasing their rate to 4.45% to move ahead of Shawbrook at 4.43%. Charter Savings and Virgin Money share third at 4.41% ahead of Leeds Building Society and Paragon Bank at 4.40%. There's a big drop then to Close Brothers at 4.32% with Tesco at 4.30% then four providers at 4.25% including Aldermore Bank, Castle Trust Bank, Kent Reliance and Principality Building Society.
UBL Bank lead the way with the best rate in the market - 4.55%. They are clear of Virgin Money at 4.51% with a big drop then to Charter Savings Bank in third at 4.42%. There's now a five way tie at 4.40% with Leeds Building Society, Shawbrook, Close Brothers, Paragon Bank and Newcastle Building Society .
Virgin Money lead the way paying 4.55% with a drop to UBL Bank in second at 4.45%. Shawbrook Bank are next at 4.37% with Secure Trust Bank just behind at 4.35%. Aldermore Bank moved up to 4.30% to jump above Hampshire Trust Bank, who pay 4.25%, where they have been joined by both Leeds and Principality Building Societies.
Leeds Building Society moved top with an increase to 4.25% to move ahead of long time leader, Gatehouse Bank, who continue to pay 4.20%. Principality Building Society are up to third with an increase to 4.15% with West Brom Building Society next at 4.05%. Hinckley Building Society and Secure Trust Bank both pay 4% with all other providers below the 4% marker.
Moneybox remain outright top at 3.50%. The Moneybox rate does include a 0.75% bonus for 12 months. Nude Finance are next but their 3.30% rate comes with a £2 monthly fee. Beehive Money are third with a straight 3% with Paragon Bank and Newcastle Building Society both paying 2.50%. Skipton are the laggards at 2.30%.