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Average rates for notice savings accounts have increased to their highest levels in 2021 so far at 0.54%, an increase of 0.36% compared to the lowest average rate recorded in May 2021. The very best notice account rate of 1.10% gross is now more than double than that available in April this year at 0.52% gross.
Savers thinking about which type of savings account to choose will see that the very best rates continue to be from fixed rate bonds. The top 18-month fixed rate is 1.60% gross (expected profit rate) and the top 12-month fixed rate bond is 1.45% gross (expected profit rate). Savers need to consider if restricted access to their funds for 12 or 18 months is worth the greater rate of interest compared to waiting 95 days with the top notice account paying 1.10% gross.
Not only are notice account rates on the rise, but the number of these available has also increased. This increased competition is being driven largely by the challenger banks, with these holding all the top rates across fixed rates and notice accounts.
Use our charts to compare rates of different savigns accounts including:
There are also ISAs available to compare.
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Each week the moneyfacts.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market. Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfacts.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Each week the moneyfacts.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
Each week the moneyfacts.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market. Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfacts.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
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