Savings News

Leeds Building Society was commended for High Street Savings Provider of the Year at the Moneyfacts Consumer Awards 2021.

Analysts at Moneyfacts reviewed the savings products of different financial providers in the high street to create a shortlist. These then went forward to a public vote to decide the winners, highly commended and commended brands.

This week we reported that over half of savings are being held in easy access savings accounts, mainly due to savers wanting to easily access their funds due to the economic uncertainty caused by the pandemic. Savers looking for an easy access savings account will be disappointed to see that the top rate currently being offered in our charts is below the current inflation rate of 0.7%, so they may want to consider a more competitive notice account or even a one year bond instead.

ISA season is only weeks away but savers hoping to start seeing rates increase will be disappointed with data released this week, which found that ISA rates remain at record lows. There were no changes at the top of the ISA charts this week and, as a result, savers looking to lock into a fixed rate ISA will find that the top rate currently stands at 1.30% AER, while those looking for an easy access ISA can get the best rate of 0.60% AER.

Savers should also note that the rates below are the best rates available at 12.30pm on Thursday 18 February 2021 and, although correct at the time of publishing, they may not be available after this time.

Charter Savings Bank won the Online Savings Provider of the Year and ISA Provider of the Year awards at the Moneyfacts Consumer Awards 2021.

Analysts at Moneyfacts reviewed the savings and ISA products of different financial providers to create a shortlist. These then went forward to a public vote to decide the winners, highly commended and commended brands.

Michelle Monck, Head of Digital, Moneyfacts.co.uk, said:
“Charter Savings Bank offered competitively priced savings accounts during the year to its existing and new customers. Its ISA range also remained competitive during the year.”

Paul Whitlock, Group Managing Director, Savings, said: “We’re grateful for the feedback we receive from our customers, which helps us to ensure the very best customer experience. These awards further cement the hard work undertaken within the organisation to achieve this and are a real vote of confidence that our customers appreciate and recognise our efforts. Thank you to everyone who voted for us.”