The Best Savings Rates This Week 08 10 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 08/10/2021

Competition within the easy access savings chart remains strong this week, with Leeds Building Society increasing the rate on one of its easy access accounts so that it now pays the joint second-best rate in the chart. This means eight accounts now pay the second-best easy access rate of 0.60% AER, while two accounts pay the top rate of 0.65% 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.

Information about accounts and rates are correct at 1pm on Friday 8 October 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  
Recognise Bank 5 Year Fixed Rate Account Five years 2.00% Find out more
Al Rayan Bank Fixed Term Deposit 36 months 1.81% (expected profit rate) Find out more
Al Rayan Bank Fixed Term Deposit 24 months 1.76% (expected profit rate) Find out more
Gatehouse Bank 1 Year Fixed Term Green Saver One year 1.51% (expected profit rate) Find out more

 

Topping the five year fixed rate bond chart this week is Recognise Bank, which pays 2.00% gross on anniversary on its 5 Year Fixed Rate Account. This account requires a £1,000 minimum deposit to open. It can only be opened and managed online. There is also a version of this account that pays interest monthly at a slightly lower gross rate of 1.98%.

Al Rayan Bank tops both the three and two year fixed bond chart this week, with the 36-month version of its Fixed Term Deposit paying an expected profit rate of 1.81% gross quarterly and the 24-month version paying an expected profit rate of 1.76% gross quarterly. Both accounts require a £5,000 minimum deposit to open. They can be opened and managed online, in branch, by phone and via mobile app.

The best one year fixed bond rate this week comes from Gatehouse Bank, which pays an expected profit rate of 1.51% gross on maturity on its 1 Year Fixed Term Green Saver. This account requires a £1,000 minimum deposit to open and must be opened and managed online. This account comes with the incentive that Gatehouse Bank will plant a tree in a UK woodland when an account is opened and funded.

Compare the best fixed rate bonds

The best easy access savings rates

Provider Account Maximum number of withdrawals allowed Rate AER  
Family Building Society
Coventry Building Society
Premium Saver (4)
Four Access Saver

Unlimited

4 penalty free withdrawals per annum, further withdrawals subject to 50 day loss of interest.

0.65%

0.65%

Go to provider’s site
Find out more
Aldermore Double Access Account Issue 1 Lower rate paid if more than 2 withdrawals pa 0.60% Go to provider’s site
Leeds Building Society Limited Issue Online Access Account (Issue 24) Unlimited withdrawals via a nominated account 0.60% Go to provider’s site
Marcus by Goldman Sachs® Online Savings Account Unlimited withdrawals via a nominated account 0.60% (including a 0.10% bonus for 12 months) Go to provider’s site
SAGA Saga Easy Access Savings Account Unlimited 0.60% (including a 0.10% bonus for 12 months) Go to provider’s site
Buckinghamshire Building Society Single Access Saver 1 penalty free withdrawal permitted per annum. Account closed upon 2nd withdrawal 0.60% Find out more
Charter Savings Bank Easy Access - Issue 23 Unlimited 0.60% Find out more
Charter Savings Bank Easy Access Postal - Issue 23 Unlimited 0.60% Find out more
Cynergy Bank Online Easy Access Account (Issue 41) Unlimited withdrawals via a nominated account 0.60% (including a 0.30% bonus for 12 months) Find out more

 

Two accounts pay the top easy access savings account rate this week. Family Building Society pays 0.65% gross yearly on its Premier Saver (4) account, which needs a £10,000 minimum deposit to open. This account allows further additions until 5 November 2021 and withdrawals from a minimum of £100. It must be opened online, but can then be managed online, in branch, by post and by phone. Coventry Building Society’s Four Access Saver pays 0.65% gross on anniversary or monthly. It requires a £1 minimum deposit to open and allows further additions. Withdrawals are restricted to four penalty-free withdrawals per annum, all further withdrawals are subject to 50 days’ loss of interest. This account can be opened and managed in online, in branch, by post and by phone.

