The Best Savings Rates This Week 09 12 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 09/12/2021

This week saw a number of savings providers increase the rate on their one year fixed bonds, resulting in Masthaven Bank now topping this chart paying 1.39% AER. United Trust Bank also increased its one year bond rate which also pays a highly competitive rate of 1.37% AER in this chart.

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 Thursday 9 December 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Notice Rate AER  
United Trust Bank
QIB (UK)

UTB 5 Year Bond

Raisin UK – 5 Year Fixed Term Deposit

Five years

Five years

2.10%

2.10% (expected profit rate)

Find out more
Find out more
United Trust Bank UTB 3 Year Bond Three years 1.87% Find out more
SmartSave 2 Year Fixed Rate Saver Two years 1.64% Find out more
Masthaven Bank 1 Year Fixed Term Account One year 1.39% Find out more

 

Both United Trust Bank and QIB (UK) topped the fixed rate bond chart this week with their five year fixed rate bonds. United Trust Bank pays the joint top rate of 2.10% gross on anniversary on its UTB 5 Year Bond, which requires a £5,000 minimum deposit to open. This account must be opened online but can then be managed online, by post and by phone. QIB (UK) pays an expected profit rate of 2.10% gross on maturity on its Raisin UK – 5 Year Fixed Term Deposit. This account requires a £1,000 minimum deposit to open, and benefits from Raisin UK offering a welcome bonus of £50 that can be claimed when a first savings account is opened via its website (terms and conditions apply). It must be opened online but can be managed online, by post and by phone.

United Trust Bank has the best paying three year fixed rate bond this week paying 1.87% gross on anniversary on its UTB 3 Year Bond. A £5,000 minimum deposit is needed to open this account, which must be opened online but can then be managed online, by post and by phone.

SmartSave tops the two year fixed rate bond chart this week with its 2 Year Fixed Rate Saver paying 1.64% gross on anniversary and requiring a £10,000 minimum deposit to open. It must be opened and managed online.

Topping the one year fixed bond chart this week is Masthaven Bank, which pays 1.39% gross on anniversary on its 1 Year Fixed Term Account. A £500 minimum deposit is needed to open this account, which must be opened and managed online. There is also a version of this account that pays interest monthly at a slightly lower gross rate of 1.38%.

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% Find out more
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% (includes 0.40% bonus for 12 months) Find out more

 

Remaining at the top of the easy access savings chart this week is Aldermore 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. Withdrawals are restricted to two per annum, if more withdrawals are made a lower rate of interest is paid. This account must be opened and managed online.

Investec Bank plc has the next-best easy access savings rate of 0.71% gross monthly on its Online Flexi Saver, which requires a £5,000 minimum deposit to open. This account allows further additions and withdrawals. It can only be opened and managed online.

This week, the third-best easy access savings rate comes from Cynergy Bank, which pays 0.70% gross on anniversary, including a 0.40% bonus for 12 months, on its Online Easy Access Account (Issue 43). This account requires a £1 minimum deposit to open and a Cynergy Bank Authenticator App or Digipass is needed 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.

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

 

The best notice account rate this week once again comes from Secure Trust Bank, which pays 1.10% gross quarterly on its 120 Day Notice Account. This account requires a £1,000 minimum deposit to open. It allows further additions which must be for a minimum of £1,000. Withdrawals are restricted to four interest and three capital withdrawals per annum subject to 120 days’ notice. The account must be opened online but can be managed online and by phone.

The next-best notice account rate comes from Shawbrook Bank, which pays 1.08% gross on anniversary on its 120 Day Notice Personal Account Issue 50. A £1,000 minimum deposit is needed to open this account and it allows further additions. Withdrawals can be made subject to 120 days’ notice. The account must be opened online and then 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%.

Savers looking for a notice account with a maximum notice period of 60 days will find that Secure Trust Bank has the best rate. Its 60 Day Notice Account pays 0.85% gross quarterly and needs a £1,000 minimum deposit to open. This account allows further additions which must be for a minimum of £1,000. Up to four interest and three capital withdrawals can be made per annum on 60 days’ notice. The account can only be opened online but it can be managed online and by phone.

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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