Ford Money has increased its two and three year fixed rate cash ISAs by 0.10% today. The rate increase means the Fixed Cash ISA 2 Year and the Fixed Cash ISA 3 Year now offer a rate of 1.70% and 1.75% respectively.
This week saw slower movement across the ISA market, with few banks and building societies making changes. Coventry BS reduced the rate on its five year fixed ISA, however the rate remains competitive, paying 1.50% AER.
This week United Trust Bank topped the fixed rate ISA chart overall with its ISA 7 Year Bond paying 1.10% gross on anniversary. This ISA requires a £15,000 minimum deposit to open. Earlier access is permitted but subject to a penalty. Transfers in are accepted. The ISA must be opened by post but can then be managed online, by post and by phone.
Three ISAs paid the top five year fixed ISA rate this week. Gatehouse Bank pays an expected profit rate of 1.00% gross on anniversary on its 5 Year Fixed Term Green Cash ISA, which requires a £1,000 minimum deposit to open. This ISA allows earlier access subject to 365 days’ loss of interest. Transfers in are accepted. The ISA benefits from the incentive of Gatehouse Bank planting a tree in a UK woodland when an account is opened and funded, and the trees are planted in UK woodland projects certified by the UK Government’s Woodland Carbon Code. The ISA can only be opened and managed online. Skipton Building Society pays 1.00% gross