New £20,000 Isa allowance – where to find the best savings rates


New banks and building societies continue to tweak their rates.  They are launching easy-access accounts which pay top rates but are only on sale for a short time. The latest comes from Nottingham Building Society with its online ESaver Instant 8 paying 1.25 per cent.  

The best rate comes from RCI Bank Freedom account at 1.3 per cent, while Shawbrook Bank pays 1.2 per cent. Virgin Money Double Take eSaver pays a slightly higher 1.36 per cent, but you are limited to making two withdrawals a year on this account rather than having the freedom to take money out whenever you need to. 

On fixed rate bonds, Atom pays a top 1.85 per cent for one year, with online Charter Savings Bank just behind with 1.81 per cent.  For two years you can earn 2.06 per cent with Secure Trust Bank. 

The top easy-access cash Isa comes from Shawbrook Bank at 1.1 per cent. Meanwhile, on fixed rate cash Isas, Virgin Money has upped its one-year rate to a top 1.41 per cent while Charter Bank at 1.72 per cent pays the top two-year rate. 

How to beat inflation

To beat inflation, currently running at 3 per cent, compromises need to be made as all of the small number of regular savings accounts that pay more than inflation require savers to have a current account with the provider. Our sister publication Moneywise regularly keeps tabs on the savings market and has found there are six accounts that currently beat inflation.

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