For those looking for a straightforward easy access account or cash ISA, Shawbrook is the latest provider to make improvements
With many of the top-paying easy access accounts at the moment featuring different terms and conditions to be aware of, those looking for a more straightforward option sometimes have to dig a little deeper into the best buys.
There are a number of providers that offer savers a simple option when it comes to easy access accounts and the latest to offer the top rate is Shawbrook Bank, with a new version of its easy access account and easy access cash ISA that are out today.
The new version of its easy access account is paying 1.43% gross/AER and can be opened online with a minimum of £1,000.
To put this rate in context, it is worth running through some of the best rates in the easy access market at the moment.
ICICI Bank UK leads the way, paying 1.54% gross/1.55% AER, although the rate includes a 0.30% bonus for the first 12 months, so you may need to review your position after a year.
Next up is The Family Building Society, with its Premium Saver paying 1.51% gross/AER. The account does have a funding cut-off date of 8 March 2019, after which you cannot add further funds to the account.
Then comes Cynergy Bank and Marcus by Goldman Sachs, with both pay 1.50% and feature introductory bonuses as part of the rates.
So, with a number of introductory bonuses and other terms and conditions evident amongst many of the top-paying accounts, Shawbrook offers something a little more straightforward – albeit at a lower rate.
Paying the same rate as the standard easy access account is the new version of the provider’s easy access cash ISA – 1.43% tax free/AER – which again can be opened online with a minimum of £1,000.
This rate compares even more favourably with the top options currently available.
Leading the way is Virgin Money’s Double Take E-ISA, which is paying 1.45% tax free/AER, but you are restricted to just two withdrawals per year.
So, for those looking for easy access to their ISA funds, the new Shawbrook account is not far behind and is more flexible in terms of withdrawals.
It’s always encouraging to see improved rates launched in the easy access market, which is key for the vast majority of savers. An added benefit is that these accounts are straightforward as well as competitive, so will be attractive for a number of savers.
If you need any further help with finding the accounts that are most suitable for your needs, please call us on 0800 011 9705 to speak to one of our expert savings specialists.
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