ISA round up - 31st July
There was plenty of upwards rate movement again with both easy access and fixed rates increasing. Easy access rates hit 4.20% and all fixed rate categories increased with some up by 0.20%. There's possibly a little more to come but we are expecting a quieter week, with more action likely w/c 24th July, when we expect more providers to gamble on the Base Rate increasing to 5.50%, or more, on 3rd August when the Bank of England meet to discuss rates again. Here's our round up of the best buys and key changes in the Individual Savings Account markets:
Charter Savings have moved alongside Chorley Building Society paying 4.30%. While Charter Savings has no restrictions on withdrawals, Chorley only permits two withdrawals per annum, or the rate is cut to 1.95%. Cynergy Bank pay 4.25% alongside Virgin Money and Paragon Bank. Although Virgin's account is restricted to current account customers only, savers can open a new current account to get the rate. Paragon's 4.25% is restricted to just two withdrawals or a cut in rate to 1.50%. Shawbrook Bank are next with a straight 4.22% ahead of Kent Reliance at 4.21% and Leeds Building Society at 4.20%. Principality Building Society also pay 4.20% but include a 0.40% bonus for 12 months. Existing Halifax customers can get 4.20% but new savers can get 4.10% on their ISA.
Loughborough Building Society still lead the way paying 5% for 180 Days Notice but have bought out a 120 Day Notice paying 4.75% alongside it. Teacher's Building Society offer 4.44% on 120 Day Notice with Chorley Building Society paying 4.30% for the same period. Furness Building Society's new 60 Day Notice pays 4.10% which moves them ahead of both Cambridge and Newcastle Building Society's 100 Day Notice, which pay 4.05%. Aldermore's 30 Day Notice rose to 4% on Friday but everything below this is beaten by several easy access ISA rates so is not worthy of consideration.
NatWest lead the way with a best buy 5.70% on 1 Year Fixed. Tesco Bank moved up to second increasing their rate to 5.60%. There is a three way tie for third with Zopa Bank, Virgin Money and Kent Reliance all paying 5.54%. They are a whisker ahead of Shawbrook Bank at 5.53% with Charter Savings, Nationwide and Leeds Building Society all paying 5.50%.
NatWest top the tables with a huge 5.90%, way clear of second place, which sees a three way tie between Zopa Bank, Virgin Money and Kent Reliance at 5.61%. Secure Trust Bank pay 5.60% ahead of Shawbrook Bank at 5.58% and Charter Savings at 5.57%.
Zopa Bank lead the way with a best buy 5.56%, narrowly ahead of Close Brothers at 5.55%. Shawbrook pay 5.51% ahead of United Trust Bank at 5.40%, a rate matched by Leeds and Principality Building Societies. Aldermore Bank pay 5.45%, as do Hodge Bank.
Principality Building Society are the best buy offering 5.35% for 5 Year Fixed. They are ahead of Zopa Bank, who pay 5.26% ahead and Close Brothers at 5.25%. Shawbrook pay 5.22% ahead of United Trust Bank at 5.20% who are matched by Hodge and Paragon Bank at the same rate.
Moneybox are the best buy paying 4% but their rate does include a 0.75% bonus for 12 months. Nude Finance pay 3.80% but their rate comes with a £2 monthly fee. Bath Building Society are at 3.39% and are ahead of Beehive Money who increased their rate to 3.30%. Skipton Building Society and Newcastle Building Society both pay 3% with Paragon the laggards at 2.50%.