Savings update: Shawbrook raises top-paying cash Isa rate

Flying piggy bank

Shawbrook Bank has raised the rate it pays on its one-year fixed rate cash Isa to 1.5%.

The next best deal comes from Co-op Bank with its Britannia Fixed Rate cash Isa at 1.4%. For two years Shawbrook pays a top 1.6% and Co-op Bank 1.5%.

The rates are marginally ahead of the 1.3% best easy-access cash Isa rate from Coventry BS and Sainsbury's Bank. You can transfer your existing cash Isas to all these accounts bar the Coventry Easy Access Isa.


On taxable accounts the top rate on easy-access accounts at 1.45% before tax (1.16% after tax) comes from French-owned RCI Bank while Shawbrook Bank pays 1.25% (1%). Both accounts are only available online.

Other top deals

On the high street National Counties Building Society pays 1.26% (1.01%) and Coventry BS 1.15% (0.92%).

On taxable fixed-rate bonds, the best one-year deal comes from RCI Bank at 1.65% (1.32%). Charter Savings Bank and Swedish-owned Ikano Bank both pay 1.6% (1.28%).

Tesco Bank has raised its two-year deal to 1.8% (1.44%), just behind the top 1.9% (1.52%) from RCI Bank.

This article was originally written for our sister publication, Money Observer.

More about