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Savings News

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Signs savings market is starting to stabilise but experts warn that rates may not continue to rise
Derin Clark

Derin Clark

Online Reporter
Published: 17/05/2021

It has taken 14 months since the pandemic began impacting the UK economy and the Bank of England cut base rate to a historic low of 0.1%, but there are signs that the savings market is starting to stabilise.

New data, which is due to be published in the Moneyfacts UK Savings Trends Treasury Report, has found that the number of savings products, including ISAs, available to consumers has increased for the first time since October 2020 with 1,406 available in May. Despite the increase, this is still lower than the number of savings accounts and ISAs available in October 2020, when there were 1,531 savings products in the charts.

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The best savings rates this week 14.05.21

Savers looking for the top rates will be pleased to see that new, higher rates, are now topping some of the charts. The notice account chart has particularly seen a number of new rates, with a new rate topping the chart overall. Savers looking to open these accounts are urged to act quickly as many providers are finding that their top-rate accounts are quickly reaching maximum funding levels resulting in them having to withdraw or reduce the rates being offered.

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The best ISA rates this week 13.05.21

Although there has been little change at the top of the ISA charts this week, savers will note that a new, slightly higher rate is now available at the top of the one year fixed ISA chart. As well as this, competition within the easy access ISA chart has increased this week, with two providers now offering the second-best rate of 0.41% AER.

Savers should note that the rates below are the best rates available at 12pm on Thursday 13 May 2021 and, although correct at the time of publishing, providers may reduce or withdraw rates at any time. As well as this, the rates highlighted are only those available to new customers, and as such there may be higher rates on ISAs available to existing customers only – to compare these ISAs, visit our ISA charts and, using the refine button, filter the results to show ISAs only available to existing customers.

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The best savings rates this week 07.05.21

Savers looking for high interest savings accounts will have to look towards the fixed rate bond chart, which offers the best UK savings rates overall this week. Savers considering a long-term fixed rate bond, however, should factor in the impact inflation may have on their deposits, especially if inflation rises as some experts predict in the coming months as we ease out of lockdown. An alternative option for savers could be a notice account, some of which offer higher rates than easy access accounts, but that also enable savers to access funds subject to a notice period being given.

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The best ISA rates this week 06.05.21

Savers looking to open a new ISA will find that there has not been a lot of movement at the top of the ISA charts this week. As such, all of last week’s top rates have remained available this week. Despite this, savers are urged to act quickly to secure the top rates to avoid missing out.

Savers should note that the rates below are the best rates available at 1pm on Thursday 6 May 2021 and, although correct at the time of publishing, providers may reduce or withdraw rates at any time. As well as this, the rates highlighted are only those available to new customers, and as such there may be higher rates on ISAs available to existing customers only – to compare these ISAs, visit our ISA charts and, using the refine button, filter the results to show ISAs only available to existing customers.

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Recent News

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BLME issues scam warning to consumers

6th May 2021

Bank of London and The Middle East (BLME) has warned consumers to be on alert for a scam attempt using a variation of the BLME logo and typeset

Bank of London and The Middle East (BLME) has warned consumers to be on alert for a scam attempt using a variation of the BLME logo and typeset

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Premium bond winners for May 2021 revealed

4th May 2021

The winners of the £1 million Premium Bond prize have been revealed, with thousands more scooping smaller prize money in this month’s draw

The winners of the £1 million Premium Bond prize have been revealed, with thousands more scooping smaller prize money in this month’s draw

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Savers should consider notice accounts to get better rates

4th May 2021

Savers wanting easy access to their funds will usually turn to an easy access savings account or ISA, but those who are able are being urged to consider notices accounts to get better rates

Savers wanting easy access to their funds will usually turn to an easy access savings account or ISA

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The best savings rates this week 30.04.21

30th April 2021

Savers looking for the best savings rate will once again have to consider a long-term fixed rate bond, however those thinking about opening a fixed account should keep in mind that if inflation rises, as expected over the coming months, it could result in the value of their funds being eroded in real terms

Savers looking for the best savings rate will once again have to consider a long-term fixed rate bond, however those thinking about opening a fixed account should keep in mind that if inflation rises, as expected over the coming months, it could result in the value of their funds being eroded in real terms

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Most Popular Savings News

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The best ISA rates this week 06.05.21

6th May 2021

Savers looking to open a new ISA will find that there has not been a lot of movement at the top of the ISA charts this week. As such, all of last week’s top rates have remained available this week

Savers looking to open a new ISA will find that there has not been a lot of movement at the top of the ISA charts this week. As such, all of last week’s top rates have remained available this week

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The best savings rates this week 07.05.21

7th May 2021

Savers looking for high interest savings accounts will have to look towards the fixed rate bond chart, which offers the best UK savings rates overall this week

Savers looking for high interest savings accounts will have to look towards the fixed rate bond chart, which offers the best UK savings rates overall this week

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Premium bond winners for May 2021 revealed

4th May 2021

The winners of the £1 million Premium Bond prize have been revealed, with thousands more scooping smaller prize money in this month’s draw

The winners of the £1 million Premium Bond prize have been revealed, with thousands more scooping smaller prize money in this month’s draw

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Will saving rates rise in the next 12 months?

11th March 2021

In the 12 months since the first UK lockdown was announced savings rates have fallen to historic lows, with many high street banks offering savers rates of just 0.01% on easy access accounts

In the 12 months since the first UK lockdown was announced savings rates have fallen to historic lows, with many high street banks offering savers rates of just 0.01% on easy access accounts

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