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2 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options ISA Information ISA Access SG Verdict
Al Rayan Bank
1.40% £1,000 / No maximum

Branch
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Branch
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  • Paid Away or Compounded
  • Paid Quarterly

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs

- This ISA is not flexible, and you not be able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are not permitted

Further additions allowed for up to 30 days after the account is opened

Al Rayan launched ISAs in 2015.  They are a Sharia bank so this account pays expected profit, rather than interest, to meet Sharia law requirements.  Those savers comfortable with this are likely to be attracted by the variety of channels to open and manage their account.

Cambridge Building Society
1.00% £500 / £2m

Branch
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Branch
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  • Paid Annually
  • Paid 31st December

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs and Help to Buy ISAs

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

- Withdrawals are permitted but are subject to the loss of 180 days of interest

- Once opened, you may invest all or part of your 2019/2020 ISA subscription limit of £20,000 and all or part of your 2020/2021 ISA subscription limit of £20,000. Once opened, the initial investment can be added to during the 2019/2020 and 2020/2021 tax years only. Additional funds can’t be added to the account during subsequent tax years.

- Competitive rate from Cambridge, which is the 13th largest building society in the UK looking after over £1.24bn of deposits, and who are one of the few providers to have their own savings app

Coventry Building Society
1.00% £1 / No Maximum

Branch
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Branch
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  • Paid On Maturity

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs and Help to Buy ISAs

- This ISA is not flexible, and you not be able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are not permitted but early closure can be made with the loss of 180 days of interest

Further additions allowed for 14 days after the account is opened, or for as long as the product is open, whichever is longer

Competitive rate from Coventry Building Society which is the 2nd largest building society in the UK looking after over £36bn of deposits

This product has a fixed maturity of 31st May 2022

Gatehouse Bank
1.05% £1,000 / £1m

Branch
App
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Telephone

Branch
App
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  • Paid Away or Compounded
  • Paid On Maturity

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs and Help to Buy ISAs

- This ISA is not flexible and you will not be able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are permitted but will result in a loss of 1800 days profit

Initial deposit must be received within 14 days to guarantee the rate and the account will be closed if no deposits are received within 45 days of opening.

Gatehouse launched ISAs in April 2020.  They are a Sharia bank so this account pays expected profit, rather than interest, to meet Sharia law requirements.  The Bank looks after £318m of savings.

Hampshire Trust Bank
0.85% £1 / £250,000

Branch
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Telephone

Branch
App
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Post
Telephone

  • Paid Annually
  • Paid On Maturity

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs and Help to Buy ISAs

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals are not permitted

Additions can only be made in the first 14 days

London based Hampshire Trust Bank launched in 1977 but  was acquired by a new management team in 2014.
 
HTB look after around approximately £700m of deposits
 
While Hampshire Trust normally allow account opening by post, this has been suspended in the wake of the Covid-19 outbreak
Hodge Bank
1.05% £1,000 / No Maximum

Branch
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Branch
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  • Paid Monthly
  • Paid Annually
  • Interest paid annually is compounded. Interest paid monthly paid away.

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs

- Additional permitted ISA subscriptions are not accepted

Withdrawals allowed subject to the loss of 180 days of interest

Once you have funded the account, no further additions are allowed

Hodge bank is based in South Wales and was authorised in 1987 and looks after just under £1bn of deposits.

Kent Reliance
1.05% £1,000 / £1m

Branch
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Branch
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  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually
  • Monthly interest paid on the last working day of the month Annual interest paid on 5th April

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs and Help to Buy ISAs

- Split ISA allowance is permitted

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals and early closure is permitted subject to the loss of 180 days of interest

Additional funds and transfers in are permitted within the first 30 days of the account being opened

Kent Reliance are part of One Savings Bank, which is listed on the FTSE 250.

One Savings Bank has recently completed its merger with Charter Court Financial Services (which includes Charter Savings Bank) and now looks after combined savings balances of £16.3bn

Metro Bank
1.25% £1 / No maximum

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Branch
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  • Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs and Help to Buy ISAs

- This ISA is not flexible

- Additional permitted ISA subscriptions are not accepted

Partial withdrawals are not permitted but early closure is subject to loss of 180 days interest

Additions and transfers in are only allowed within 30 days of account opening

Metro has 74 branches across the UK and has been in operation since 2009.  It looks after £14.5bn of savings

Paragon Bank
1.00% £500 / £500,000

Branch
App
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Branch
App
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  • Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs

- Split ISA allowance

- This ISA is flexible

- Additional permitted ISA subscriptions are not accepted

Withdrawals are permitted subject to 180 days loss of interest

Additions are only allowed within 28 days of account opening

Birmingham based Paragon launched in 2014 and now look after over £6bn of savings

Shawbrook Bank
0.90% £1,000 / £250,000

Branch
App
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Telephone

Branch
App
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Post
Telephone

  • Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

- Transfers in accepted from: Cash ISAs, Stocks & Shares ISAs

- This ISA is not flexible and you are not able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual subscription limit in the tax year.

- Additional permitted ISA subscriptions are not accepted

Withdrawals allowed subject to the loss of 180 days of interest

Further additions allowed while product remains open

This is the best paying 2 Year ISA account in the market from Essex based Shawbrook, who launched in 2011 and look after over £6bn of deposits.

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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