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Best savings rates

Best savings rates

Category: Savings

Updated: 25/10/2016
First Published: 25/10/2016

Savings rates may be suffering at the moment, but there are still some good deals out there. We're here to help you find them, so read on for a roundup of the top savings accounts for all needs – easy access, fixed bonds or cash ISAs, they're all here for the taking! They're the cream of the savings crop with the best savings rates available, so let's get started…

Fixed rate bonds – all terms

Fixed bond rates have taken a hammering recently, but as the list below shows, you've still got plenty of options! All the accounts covered are the market-leading rates for their respective terms, so whether you want to tie up your money for five years or one, you can be sure you're getting the best deal possible.


AER


Details

Secure Trust Bank
Fixed Rate Bond 5 Year Term (Series 28)


2.01% AER

  • Rate fixed to 22.11.21
  • Minimum investment of £1,000
  • Further additions permitted while issue remains open
  • No withdrawals
  • Account must be opened online then managed by post or phone
  • Interest paid yearly



AER


Details

Vanquis Bank
Vanquis Bank Savings


1.85% AER

  • Four-year bond
  • Minimum investment of £1,000
  • No further additions or withdrawals
  • Internet-operated
  • Interest paid yearly


AER


Details

Milestone Savings
Fixed Term Deposit


1.62% AER

  • Three-year bond
  • Minimum investment of £10,000
  • No further additions or withdrawals
  • Account must be opened online and can then be managed in the same way as well as by post and phone
  • Interest paid on anniversary
  • Sharia'a compliant account (rate displayed is the expected profit rate)


AER


Details

Atom Bank
2 Year Fixed Saver




1.65% AER

  • Two-year bond
  • Minimum investment of £50
  • Further additions permitted for one week after account opening
  • No withdrawals
  • Account must be opened and operated by mobile app
  • Interest paid on anniversary


AER


Details

Atom Bank
1 Year Fixed Saver


1.40% AER

  • One-year bond
  • Minimum investment of £50
  • Further additions permitted for one week after account opening
  • No withdrawals
  • Account must be opened and operated by mobile app
  • Interest paid on maturity

Fixed rate cash ISAs

Cash ISAs are still holding their own in the savings market, and although their rates may look lacklustre, having this kind of account is still highly recommended as it allows you to keep your funds away from the tax man for life.


AER


Details

Metro Bank
5 Year Fixed Rate Cash ISA Issue 4


1.50% AER

  • Rate fixed for five years
  • Minimum investment of £1
  • Transfers in of previous years' ISA savings permitted within 30 days of account opening
  • No further additions or withdrawals
  • Earlier access on closure and 180 days' loss of interest
  • Transfers out on 180-day loss
  • Account must be opened in branch by new customers, although existing members can also open an account online, by phone or by post. Account then becomes branch and phone-operated
  • Interest paid yearly and must be compounded
  • Access via nominated account


AER


Details

Hodge Bank
4 Year Fixed ISA





1.30% AER

  • Rate fixed for four years
  • Minimum investment of £5,000
  • Transfers in permitted (min. £5,000)
  • No further additions or withdrawals
  • Earlier access and transfers out on closure and a penalty fee
  • Account can be opened and operated in branch, by phone or by post
  • Interest paid yearly and must be compounded


AER


Details

Paragon Bank
3 Year Fixed Rate Cash ISA



1.25% AER

  • Rate fixed for three years
  • Minimum investment of £500
  • Transfers in and further additions (for 15 days) permitted
  • Earlier access and transfers out on 270 days' loss of interest
  • Internet-operated
  • Interest paid on anniversary


AER


Details

Bank of Cyprus UK
Fixed Rate Cash ISA



1.15% AER

  • Rate fixed for two years
  • Minimum investment of £500
  • Transfers in and further additions permitted
  • Earlier access and transfers out on closure and 180 days' loss of interest
  • Account must be opened online, and can then managed in the same way as well as by post, phone and in branch
  • Interest paid on anniversary


AER


Details

Al Rayan Bank
12 Month Fixed Term Cash ISA


1.35% AER

  • Rate fixed for 12 months
  • Minimum investment of £1,000
  • Transfers in and further additions for up to 30 days after account opening
  • No withdrawals
  • Transfers out will result in a reduced profit rate for up to 90 days
  • Account can be managed via all channels
  • Interest paid on maturity
  • Sharia'a compliant account (rate displayed is the expected profit rate)

Easy access account

Want a great rate without locking away your cash? This is the market-leader in the easy access sector, sitting proudly at the top of the charts.



AER


Details

ICICI Bank UK

SuperSaver Savings Account

1.15% AER

  • Minimum investment of £1
  • No notice account
  • Variable rate
  • Further additions and withdrawals allowed at any time (withdrawals via linked ICICI Bank current account only)
  • Account must be opened in branch before becoming branch, phone, internet and mobile app operated
  • Linked product – available to new and existing ICICI Bank current account customers only
  • Interest paid monthly and must be compounded

Notice account

If you're willing to give a bit of notice to access your cash you could secure an even better rate, and this is the best one available!


AER


Details

Al Rayan Bank

120 Day Notice

1.51% AER

  • Minimum investment of £250
  • Further additions allowed at any time
  • Withdrawals permitted subject to 120 days' notice being given
  • No earlier access
  • Account can be managed online, in branch, by post, by phone and by smartphone app
  • Interest is paid monthly (must be compounded)
  • Sharia'a compliant account (rate displayed is the expected profit rate)

Variable rate ISAs

The following two accounts sit firmly at the top of the variable rate ISA chart, being true market-leaders in their respective sectors. The first asks you to give a bit of notice to access your funds, but the second boasts instant access, no notice required!


AER


Details

Al Rayan Bank
Notice Cash ISA


1.55% AER

  • 120-day notice account
  • Minimum investment of £250
  • Transfers in and further additions allowed
  • Withdrawals permitted subject to 120 days' notice (no earlier access)
  • Transfers out on 120 days' notice or loss of interest
  • Account can be managed in branch, by post, by phone, online and by smartphone app
  • Interest paid monthly and must be compounded
  • Sharia'a compliant account (rate displayed is the expected profit rate)



AER


Details

Coventry BS
Easy Access ISA (4)


1.10% AER

  • Instant access account
  • £1 minimum deposit
  • Further additions permitted
  • Transfers in accepted from the current tax year (cash ISAs only)
  • Unlimited withdrawals and no penalty for transfers out
  • Account can be managed in branch, by post, by phone and online
  • Interest paid yearly

Information & rates correct as at: 25.10.2016


What next?


Search for the
top savings accounts
and cash ISAs

Check out the best fixed rate bonds


Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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