Savings News

During the week Cynergy Bank increased the rate and changed the issue number on its easy access savings account, so it now pays the top rate of 0.66% AER in the easy access savings chart. As well as this, JN Bank increased the rate on its five year fixed bond and QIB (UK) launched a five year fixed bond, both of which now pay the joint-top fixed bond rate.

Despite average rates on easy access savings accounts increasing month-on-month, savers with the biggest four high street banks may still find they are earning just 0.01% AER on their savings.

Of the 48 easy access savings accounts that pay 0.01% or less, 36 are high street banks and among these are the top four biggest banks – Lloyds, HSBC, Barclays and NatWest. Meanwhile, all the top 10 highest paying easy accounts in our chart open to new and existing customers come from either challenger banks or building societies – with six accounts from challenger banks.

In the easy access ISA chart this week Cynergy Bank changed the issue number and increased the rate on its easy access ISA, resulting in it paying the top rate in this chart of 0.65% AER. Although there was no change at the top of the fixed rate ISA charts, further down the chart Paragon Bank increased the rate on its one, two, three and five year fixed rate ISAs, resulting in it now paying 0.86% AER, 1.06% AER, 1.16% AER and 1.31% AER respectively on these ISAs.

Below we’ve highlighted the top rates currently available in our comparison charts, but savers should note that these are the best rates available at 2pmon Thursday 14 October 2021 and, although correct at the time of publishing, providers may reduce or withdraw rates at any time. In addition, the rates highlighted are available only to new customers.

Competition within the easy access savings chart remains strong this week, with Leeds Building Society increasing the rate on one of its easy access accounts so that it now pays the joint second-best rate in the chart. This means eight accounts now pay the second-best easy access rate of 0.60% AER, while two accounts pay the top rate of 0.65% AER.