Cash ISAs: The Best Currently Available List

rallycurve

Shawbrook increases its 1 year fixed rate from 3.65% to 3.78%

SickGroove

Hoping Shawbrook increase their 3.95% 2 year fix rate too

SnowMan

Cumberland has overnight reduced it's rates on its 1 year and 2 year fixed term ISA accounts. Available only to those in the local area.

1 year down from 4.25% AER to 3.7% AER and 2 year down from 4.75% AER to 4.2% AER.

https://www.cumberland.co.uk/savings/isa

It appears that Cumberland are honouring the rate for those who had specifically arranged a telephone appointment to open this account prior to its closure. Perhaps others can confirm this

(edited as Cumberland are being very reasonable and honouring the rate, I shouldn't have assumed they wouldn't) 

savit4l8er

Virgin are back with a 2 yr fix @ 4.22% (up from 3.5 % I think it was last). They have only had the 2 year over recent days but have now launched a 1 year @ 3.61% as well.  Transfers in from elsewhere seem quick, 3 days in my experience.  However, there have been delays and problems with their response to messages as reported by posters on here. 

Ocelot

savit4l8er said:

Ocelot said:

Have initiated the transfer of 2 more low-paying ISAs to the YBS 4.4% one, and they still seem to have allowed me to initiate the process.

Thank you for the update. 

They have texted me saying the process is underway, so, whether they have any issues or not, you can still definitely transfer in.

pecunianonolet

Charter 1y fix ISA for 3.78% NLA

Cynergy Bank Fixed Rate Cash ISA - 3.80%
Minimum deposit: £500.
Notes: Fixed for one years from account opening.
Loyalty rate available if you have been an existing Cynergy bank customers for six months or more.

--> Dropped to 3.4% or 3.5% with loyalty bonus

isasmurf

Coventry Triple Access ISA no longer available

Sainsburys Bank ISA increased to 2.4%
Coventry Easy Access ISA increased to 2.35%
First Direct ISA increased to 2.3% (must have FD current account) 

nomorekids

Anyone with experience of SBI? How easy was it to open? Just wondering why SBI isn't on the list of best available ISAs on the moneysavingexpert main page? Have they FCSC £85000 UK protection?

bristolleedsfan

nomorekids said:

Anyone with experience of SBI? How easy was it to open? Just wondering why SBI isn't on the list of best available ISAs on the moneysavingexpert main page? Have they FCSC £85000 UK protection?

2016 I opened 5 year ISA by post, now it states branch only .....

refluxer

nomorekids said:

Anyone with experience of SBI? How easy was it to open? Just wondering why SBI isn't on the list of best available ISAs on the moneysavingexpert main page? Have they FCSC £85000 UK protection?

I don't have an account with SBI, but did look into them recently. One negative is that you have to open a current or savings account alongside the ISA, which involves posting off application forms, proof of ID/address documents and proof of income. As their savings account only offers a maximum 1.20% interest rate and I don't want another current account, I decided SBI Cash ISAs weren't suitable for me.

They also have an unusual way of penalising early withdrawals or transfers from their fixed rate ISAs...

• NO interest will be paid if the account is closed before the first year of anniversary. For example, if the deposit is withdrawn or transferred after 9 months, only Principal will be paid i.e. with no interest.
  If the account is closed on or after the first year of anniversary, but before the end of the agreed term, interest will be paid at 1% less than the applicable rate of interest for the entire period the deposit is held with the bank. For example, if the interest rate was 2.1% AER for 3 years and if the deposit is withdrawn or transferred after 2 years, an effective interest rate of 1.1% will be paid for the entire 2 years the deposit is held with the bank.

If early withdrawals are a possibility (ie. you like to chase the best rates), then you'd have to do the maths to work out whether the 1% reduction in rate for the whole duration is any better or worse than the 180 / 270 / 365 day penalties commonly applied by most other banks. They also require 30 days notice for a withdrawal or transfer, which I've not seen before and would presumably complicate the transfer process.