The Best Savings Rates This Week 02.12.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 02/12/2021

This week saw a number of banks increase their savings rates, notably Investec Bank plc raising the rate on its easy access savings account, which now pays the second-best rate in this chart. Meanwhile, in the fixed bond chart, Hodge Bank has increased the rate on its five-year bond, which now pays the top bond rate of 2.08% AER, and earlier in the week United Trust Bank increased the rates on a range of bonds with its three and two year accounts now topping these charts.

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.

Information about accounts and rates are correct at 12pm on Thursday 2 December 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  
Hodge Bank 5 Year Fixed Rate Bond Five years 2.08% Find out more
United Trust Bank UTB 3 Year Bond Three years 1.87% Go to provider’s site
United Trust Bank UTB 2 Year Bond Two years 1.63% Find out more
Zopa 1 Year Fixed Term Savings One year 1.37% Find out more

 

New to the top of the fixed rate bond chart today is Hodge Bank, which pays 2.08% gross on anniversary on its 5 Year Fixed Rate Bond. This account requires a £1,000 minimum deposit to open. It must be opened online but can be managed online and by phone.

This week, United Trust Bank tops both the three- and two-year fixed rate bond charts with its UTB 3 Year Bond paying 1.87% gross on anniversary and its UTB 2 Year Bond paying 1.63% gross on anniversary. Both bonds require a £5,000 minimum deposit to open. They must be opened online but can then be managed online, by post and by phone.

Topping the one-year fixed bond chart this week is Zopa which, although it pays 1.36% gross monthly on its 1 Year Fixed Term Savings account, savers should note interest can be accessed only on maturity. To open this account a £1,000 minimum deposit is needed. It must be opened online but can be managed online and via mobile app. Although Investec Bank plc’s Fixed Rate Saver pays a lower AER than the account from Zopa, it pays the same gross rate of 1.36% on maturity. This account requires a £5,000 minimum deposit to open and can only 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  
Aldermore Double Access Account Issue 1 (0-2 withdrawals pa) Lower rate paid if more than 2 withdrawals pa. 0.75% Go to provider’s site
Investec Bank plc Online Flexi Saver Unlimited 0.71% Go to provider’s site
Cynergy Bank Online Easy Access Account (Issue 43) Unlimited via a nominated account 0.70%, including a 0.40% bonus for 12 months Find out more

 

Aldermore tops the easy access savings chart this week with its Double Access Account Issue 1 (0-2 withdrawals pa) paying 0.75% gross on anniversary or monthly. This account requires a £1,000 minimum deposit to open and allows further additions. Up to two withdrawals are permitted per annum; if more withdrawals are made a lower rate is paid. It must be opened and managed online.

The next best rate this week comes from Investec Bank plc, which pays 0.71% gross monthly on its Online Flexi Saver. A minimum deposit of £5,000 is needed to open this account, which allows further additions and withdrawals. Again, it can only be opened and managed online.

The third-best easy access savings rate this week comes from Cynergy Bank with its Online Easy Access Account (Issue 43) paying 0.70% gross on anniversary, which includes a 0.40% bonus for 12 months. The account can be opened with a minimum deposit of just £1, but a Cynergy Bank Authenticator App or Digipass is needed to open and manage it. Further additions can be made and withdrawals are allowed via a nominated account. This account can also only be opened and managed online.

Compare the best easy access accounts

The best notice account rates

Provider Account Notice Rate AER  
Secure Trust Bank 120 Day Notice Account 120 days 1.10% Find out more
Shawbrook Bank 120 Day Notice Personal Account Issue 50 120 days 1.08% Find out more
Secure Trust Bank 60 Day Notice Account 60 days 0.85% Find out more

 

There was no change at the top of the notice account chart this week, with Secure Trust Bank continuing to pay the top rate of 1.10% gross quarterly on its 120 Day Notice Account. This account requires a £1,000 minimum deposit to open. Further additions are allowed and must be for a minimum of £1,000. Up to four interest withdrawals and three capital withdrawals are permitted per annum subject to 120 days’ notice. This account must be opened online but can be managed online and by phone.

Shawbrook Bank continues to have the second-best notice account rate this week with its 120 Day Notice Personal Account Issue 50 paying 1.08% gross on anniversary. A £1,000 minimum deposit is needed to open this account, which allows further additions. Withdrawals are permitted on 120 days’ notice. Again, this account must be opened online, but it can be managed online and by phone. There is also a version of this notice account that pays interest monthly at a slightly lower gross rate of 1.07%.

For savers looking for a notice account with a shorter notice period, Secure Trust Bank remains at the top of the up to 60 day notice chart paying 0.85% gross quarterly on its 60 Day Notice Account. A £1,000 minimum deposit is needed to open this account. It allows further additions which must be for a minimum of £1,000 and withdrawals are restricted to four interest withdrawals and three capital withdrawals per annum on 60 days’ notice. It can only be opened online but can be managed online and by phone.

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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