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The best savings rates this week 02.12.21
Derin Clark

Derin Clark

Online Reporter
Published: 02/12/2021

This week saw a number of banks increase their savings rates, notably Investec Bank plc raising the rate on its easy access savings account, which now pays the second-best rate in this chart. Meanwhile, in the fixed bond chart, Hodge Bank has increased the rate on its five-year bond, which now pays the top bond rate of 2.08% AER, and earlier in the week United Trust Bank increased the rates on a range of bonds with its three and two year accounts now topping these charts.

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Highest easy access savings rate in over 12 months

Competition at the top of the easy access savings chart is increasing, with the top rate rising by 0.08% in just a few weeks.

At the beginning of the month the top easy access savings account rate stood at 0.67% AER, whereas now savers can earn 0.75% AER on Aldermore’s Double Access Account Issue 1.

This account requires a £1,000 minimum deposit but does come with the catch of savers only being allowed to make two withdrawals per annum, with a lower interest rate being paid if more are made.

The next two best rates in this chart have also increased over the last few weeks. From today, Investec Bank plc pays 0.71% AER on its Online Flexi Saver, which requires a £5,000 minimum deposit to open and allows unlimited withdrawals.

Meanwhile, Cynergy Bank pays 0.70% AER on its Online Easy Access Account (Issue 43), which includes a 0.40% bonus for 12 months. A minimum deposit of just £1 is needed to open this account and unlimited withdrawals can be made via a nominated account.

As well as this, at the beginning of the week the average easy access savings rate increased from 0.19% to 0.20%, the highest it has stood in 12 months with it lasting standing at 0.20% on 30 November 2020.

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The best savings rates this week 25.11.21

Cynergy Bank caught many savers’ attention this week when it increased the rate on its easy access savings account to now top the chart with a rate of 0.70% AER. This is one of the highest easy access savings rates that has been available for 12 months and may be a sign that more competitive rates may start to become available in this chart. There were also positive signs in the fixed rate bond charts this week with new higher rates now available on both three and one year fixed rate bonds.

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Top easy access savings rate increases to 0.70% AER

In a year that has seen average easy access savings rates fall to their lowest levels on record, Cynergy Bank’s rate rise on its account this week has caught many savers’ attention, offering a chart-topping 0.70% AER.

Cynergy Bank pays 0.70% AER, which includes a 0.40% bonus for 12 months, on its Online Easy Access Account (Issue 43). This is 0.20% higher than the top easy access savings account rate that was available six months ago, when the top rate stood at 0.50% AER on 28 May 2021, which was offered by Atom Bank, ICICI Bank UK and Virgin Money.

Although the increase in the top easy access savings rate may be welcomed by savers, a year ago they could get a higher rate in the chart. On 27 November 2020 the top rate stood at 0.75% AER, which was available from ICICI Bank UK.

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The best savings rates this week 19.11.21

A number of banks and building societies have increased rates on their savings accounts this week. Notably Zenith Bank (UK) Ltd increased the rate on its one and three year fixed rate bonds, resulting in the three year version now one of four accounts paying the top rate in this chart. Masthaven Bank also increased the rate on its one year fixed rate bond during the week, resulting in it being among five accounts paying the top one year bond rate.

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Recent News

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NS&I increases Income Bonds rate

18th November 2021

National Savings & Investments (NS&I) has increased the rate on its popular Income Bonds today, but the new rate is still significantly lower than the top accounts in the easy access savings charts

National Savings & Investments (NS&I) has increased the rate on its popular Income Bonds today

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The best ISA rates this week 18.11.21

18th November 2021

On Monday West Brom Building Society increased the rates on its fixed ISAs and launched a range of online-only versions resulting in it now paying the top rates across the fixed ISA charts

On Monday West Brom Building Society increased the rates on its fixed ISAs and launched a range of online-only versions resulting in it now paying the top rates across the fixed ISA charts

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RCI Bank UK to finance electric vehicles technology with new notice account

17th November 2021

RCI Bank UK has launched a 14 day notice account that will use all deposits to finance electric vehicles, the charging infrastructure needed to support the vehicles and future green transportation projects

RCI Bank UK has launched a 14 day notice account that will use all deposits to finance electric vehicles

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Inflation rises to 4.2%

17th November 2021

Inflation increased to 4.2% during October, which is its highest rate in almost a decade, adding pressure on the Bank of England to increase base rate to help control the rising cost of living

Inflation increased to 4.2% during October, which is its highest rate in almost a decade, adding pressure on the Bank of England to increase base rate to help control the rising cost of living

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Most Popular Savings News

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The best savings rates this week 25.11.21

25th November 2021

Cynergy Bank caught many savers’ attention this week when it increased the rate on its easy access savings account to now top the chart with a rate of 0.70% AER

Cynergy Bank caught many savers’ attention this week when it increased the rate on its easy access savings account to now top the chart with a rate of 0.70% AER

Read More
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NS&I increases Income Bonds rate

18th November 2021

National Savings & Investments (NS&I) has increased the rate on its popular Income Bonds today, but the new rate is still significantly lower than the top accounts in the easy access savings charts

National Savings & Investments (NS&I) has increased the rate on its popular Income Bonds today

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Highest easy access savings rate in over 12 months

1st December 2021

Competition at the top of the easy access savings chart is increasing, with the top rate rising by 0.08% in just a few weeks

Competition at the top of the easy access savings chart is increasing, with the top rate rising by 0.08% in just a few weeks

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Top easy access savings rate increases to 0.70% AER

24th November 2021

In a year that has seen average easy access savings rates fall to their lowest levels on record, Cynergy Bank’s rate rise on its account this week has caught many savers’ attention, offering a chart-topping 0.70% AER

In a year that has seen average easy access savings rates fall to their lowest levels on record, Cynergy Bank’s rate rise on its account this week has caught many savers’ attention

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