The Best Savings Rates This Week 02 07 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 02/07/2021

This week saw a number of providers increase their saving rates, including UBL UK which increased the rates on its seven, five and three year fixed rate bonds resulting in these accounts topping their respective charts. As well as this, Marcus by Goldman Sachs® added a bonus to its easy access account this week and now offers a joint chart-topping easy access rate as a result.

Savers should be aware that the accounts highlighted below are the top-paying accounts available to new customers and higher rates may be available to existing customers only. Savers can compare the best savings rates available to existing customers by visiting our savings charts and selecting these accounts in the refine search section.

The best fixed rate bonds savings rates

 

Provider

Account

Term

Rate AER

 

UBL UK

5 Year Fixed Term Deposit

Five years

1.66%

Go to provider’s site

UBL UK

3 Year Fixed Term Deposit

Three years

1.31%

Go to provider’s site

Gatehouse Bank

Fixed Term Green Saver

Two years

1.20% (expected profit rate)

Find out more

Gatehouse Bank

Fixed Term Green Saver

One year

1.10% (expected profit rate)

Find out more

 

The top rate in the fixed bond saving chart this week came from UBL UK with its 5 Year Fixed Term Deposit account paying 1.66% gross on anniversary, but there is also a version of this account that pays a higher rate of 1.72% gross on maturity and a lower rate of 1.65% gross monthly. As well as this, UBL UK’s 3 Year Fixed Term Deposit account topped the three year fixed bond chart paying 1.31% gross on anniversary, again there is a version of this account that pays a higher rate of 1.33% gross on maturity and a version paying a lower rate of 1.30% gross monthly. All versions require a £2,000 minimum deposit to open. They can be opened online, in branch, by post or via mobile app and then managed online, in branch, by post, by phone and via mobile app.

Gatehouse Bank topped both the two and one year fixed rate bond charts this week paying an expected profit rate of 1.20% gross on anniversary on the two year version of its Fixed Term Green Saver and 1.10% gross on maturity on the one year version of this account. Both options require a £1,000 minimum deposit to open. These accounts have the incentive of Gatehouse Bank planting a tree in a UK woodland when the account is opened and funded. They must be opened and managed online.

Compare the best fixed rate bonds

The best easy access savings rates

 

Provider

Account

Maximum number of withdrawals allowed

Rate AER

 

Charter Savings Bank

Easy Access - Issue 21

Unlimited

0.50%

Find out more

Charter Savings Bank

Easy Access Postal - Issue 21

Unlimited

0.50%

Find out more

Coventry Building Society

Limited Access Saver (4)

Six penalty-free withdrawals per annum, further withdrawals subject to 50 days’ loss of interest

0.50%

Find out more

Cynergy Bank

Online Easy Access Account (Issue 40)

Unlimited via a nominated account

0.50% (includes a 0.20% bonus for 12 months)

Find out more

ICICI Bank UK

SuperSaver Savings Account

Unlimited but all withdrawals via linked ICICI Bank current account only

0.50%

Find out more

Marcus by Goldman Sachs®

Online Savings Account

Unlimited via a nominated account

0.50% (includes a 0.10% bonus for 12 months)

Find out more

Virgin Money

Club M Saver

Unlimited but all withdrawals via Club M Account or nominated account

0.50%

Find out more

 

Competition at the top of the easy access savings chart has increased this week with seven accounts now paying the top rate of 0.50% AER compared to five accounts last week.

Charter Savings Bank has two accounts paying 0.50% gross on anniversary in the chart this week with both its Easy Access – Issue 21 and its Easy Access Postal – Issue 21 both paying this rate. Both accounts require a £5,000 minimum deposit to open. They both allow further additions made via a nominated account and withdrawals. Easy Access – Issue 21 must be opened and managed online, whereas the postal version can be opened online or by post but must be managed by post. There are versions of both accounts that pay interest monthly at the same gross rate.

