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ISA round up - 2nd January

The Christmas period saw more rate cuts for ISA savers with all fixed rate terms seeing significant reductions in the best buy rates. Only Virgin Money pay above 5.01% on ISAs and they require a current account to access this rate. We expect this week to see the end of 5%+ fixed ISA rates with the unusual position of easy access ISA rates paying more than fixed ones likely by the end of the week.  Here's our round up of the best buys and key changes in the Individual Savings Account markets:

Easy Access ISA

Zopa Bank remain best buy at 5.08% and they are now open to transfers in. They are ahead of Principality Building Society who pay 5.06% - but a whopping 0.96% of this is a bonus for 12 months. Leeds Building Society are next paying 5.05% ahead of Cynergy at 5%. The big mover was Family Building Society - who increased their market tracker up to 5%, from 4.69%. This account tracks the market and is reviewed quarterly - with rates falling back, this could be a good option. Virgin Money are next at 4.96% but this account pays a lower rate of 2% if more than three withdrawals are made in a calendar year. Charter Savings pay 4.91% to complete the top seven. Metro Bank do pay 5.11% but this has a massive 3.46% 12 month bonus, which is why we exclude it from our tables - and it is only available in their branches.

Notice ISAs

Mansfield Building Society lead the way with its 180 Day Notice paying 5.30%. Teacher's Building Society are next paying 5.25% for 180 Days' Notice for this and 120 Days for 5%. Chorley Building Society are third with their 150 Day Notice paying 5.05%. Furness Building Society are next with their 90 Day Notice paying 5.01%.  Loughborough Building Society pay 5% for 180 Days Notice and 4.75% for 120 Day Notice. 

1 Year ISA

Virgin Money lead the way paying 5.25% - savers must have, or open, a Virgin Money current account to get that rate. Shawbrook Bank are second paying 5.01% after they increased their rate on Friday. There's a trio of providers at 5% - Dudley Building Society, Post Office Money and Kent Reliance. There's four providers at 4.95% and we expect this price point is likely to be where 1 Year ISA best buys hold for this month.

2 Year ISA

2 Year rates continued to fall with all the top seven withdrawing or cutting which promotes Post Office Money to best buy at 4.90%. UBL Bank and Ford Money are tied second - both paying 4.85% - and Zopa Bank and Dudley Building Society share third with the duo paying 4.80%.

3 Year ISA

UBL Bank lead the way at a reduced rate of 4.65% despite cutting 0.21% from their rate last week. They are ahead of Castle Trust Bank at 4.60% with a trio tied for third at 4.50% - Zopa Bank, TSB and Close Brothers. 

5 Year ISA

UBL Bank are still best buy paying 4.50%, despite lopping 0.31% off their rate last week. They are ahead of Hinckley & Rugby Building Society at 4.45% and Castle Trust Bank at 4.35%. Zopa Bank and West Brom Building Society complete the top five tied at 4.30%.

Lifetime ISA

Moneybox pay a best buy 4.25% - 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 - although this is fee free for the first 12 months currently.  Bath Building Society are at 3.79% ahead of Paragon Bank at 3.51%. Beehive Money are just behind at 3.50%. Skipton Building Society pay 3.25% and Newcastle Building Society are lagging at 3%.

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