Derin Clark

Derin Clark

Online Reporter
Published: 09/08/2019

Fixed rate bonds continue to offer the best saving rates overall this week and savers wanting to get the highest rates should look towards this chart. While fixed rate bonds offer the best rates, the downside is that these accounts normally don’t allow access to funds before the term has ended, so if access to savings is needed, savers would be better off looking at the easy access savings chart, which continues to offer some competitive rates this week. Savers looking for a notice account will be pleased to know that a new top rate has entered the chart this week, increasing competition within this sector.

The best fixed rate bonds savings rates

 

Provider

Account

Term

Rate AER

Bank of London and The Middle East

Premier Deposit Account

Seven-year bond

2.80% expected profit rate

Bank of London and The Middle East

Premier Deposit Account

Five-year bond

2.75% expected profit rate

Bank of London and The Middle East

Premier Deposit Account

Three-year bond

2.55% expected profit rate

Bank of London and The Middle East

Premier Deposit Account

Two-year bond

2.35% expected profit rate

Bank of London and The Middle East

Premier Deposit Account

One-year bond

2.10% expected profit rate

 

Savers looking to get the best savings rates should once again look to the fixed rate bonds chart, with long-term fixed rate bonds offering the best rates overall. Bank of London and The Middle East (BLME) continued to dominate the fixed rate bond savings chart, offering the top rate for all terms. The best rate available this week is an expected profit rate of 2.80% from BLME’s Premier Deposit Account seven-year bond, while the five-year version offers an expected profit rate of 2.75% and the three-year version offers an expected profit rate of 2.55%. For those looking for a short-term bond, the two-year version of this account offers an expected profit rate of 2.35% and the one-year version offers an expected profit rate of 2.10%. All versions of this account require a £1,000 minimum deposit and pay profit on the account’s anniversary. They do not allow further additions or withdrawals and can only be opened online and then managed by post. To open any version of this account, a BLME transfer account to hold funds pending investment is required.

The best easy access savings rates

 

Provider

Account

Term

Rate AER

Marcus by Goldman Sachs®

Online Savings Account

None

1.50% (including a 0.15% bonus for 12 months)

Virgin Money

Double Take E-Saver Issue 10

None

1.50%

Virgin Money

Man Utd Double Take E-Saver Issue 5

None

1.50%

Shawbrook Bank

Easy Access – Issue 15

None

1.48%

 

While easy access savings rates are currently some of the lowest rates on offer in the savings charts, they are a great option for savers wanting to be able to access their funds quickly. It should be noted that one of last week’s top rates offered by Cynergy Bank is now restricted to existing customers only, which means that there are two providers offering the top rate of 1.50%.

Marcus by Goldman Sachs® offers 1.50%, including a 0.15% bonus for 12 months on its Online Savings Account, which pays interest monthly. This account does not require an opening deposit but a UK mobile phone number is needed to open this account. It allows unlimited further additions via a nominated account and withdrawals and can be opened online then managed by phone as well.

Virgin Money offers 1.50% on both its Double Take E-Saver Issue 10 and its Man Utd Double Take E-Saver Issue 5, both of which pay interest yearly. These accounts require an opening minimum deposit of £1 and allow unlimited further additions. On both accounts, withdrawals are restricted to two per calendar year including closure and can only be opened and managed online. As well as this, there are versions of both that pay interest on a monthly basis.

The next best rate in this chart came from Shawbrook Bank offering 1.48% on its Easy Access – Issue 15, which pays interest on its anniversary. This account requires an opening minimum deposit of £1,000 and allows unlimited further additions, while withdrawals are permitted but must be made via a nominated account. This account can only be opened online and then managed by phone as well. There is also a version of this account that pays interest on a monthly basis.  

The best notice account rates

 

Provider

Account

Notice

Rate AER

PCF Bank

180 Day Notice Deposit Issue 1

180 days

1.85%

OakNorth

90 Day Notice Deposit

90 days

1.77%

Secure Trust Bank

45 Day Notice Account

45 days

1.65%

Secure Trust Bank

30 Day Notice Account

30 days

1.55%

 

PCF Bank is new to the top of the notice account chart this week, offering a rate of 1.85% on its 180 Day Notice Deposit Issue 1. This account requires an opening minimum deposit of £1,000 and pays interest on its anniversary. It allows further additions and withdrawals are permitted but subject to 180 days’ notice. It can be opened online and by post then managed both these ways as well as by phone.

Topping the 90-day notice account chart this week was OakNorth, which offers 1.77% on its 90 Day Notice Deposit. This account pays interest monthly and requires an opening minimum deposit of £1. Further additions are allowed with this account, while withdrawals are subject to 90 days’ notice. It can only be opened and managed online.

The up to 60-day notice chart was led by Secure Trust Bank, while this bank also topped the 30-day chart. Its 60-day chart-topping rate is 1.65% on its 45 Day Notice Account, while in the 30-day chart it offers 1.55% on its 30 Day Notice Account. Both accounts pay interest quarterly and require an opening minimum deposit of £1,000. Further additions are allowed, however withdrawals are restricted to four interest withdrawals per annum without penalty and three capital withdrawals per annum on 45 days’ notice on the 45 Day Notice Account. For the 30-day version, withdrawals are restricted to four interest withdrawals per annum without penalty and three capital withdrawals per annum on 30 days’ notice. These accounts can only be opened online and then managed by phone as well.

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.

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