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The best ISA rates this week 29.07.21
Derin Clark

Derin Clark

Online Reporter
Published: 29/07/2021

Earlier in the week, United Trust Bank increased the rates on a range of its fixed rate ISAs, resulting in its seven year ISA topping the fixed rate ISA chart. Meanwhile, today Cynergy Bank removed the opening restriction on its easy access ISA, which means that it now offers the top rate on an easy access ISA available to new customers.

Savers should note that the rates below are the best rates available at 12pm on Thursday 29 July 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.

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Summer savings review: what has happened to savings rates since the start of 2021?

With rising inflation and savings rates hitting historic lows, the first seven months of 2021 has been a challenging time for savers. Saying this, 2021 is providing some optimism for savers as rates started to stabilise at the end of spring and have started to rise over the summer.

Average rates often give a good overview of what is happening in the savings market. At the start of the year, the average rate on easy access savings accounts stood at 0.18%. This fell to 0.17% in February and fell further to a historic low of 0.16% in March and remained at this rate until June. Since then, the average rate has increased slightly to stand at 0.17% in July.

Similarly, the average one year fixed bond and longer-term fixed bond rates reached historic lows earlier this year. At the start of 2021, the average one year fixed bond rate stood at 0.49% and fell to 0.46% in February. The rate continued to fall until it reached a historic low of 0.42% in April but started to rise again the next month to stand at 0.44% in May. The average rate continued to rise to stand at 0.52% in July.

Again, the average longer-term fixed bond rates reached a record low this year when it fell to 0.65% in March, where it remained in April. The average longer-term fixed bond rate stood at 0.70% in January but consistently fell in subsequent months until it reached the record low. After April the average rate began to rise, resulting in it standing at 0.77% in July.

Average rates, however, only tell part of the story as higher than average rates are available to savers. This means that to get a clearer idea of what has been happening in the savings charts this year, we’ve also compared the top rates available in January to the top saving rates currently available in the charts.

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Moneyfacts Weekly Product News – 29.07.21

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

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The best savings rates this week 23.07.21

Banks and building societies have continued to launch new savings accounts and increase rates this week, most notably Coventry Building Society which now tops the easy access savings chart with its recently launched Limited Access Saver (Online) (5). Meanwhile, JN Bank increased the rate on its five year fixed bond today, resulting in it topping the fixed rate bond chart.

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The best ISA rates this week 22.07.21

Changes within the ISA charts have slowed down this week, but providers have continued to raise rates which has resulted in new higher rates being available in both the two and one year fixed ISA charts. As well as this, competition at the top of the easy access ISA chart has increased with five ISAs now offering the top rate in this chart.

Savers should note that the rates below are the best rates available at 12pm on Thursday 22 July 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.

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Moneyfacts Weekly Product News – 22.07.21

22nd July 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

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Glimmer of saving recovery as rates see slight rise

19th July 2021

Average saving rates across all charts except notice ISAs have increased month-on-month, with challenger banks boosting competition within the savings market

Average saving rates across all charts except notice ISAs have increased month-on-month, with challenger banks boosting competition within the savings market

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The best savings rates this week 16.07.21

16th July 2021

Competition at the top of the easy access savings account chart increased this week with Leeds Building Society relaunching its Double Access Saver, resulting in 10 accounts now paying the top easy access saving rate

Competition at the top of the easy access savings account chart increased this week with Leeds Building Society relaunching its

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The best ISA rates this week 15.07.21

15th July 2021

Savers looking for an easy access cash ISA will be disappointed to see that last week’s top rate is no longer available, however more ISAs are now offering 0.50% AER

Savers looking for an easy access cash ISA will be disappointed to see that last week’s top rate is no longer available

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Most Popular Savings News

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The best savings rates this week 23.07.21

23rd July 2021

Banks and building societies have continued to launch new savings accounts and increase rates this week, most notably Coventry Building Society which now tops the easy access savings chart with its recently launched Limited Access Saver (Online) (5)

Banks and building societies have continued to launch new savings accounts and increase rates this week, most notably Coventry Building Society

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Glimmer of saving recovery as rates see slight rise

19th July 2021

Average saving rates across all charts except notice ISAs have increased month-on-month, with challenger banks boosting competition within the savings market

Average saving rates across all charts except notice ISAs have increased month-on-month, with challenger banks boosting competition within the savings market

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The best ISA rates this week 22.07.21

22nd July 2021

Changes within the ISA charts have slowed down this week, but providers have continued to raise rates which has resulted in new higher rates being available in both the two and one year fixed ISA charts

Changes within the ISA charts have slowed down this week.

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Moneyfacts Weekly Product News – 22.07.21

22nd July 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

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