The best savings rates this week 13.12.19 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 13/12/2019

Consumers looking to open a savings account this week will find competitive rates available across the chart, however it should be noted that a number of chart-topping fixed rates that were available last week are no longer in the charts. However, there was some good news for those looking to deposit money into an easy access account, as Marcus by Goldman Sachs® did not follow Virgin Money in lowering its chart-topping easy access rate this week.

The best fixed rate bond savings rates

Provider Account Term Rate AER
Secure Trust Bank 5 Year Fixed Rate Bond 06.01.25 2.37%
UBL UK 3 Year Fixed Term Deposit Three years 2.20%
UBL UK 2 Year Fixed Term Deposit Two years 2.00%
Bank of London and The Middle East Premier Deposit Account One year 1.80% expected profit rate

There was good news for savers looking to lock their money into a long-term fixed rate account this week, as Secure Trust Bank remained at the top of the chart offering 2.37% gross on its 5 Year Fixed Rate Bond. This account pays interest yearly and requires a minimum opening deposit of £1,000. It must be opened online but can then managed online and by phone.

Back to the top of the three year and two year fixed charts this week was UBL UK. Its 3 Year Fixed Term Deposit pays 2.25% gross on maturity, while its 2 Year Fixed Term Deposit pays 2.02% gross on maturity. Both accounts require an opening minimum deposit of £2,000. They can be opened in branch and by post. As well as this, there are versions of both these accounts that pay interest on anniversary and monthly at lower gross rates.

Remaining at the top of the one year fixed chart this week was Bank of London and The Middle East offering an expected profit rate of 1.80% gross on maturity on its Premier Deposit Account. This account requires an opening minimum deposit of £1,000 and can only be opened online, then managed by post.

The best easy access savings rates

Provider Account Notice Rate AER
Marcus by Goldman Sachs® Online Savings Account None 1.45% (including a 0.10% bonus for 12 months)
Post Office Money® Online Loyalty Saver Issue 8 None 1.44%
Shawbrook bank Easy Access – Issue 17 None 1.41%

Savers looking for easy access to their money will find that last week’s top rates remained available in the chart this week. Marcus by Goldman Sachs® continued to dominate the chart with its Online Savings Account paying 1.44% gross, including a 0.10% bonus for 12 months. This account pays interest monthly and, while a deposit is not required to open it, a UK mobile number is needed. It allows unlimited further additions and withdrawals. This account can only be opened online, but can then be managed by phone as well.

Post Office Money® was still offering its highly competitive rate of 1.44% gross on its Online Loyalty Saver Issue 8 this week. This account pays interest yearly but is only available to existing Post Office Money® customers. It requires an opening minimum deposit of £50 and allows unlimited further additions and withdrawals. The account can be opened online or by phone, but can only be managed online. There is also a version of this account that pays interest monthly at a slightly lower gross rate.

Shawbrook Bank was once again third in the chart this week with its Easy Access – Issue 17 paying 1.41% gross on anniversary. This account requires an opening minimum deposit of £1,000. Once opened, further additions and withdrawals are allowed. The account can be opened online and then managed online and by phone. As well as this, there is a version of this account that pays interest monthly at a slightly lower gross rate.

The best notice account rates

Provider Account Notice Rate AER
Investec Bank plc Notice Plus (0% immediate access) 95 days 1.80%
Bank of London and The Middle East 90 Day Notice Account (Issue 1) 90 days 1.71% expected profit rate
Charter Savings Bank 60 Day Notice – Issue 13 60 days 1.50%
Aldermore 30 Day Notice Issue 7 30 days 1.30%

Investec Bank plc once again topped the notice chart this week with its Notice Plus (0% immediate access) paying 1.79% gross monthly. This account is only available to existing Investec clients via Investec Online. It requires a substantial minimum opening deposit of £10,000 and allows unlimited further additions, while withdrawals are permitted but subject to 95 days’ notice. In addition to this, a loyalty rate of 0.05% is added to the account if notice is not placed for 90 days. This account can be opened online and then managed online, by phone and mobile app. There are also other versions of this account available that have a shorter notice period, but offer a lower rate.

The 90 days' notice chart was once again topped by Bank of London and The Middle East (BLME). Its 90 Day Notice Account (Issue 1) offers an expected profit rate of 1.70% gross paid quarterly. It requires an opening minimum deposit of £10,000 and allows unlimited further additions. Withdrawals are permitted subject to 90 days’ notice. This account can only be opened and managed online.

Charter Savings Bank continued to top the 60 day notice chart this week with its 60 Day Notice – Issue 13 paying 1.50% gross on anniversary. A minimum deposit of £5,000 is needed to open this account, which allows unlimited further additions. Withdrawals are permitted subject to 60 days’ notice. The account can be opened and managed online. There is also a version of this account that pays interest monthly at a slightly lower gross rate.

Savers looking for an account with a shorter notice period will find the top rate once again came from Aldermore this week. The bank’s 30 Day Notice Issue 7 pays 1.30% gross on anniversary on a £1,000 opening minimum deposit. The account allows unlimited further additions with withdrawals permitted subject to 30 days’ notice. It can only be opened and managed online and there is also a version of this account that pays interest monthly at a slightly lower gross rate.

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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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