Coventry Building Society’s Limited Access Saver (4) pays 0.50% gross on anniversary and requires a £1 minimum deposit to open. Further additions are allowed but withdrawals are restricted to six penalty-free withdrawals per annum and all further withdrawals being subject to 50 days’ loss of interest. This account can be opened and managed online, in branch, by post and by phone. There is also a version of this account that pays interest monthly at the same gross rate.

Online Easy Access Account (Issue 40) from Cynergy Bank pays 0.50% gross on anniversary, which includes a 0.20% bonus for 12 months. To open this account a £1 minimum deposit is needed, as well as a Cynergy Bank Authenticator App or Digipass to open and manage the account. It allows further additions and withdrawals can be made via a nominated account. The account must be opened and managed online.

ICICI Bank UK pays 0.50% gross monthly on its SuperSaver Savings Account. Although this account does not need a deposit to open a HomeVantage Current Account is required. It allows further additions and withdrawals can be made, but all transactions must be made via a linked ICICI Bank current account . The account can be opened online, in branch or by phone and then managed online, in branch, by post and via mobile app.

Marcus by Goldman Sachs® added a bonus to its Online Savings Account this week, resulting in it paying 0.50% gross monthly, including a 0.10% bonus for 12 months. No deposit is needed to open the account, but a UK mobile number is required to apply. The account allows further additions and withdrawals are permitted, but all transactions must be made via a nominated account. It can be opened online or by mobile app and then managed online, by phone or via mobile app.

Virgin Money continued to pay 0.50% gross quarterly on its Club M Saver. This account also does not require a deposit to open but it is only available to those with a Virgin Money Club M Account. Further additions are allowed. Withdrawals are permitted but must be made via a Club M Account or nominated account. It can be opened online or by phone and then managed online, in branch, by phone and via mobile app.

Compare the best easy access savings accounts

The best notice account rates

 

Provider

Account

Notice

Rate AER

 

Secure Trust Bank

120 Day Notice Account

120 days

0.75%

Find out more

Charter Savings Bank
Charter Savings Bank
Shawbrook Bank

120 Day Notice - Issue 22
120 Day Notice Postal - Issue 22
120 Day Notice Personal Account Issue 48

120 days
 
120 days
 
120 days

0.72%
 
0.72%
 
0.72%

Find out more
 
Find out more
 
Find out more

Hampshire Trust Bank

95 Day Notice (Issue 8)

95 days

0.71%

Go to the provider’s site

 

The top rate in the notice account charts this week came from Secure Trust Bank which pays 0.75% gross quarterly on its 120 Day Notice Account. This account requires a £1,000 minimum deposit to open. It allows further additions from a minimum of £1,000 and withdrawals are restricted to four interest withdrawals and three capital withdrawals per annum on 120 days’ notice. This account must be opened online but can then be managed online and by phone.

Charter Savings Bank pays 0.72% gross on anniversary on both its 120 Day Notice – Issue 22 and 120 Day Notice Postal – Issue 22. Both accounts require a £5,000 minimum deposit to open. They allow further additions via a nominated account and withdrawals can be made subject to 120 days’ notice. 120 Day Notice – Issue 22 can only be opened and managed online, whereas the postal version can be opened online or by post but must be managed by post. There are also versions of both accounts that pay interest monthly at the same gross rate. Shawbrook Bank also pays 0.72% gross on anniversary on its 120 Day Notice Personal Account Issue 48. This account requires a £1,000 minimum deposit to open and allows further additions. Withdrawals can be made subject to 120 days’ notice. The account must be opened online but can be managed online or by phone. There is also a version of this account that pays interest monthly at the same gross rate.

The next-best notice account rate this week came from Hampshire Trust Bank, which pays 0.71% gross on anniversary on its 95 Day Notice (Issue 8). To open this account a minimum deposit of £1,000 is needed. It allows further additions and withdrawals are permitted on 95 days’ notice. All transactions must be made via a nominated account. The account must be opened online and can then be managed online, by phone and by post.

Compare the best notice accounts

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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