Savings News

Last updated: 13th May 2022 12:00pm

None of the market-leading providers this week share the top spot with their competitors.

Many of the marketing-leading rates on this week’s round-up have changed. The fixed-rate market, for one, has a completely new look with a complete set of new providers when compared to last week’s round-up. This, in part, can be attributed to the emergence of Swedish provider Ikano Bank, which offers the best rate on the two and three year fixed charts. On the easy access chart, Chase’s lead remains large, with Al Rayan Bank pipping Gatehouse Bank to second spot. In the notice account market, RCI Bank UK’s latest rate increase means its RCI Bank E-Volve Savings 14 Day Notice Account is clear of its competitors.

The ISA pays 1%, matching the market-leading rates of other restriction-free easy access ISAs.

Nationwide BS launched a new issue of its 1 Year Triple Access Online ISA today, offering a rate of 1%. It means this offer matches the market-leading rate from Marcus by Goldman Sachs®, SAGA, and Al Rayan Bank on our easy access ISA charts.

“Our new Triple Access Online ISA will offer a market-leading rate from a brand savers know and trust,” said Tom Riley, Director of Banking and Savings at Nationwide Building Society.

In March, Nationwide BS increased the rate on this product from 0.25% to 0.70%, but it was still some way behind the market-leading rate at the time.

The 1 Year Triple Access Online ISA’s rate improved to 0.80% in April before the increase today.

While this offer matches the other restriction-free easy access ISAs on the market, its rate is beaten by Bath BS’s and Suffolk Building Society’s restricted offers ISAs.

Bath BS’s Instant ISA pays a rate of 1.09% but it is only available to existing members and those who can prove they either live, work, or study in Bath.

Suffolk Building Society’s Stepping Stone ISA, which pays a rate of 1.30%, has similar restrictions. It is only available to existing members, those aged between 16 and 20, and living in certain postcode areas.

Last updated: 12th May 2022 at 12:00pm 

New providers end Shawbrook Bank’s hold on the fixed rate market.

Rates across the ISA market continue to edge upwards, with a host of new providers now offering market-leading rates. The fixed rate ISA market saw the most volatility in the past week, with several new providers overtaking Shawbrook Bank to provide new market-leading rates. Meanwhile, the easy access chart saw Tesco Bank shoot into second place with its Instant Access Cash ISA now offering a rate of 0.95%.

Last updated: 12th May 2022

The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market. These can range from mortgages to savings accounts. This week, I have analysed the following deals, along with their perks, of note: