The Best Savings Rates This Week 05.11.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 05/11/2021

Despite the Bank of England base rate remaining unmoved yesterday, rates on savings accounts continue to rise slowly. For example, Shawbrook Bank increased the rate on its notice and easy access accounts today, resulting in these accounts now topping their relative charts. Meanwhile, the fixed rate bond chart has remained competitive this week with the top rate of 2.05% still available on a five year fixed term.

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 Friday 5 November 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  
Gatehouse Bank 5 Year Fixed Term Woodland Saver Five years 2.05% (expected profit rate) Go to provider’s site

JN Bank

Al Rayan Bank

Fixed Term Savings Account
Fixed Term Deposit

Three years

36 months

1.81%

1.81% (expected profit rate)

Go to provider’s site
Find out more
Al Rayan Bank Fixed Term Deposit 24 months 1.76% (expected profit rate) Find out more
Al Rayan Bank Fixed Term Deposit 12 months 1.45% (expected profit rate) Find out more

 

Topping the fixed rate bond chart this week is Gatehouse Bank with its 5 Year Fixed Term Woodland Saver paying an expected profit rate of 2.05% gross on anniversary. This account requires a £1,000 minimum deposit to open and benefits from the incentive of Gatehouse Bank planting a tree in a UK woodland when an account is opened and funded. The account must be opened and managed online.

Both JN Bank and Al Rayan Bank top the three year fixed rate bond chart this week. JN Bank pays 1.81% gross on anniversary on its Fixed Term Savings Account, which requires a £1,000 minimum deposit to open. This account can only be opened and managed online. Al Rayan Bank pays an expected profit rate of 1.81% gross quarterly on Fixed Term Deposit. This account requires a £5,000 minimum deposit to open. It can be opened and managed online, in branch, by phone and via mobile app.

Al Rayan Bank also tops the two and one year fixed rate bond charts this week, with the 24 month version of its Fixed Term Deposit paying an expected profit rate of 1.76% gross quarterly and the 12 month version paying an expected profit rate of 1.45% gross quarterly. A £5,000 minimum deposit is needed to open these accounts, which can be opened and managed online, in branch, by phone and via mobile app.

Compare the best fixed rate bonds

The best easy access savings rates

Provider Account Maximum number of withdrawals allowed Rate AER  
Shawbrook Bank Easy Access - Issue 28 Unlimited via a nominated account 0.67% Find out more
Cynergy Bank Online Easy Access Account (Issue 42) Unlimited via a nominated account 0.66% (includes 0.36% bonus for 12 months) Find out more

 

Topping the easy access savings account chart this week is Shawbrook Bank paying 0.67% gross on anniversary or monthly on its Easy Access – Issue 28 account. To open this account a £1,000 minimum deposit is needed. It allows further additions and withdrawals which must be for a minimum of £500, and are permitted via a nominated account. The account must be opened online but can be managed online and by phone.

The next-best rate comes from Cynergy Bank, which pays 0.66% gross on anniversary, including a 0.36% bonus for 12 months, on its Online Easy Access Account (Issue 42). A £1 minimum deposit is needed to open this account, along with a Cynergy Bank Authenticator App or Digipass which is required to use online banking. This account allows further additions and withdrawals can be made via a nominated account. It must be opened and managed online.

Compare the best easy access accounts

The best notice account rates

Provider Account Notice Rate AER  
Shawbrook Bank 120 Day Notice Personal Account Issue 50 120 days 1.08% Find out more
Secure Trust Bank 90 Day Notice Account 90 days 1.02% Find out more
Secure Trust Bank 60 Day Notice Account 60 days 0.85% Find out more

 

The top rate in the notice account chart this week is Shawbrook Bank’s 120 Day Notice Personal Account Issue 50 which pays 1.08% gross on anniversary. 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 and by phone. There is also a version of this account that pays interest monthly at a slightly lower gross rate of 1.07% monthly.

For savers looking for an account with a notice period of 90 days the top rate comes from Secure Trust Bank, which pays 1.02% gross quarterly on its 90 Day Notice Account. This account requires a £1,000 minimum deposit to open and allows further additions which must be for a minimum of £1,000. Withdrawals are restricted to four interest withdrawals per annum and three capital withdrawals per annum subject to 90 days’ notice. The account can only be opened online but can then be managed online and by phone.

Secure Trust also has the top rate on a notice account with 60 days’ notice. Its 60 Day Notice Account pays 0.85% gross quarterly and requires a £1,000 minimum deposit to open. Further additions are allowed but they must be for a minimum of £1,000. Up to four interest withdrawals and three capital withdrawals can be made per annum on 60 days’ notice. This account must be opened online but can then 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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