The Best Savings Rates This Week 06 08 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 06/08/2021

During the week a number of banks and building societies increased rates on their savings accounts. For example, challenger bank Zopa increased its one and two year fixed bond rates, resulting in it topping the one year fixed bond chart and paying the joint-top two year fixed bond rate. Despite rates rises, JN Bank continues to have the best paying savings account overall this week with its five year fixed rate bond paying 1.70% AER.

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

 

JN Bank

Fixed Term Savings Account

Five years

1.70%

Go to provider’s site

Tandem Bank

Tandem 3 Year Fixed Saver

Three years

1.44%

Find out more

Tandem Bank
 
Zopa

Tandem 2 Year Fixed Saver
2 Year Fixed Term Savings

Two years
 
Two years

1.36%
 
1.36%

Find out more
 
Find out more

Zopa

1 Year Fixed Term Savings

One year

1.12%

Find out more

 

Topping the fixed rate bond chart this week was JN Bank, which pays 1.70% gross on anniversary on its Fixed Term Savings Account. This five year term account requires a £1,000 minimum deposit to open. It must be opened and managed online.

Tandem Bank topped the three year fixed chart this week paying 1.44% gross on anniversary on its Tandem 3 Year Fixed Saver. To open this account a £1 minimum deposit is needed. It can only be opened and managed via mobile app.

Both Tandem Bank and Zopa had the top paying two year fixed bond rate this week. Tandem Bank pays 1.36% gross on anniversary on its Tandem 2 Year Fixed Saver. To open this account a £1 minimum deposit is needed and it must be opened and managed via mobile app. Zopa pays 1.35% gross monthly on its 2 Year Fixed Term Savings. The account requires a £1,000 minimum deposit to open. It can only be opened online and then managed online or via mobile app.

This week, Zopa topped the one year fixed bond chart with its 1 Year Fixed Term Savings paying 1.11% gross monthly. This account requires a £1,000 minimum deposit to open. It must be opened online but can then be managed online or via mobile app.

Compare the best fixed rate bonds

The best easy access savings rates

 

Provider

Account

Maximum number of withdrawals allowed

Rate AER

 

Skipton Building Society

Online Triple Access Saver Issue 1

Up to three withdrawals per calendar year.

0.60%

Find out more

Skipton Building Society

Triple Access Saver Issue 1

Up to three withdrawals per calendar year.

0.60%

Find out more

Investec Bank plc

Online Flexi Saver

Unlimited

0.58%

Go to provider’s site

Coventry Building Society

Limited Access Saver (Online) (5)

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

0.55%

Find out more

 

Skipton Building Society had the top paying easy access savings account this week paying 0.60% gross on anniversary on both its Online Triple Access Saver Issue 1 and its Triple Access Saver Issue 1. Both accounts require a £5,000 minimum deposit to open and allow further additions. Both accounts restrict withdrawals to a maximum of three per calendar year. Online Triple Access Saver Issue 1 can only be opened and managed online, whereas Triple Access Saver Issue 1 can be opened and managed in branch, by post and by phone.

The next-best rate in the easy access savings account chart this week came from Investec Bank, which pays 0.58% gross monthly on its Online Flexi Saver. This account requires a £5,000 minimum deposit to open. It allows further additions and unrestricted withdrawals. The account can only be opened and managed online.

Coventry Building Society had the third best easy access account rate this week paying 0.55% gross on anniversary on its Limited Access Saver (Online) (5). This account requires a £1 minimum deposit to open and allows further additions. Withdrawals are restricted to six penalty-free withdrawals each year, there is then a 50 days’ loss of interest on all further withdrawals. The account must be opened and managed online. There is a version of this account that pays interest monthly at the same gross rate.

Compare the best easy access savings accounts

The best notice account rates

 

Provider

Account

Notice

Rate AER

 

Allica Bank

95-Day Notice Personal Savings Account (Issue 1)

95 days

0.86%

Find out more

Hampshire Trust Bank

95 Day Notice (Issue 11)

95 days

0.85%

Go to provider’s site

OakNorth Bank

120 Days Notice Deposit Account

120 days

0.81%

Find out more

 

Allica Bank continued to pay the top notice account rate this week with its 95-Day Notice Personal Savings Account (Issue 1) paying 0.86% gross on anniversary. This account requires a £10,000 minimum deposit to open. It allows further additions. Withdrawals can be made subject to 95 days’ notice. It can be opened online or via mobile app and then managed by phone and mobile app.

The next-best notice account rate this week came from Hampshire Trust Bank, which pays 0.85% gross on anniversary on its 95 Day Notice (Issue 11). To open this account a £1 minimum deposit is needed. It allows further additions via a nominated bank account and withdrawals must also be via a nominated bank account and are subject to 95 days’ notice. The account must be opened online but can then be managed online, by post and by phone.

OakNorth Bank had the third best notice account rate this week with its 120 Days Notice Deposit Account paying 0.81% gross monthly. This account requires a £1 minimum deposit to open. It allows further additions and withdrawals can be made subject to 120 days’ notice. The account can be opened and managed online and via mobile app.

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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