Savers will find that eight accounts pay the second-best easy access savings rate this week. Aldermore pays 0.60% gross on anniversary or monthly on its Double Access Account Issue 1. This account requires a £1,000 minimum deposit to open. It allows further additions. Up to two withdrawals are permitted per annum, if more withdrawals are made a lower rate of 0.10% interest is paid. This account can only be opened and managed online.

Leeds Building Society’s Limited Issue Online Access Account (Issue 24) pays 0.60% gross on maturity and requires a £1,000 minimum deposit to open. It allows further additions while the issue remains open and withdrawals can be made via a nominated account. Savers should note that this account matures on 30 November 2022, when it reverts to an instant access maturity account. It can only be opened and managed online.

Online Savings Account from Marcus by Goldman Sachs® pays 0.60% gross monthly, which includes a 0.10% bonus for 12 months. No deposit is needed to open this account, but a UK mobile number is required. Further additions and withdrawals can be made via a nominated account. It can be opened online or via mobile app and then managed online, by phone or via mobile app.

Similarly, Saga’s Saga Easy Access Savings Account pays 0.60% gross monthly, including a 0.10% bonus for 12 months, and does not need a deposit to open. Savers wanting to ensure their money is protected under the Financial Services Compensation Scheme (FSCS) should note that this account is operated by Goldman Sachs International Bank. Further additions and withdrawals are allowed via a nominated account. This account must be opened online but can then be managed online and by phone.

Buckinghamshire Building Society pays 0.60% gross yearly on its Single Access Saver, which requires a £100 minimum deposit to open. This account allows further additions. Withdrawals are restricted to one penalty-free withdrawal per annum, the account will be closed on the second withdrawal. It can be opened and managed in branch and by post.

Both Easy Access – Issue 23 and Easy Access Postal – Issue 23 from Charter Savings Bank pay 0.60% gross on anniversary or monthly. To open these accounts a £5,000 minimum deposit is needed. They allow further additions via a nominated account and unlimited withdrawals. Easy Access – Issue 23 can only be opened and managed online, meanwhile Easy Access Postal – Issue 23 can be opened online or by post but must be managed by post.

Cynergy Bank’s Online Easy Access Account (Issue 41) pays 0.60% gross on anniversary, which includes a 0.30% bonus for 12 months. This account requires a £1 minimum deposit to open, as well as a Cynergy Bank Authenticator App or Digipass, which is also needed to manage the account. It allows further additions and withdrawals can be made via a nominated account. The account must be opened and managed online.

Compare the best easy access accounts

The best notice account rates

Provider Account Notice Rate AER  

OakNorth Bank

Oxbury Bank

120 Days Notice Deposit Account Personal 120 Day Notice Account - Issue 1 it Account

120 days

120 days

1.06%

1.06%

Find out more

Find out more

Charter Savings Bank 60 Day Notice – Issue 21
60 Day Notice Postal – Issue 21

60 days

60 days

0.83%

0.83%

Find out more

Find out more

 

This week, OakNorth Bank and Oxbury Bank continue to pay the top notice account rate. OakNorth Bank’s 120 Days Notice Deposit Account pays 1.06% gross monthly and requires a minimum deposit of just £1 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. Oxbury Bank pays 1.06% gross monthly on its Personal 120 Day Notice Account – Issue 1. To open this account a £1,000 minimum deposit is needed. It allows further additions via a nominated account. Withdrawals are permitted subject to 120 days’ notice and via a nominated account. It must be opened online but can be managed online and via mobile app, although savers should be aware that an Oxbury App is needed to use online banking.

Savers looking for a lower notice term of 60 days will find that Charter Savings Bank has the top rate in this chart. Both its 60 Day Notice – Issue 21 and 60 Day Notice Postal – Issue 21 pay 0.83% gross on anniversary or monthly. The accounts require a £5,000 minimum deposit to open. They allow further additions via a nominated account and withdrawals can be made subject to 60 days’ notice. 60 Day Notice – Issue 21 can only be opened and managed online, whereas the postal version can be opened online or by post but must be managed 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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