Cash ISAs: The Best Currently Available List

Growingold

Shawbrook and Aldermore 5.25% 5 year FR ISA's

Key Differences

Withdrawal penalty:

Aldermore 180 days

Shawbrook 360 days

Funding:-

Aldermore Deposits and ISA Transfer forms within 14 days of account opening.

Shawbrook No restrictions on deposits but ISA transfers requests have to be made at time of opening.

So which one is better is down to each individuals circumstances. Whether one might need access with no further deposits (lesser penalty) or a bigger penalty for withdrawal but no limit on additional deposits.

rallycurve

I believe deposits into Shawbrook ISA must be within the first 90 days?

Growingold

https://forums.moneysavingexpert.com/discussion/comment/82182288#Comment_82182288

The first funding deposit must be within 90 days else it will be closed. Deposits after this date a bit of a grey area. Moneyfacts says unlimited additional deposits. I have in the past added to a FR ISA with them after a year into the term to round up interest received to a round figure in my ISA.

I have sent a message to them to clarify if there is a restriction ie time limit for funding with additional deposits

rallycurve

I have also used their unlimited additional deposits in the past but I can't see that option in the t&c now so presumably they've removed it? It only says 90 days now

soulsaver

Done to near death on here, but for newbs to the issue-

Shawbrook 5 year fixed rate cash ISA

The general terms refer you to the Key Product Info for the actual account. The KPI's terms (09/2026) still states, as it has for years, bullet #3:

'Please note that the Bank reserves the right to withdraw this product at any time. If the product is withdrawn, you can continue to put more money into your account until the expiry of the fixed term.'

Note well that doesn't say 'Transfer…' so, if allowed at all, it's likely to be annual allowance only.

I'm aware that it's been reported that they don't now allow ANY additions - but, as others said, I've been able to add substantial transfers-in, however, the last was a few years ago.

In case rates dropped, in 25/26 I opened (with ££ min) a 3 year FTB at 4.38% - but 26/27 saw HSBC 4.5 fix + tiered incentive get 5.25% equivalent for £20k.

So their earlier fixed rates haven't remained good enough to warrant an argument.

Growingold

Shawbrook 5 yr FR ISA

Further to my previous post I've now had a reply back from Shawbrook as below:-

'Regarding your 5 Year Fixed Rate Cash ISA Bond Issue 67, you can fund the account through the ISA transfer-in process within 14 days of opening the account.

Please note that you must make an initial deposit within the 90-day funding window. Once the account has received its initial funding within this period, you can continue to add funds until maturity, subject to your remaining ISA allowance for the current tax year'

soulsaver

@Growingold I'm guessing that's a secure message?

If I was going to rely on it for 5 years, I'd want it in writing personally, too.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82183545#Comment_82183545

…and when they decide after 2 years that they are changing the terms to no longer accept funding because of "improvements"?

savit4l8er

I was hoping Virgin would launch a new rate, the current 1 yr F/R, issue 708 showing as an option signed in matures 24 Oct 27 so it's not even a year.

From what I have seen, they usually update when it gets to this stage although I appreciate they do no have to and no doubt similar has happened before when I have not been keenly watching. We will see.

soulsaver

https://forums.moneysavingexpert.com/discussion/comment/82183794#Comment_82183794

I'd progress a complaint supported by my written evidence to the ombudsman if necessary - assuming the SB FTB rate was better than I could get elsewhere - hence my latter comments.