ISA round up - 5th June
ISA rates have increased strongly again - with new leaders in every category, bar Lifetime ISAs, which we cover in this round up. Easy access rates are boosted by Virgin coming back in at 3.75% with their account and Shawbrook, UBL and Virgin lead the way on fixed. Teacher's Building Society have also taken notice accounts to 4%. 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. Virgin Money top the leader board having relaunched their easy access ISA paying 3.75%. Savers need to hold, or open, a Virgin current account to get this rate but its worth doing this for the rate. Charter Savings are second, having uppped their rate to 3.65% on Thursday night. Last week's leader, Cynergy Bank, drops to third at 3.62%, ahead of Principality Building Society at 3.57%, although the mutuals rate includes a 0.40% bonus for the year. There's a four way tie at 3.55% with Leeds and Chorley Building Societies alongside Gatehouse and Shawbrook banks. All rates are unrestricted bar Chorley's, which is limited to three withdrawals per calendar year. Ford Money pay 3.50% following their increase last week.
There's improvements at the top of Notice ISAs too with Teacher's Building Society leading the way paying 4% on 120 Day Notice and fellow mutual, Mansfield, increasing its 180 Day Notice rate to 3.75% (and its 90 Day to 3%). Skipton Building Society's 60 Day Notice is enough to hold third at 3.60%. Furness Building Society are next at 3.55% on their 45 Day Notice with Newcastle Building Society completing the top five at 3.40% for100 Days' Notice. However, everything below this is beaten by several easy access ISA rates so is not worthy of consideration.
Shawbrook have increased their ISA rate to 4.53% this morning to take top spot from UBL Bank, who had gone top on Friday at 4.52%. to move ahead of Shawbrook at 4.43%. Castle Trust are third at 4.51% with Paragon at 4.50% and Virgin at 4.47%. There's three providers at 4.45% with Charter Savings joined by Tesco Bank and United Trust Bank, who enter the 1 Year for the first time.
UBL Bank lead the way with the best rate in the market - 4.65% - alongside Close Brothers. They are clear of Virgin Money at 4.57%, who have been joined this morning by Shawbrook Bank. Charter Savings Bank increased to 4.55% on Thursday and were joined by United Trust Bank, who enter the 2 Year market for the first time.
Virgin Money lead the way paying 4.62% ahead of United Trust Bank, who move up to second paying 4.60% alongside Close Brothers. Shawbrook are up to fourth, with their increase to 4.58% this morning, with a drop to UBL Bank at 4.45%. Secure Trust Bank are next 4.35% with Aldermore Bank just behind at 4.30%. Hampshire Trust Bank pay 4.25%, as do Leeds and Principality Building Societies.
UBL Bank are the new leaders with a best buy 4.35%. United Trust Bank move up to second paying 4.30%, alongside Close Brothers, who also increased to the same rate last week. Shawbrook are up to fourth with their increase to 4.26% this morning, to move ahead of last week's leader Leeds Building Society at 4.25%. Long time leader, Gatehouse Bank, continue to pay 4.20% but are now down to sixth.
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 Skipton behind them at 2.55%, following their 0.25% rate rise last week. Paragon Bank and Newcastle Building Society are the laggards at 2.50%.